Using a comprehensive micro dataset spanning the period 1998-2005, this paper provides a systematic investigation of the relationship between financial structure and firm growth in China, controlling for the endogeneity of the former. It finds that financial structure does matter for firm growth in China, although this does not tell the whole story. The relative importance of the different financing sources depends on firm ownership and growth channel.
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Paper provided by University of Nottingham, GEP in its series Discussion Papers with number
07/39.