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Chinese economic policy uncertainty and U.S. corporate investment

Author

Listed:
  • Kiryoung Lee
  • Yoontae Jeon
  • Laleh Samarbakhsh
  • Insik Kim

Abstract

Prior findings suggest that firms reduce investment when they face a higher degree of domestic economic policy uncertainty. In this paper, we provide a new finding that corporate investment of U.S. firms also declines when Chinese economic policy uncertainty rises, after controlling for U.S. economic policy uncertainty. Additional analysis suggests that the result is stronger for firms located in states with larger exports to China, implying the importance of global supply chain link in understanding firms' investment decisions.

Suggested Citation

  • Kiryoung Lee & Yoontae Jeon & Laleh Samarbakhsh & Insik Kim, 2021. "Chinese economic policy uncertainty and U.S. corporate investment," International Review of Finance, International Review of Finance Ltd., vol. 21(4), pages 1519-1528, December.
    • Handle: RePEc:bla:irvfin:v:21:y:2021:i:4:p:1519-1528
    DOI: 10.1111/irfi.12335
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    Cited by:

    1. Xuan Yang & Yue Wang & Di Chen & Xue Tan & Xue Tian & Lei Shi, 2021. "Does the “Blue Sky Defense War Policy” Paint the Sky Blue?—A Case Study of Beijing–Tianjin–Hebei Region, China," IJERPH, MDPI, vol. 18(23), pages 1-25, November.

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