ORCID Profile
0000-0002-8465-3871
Current Organisation
UNSW Sydney
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Publisher: Elsevier BV
Date: 2022
DOI: 10.2139/SSRN.3520994
Publisher: Springer Science and Business Media LLC
Date: 11-2019
DOI: 10.1007/S11123-019-00559-4
Abstract: Industrial policy, particularly through the provision of large-scale assistance to industry in the form of ‘tax holidays’ and subsidies to firms, is very important in China. A major contribution of this paper is to introduce firm-level measures of assistance directly into industry-level production functions determining firm output using Chinese firm-level panel data for 1998–2007 and analysing the impact of government assistance on TFP at the firm-level. Our results indicate inverted U-shaped gains from assistance: across the 26 industries considered, firms receiving assistance rates of 1–10, 10–19, 20–49 and 50+% experienced on average 4.5, 9.4, 9.2 and −3% gains in TFP level, respectively. We then decompose the growth of TFP and relate it to assistance and formal political connections between firms and the government. We find in general firms receiving assistance contributed relatively more to TFP growth than non-assisted firms. However, this was largely through new firms being ‘encouraged’ to start-up rather than through firms open throughout 1998 to 2007 improving. There is also evidence that closure rates were truncated as a result of assistance. Moreover, the better results for assisted firms was very much ‘driven’ by a sub-group that received assistance but had no formal political connections and were not State-owned.
Publisher: Wiley
Date: 28-04-2016
DOI: 10.1111/IERE.12172
Publisher: Wiley
Date: 24-07-2022
Abstract: We develop a dynamic model to analyze the impact of input tariff liberalization on input prices, trading decisions, and productivity. Although input tariffs directly affect input price benefits of importing, their impact on trade participation generates indirect benefits through productivity improvements and complementarity between importing and exporting. To disentangle these effects, we separately measure importing's effect on input prices and productivity and examine Chinese paint manufacturers' reaction to input tariff liberalization. We find that a mild short‐term effect of tariff liberalization is lified in the long run by induced trade participation, resulting in even higher productivity and lower input prices.
Publisher: Elsevier BV
Date: 05-2020
Publisher: Oxford University Press (OUP)
Date: 08-06-2022
DOI: 10.1093/EJ/UEAB048
Abstract: In this paper we investigate the impact of external monitoring from the government on state-owned enterprise performance, using the variation in monitoring strength arising from a nationwide policy change and firms’ geographic location in China. We utilise a structural approach to estimate input prices and productivity separately at the firm level using commonly available production data. We show that enhanced external monitoring, as a key component of corporate governance, can substantially reduce managerial expropriation in procurement (proxied by input prices) and shirking in production management (proxied by productivity). The results suggest that government monitoring can be an effective policy instrument to improve state-owned enterprise performance.
Publisher: Elsevier BV
Date: 2018
Publisher: Elsevier BV
Date: 11-2018
No related grants have been discovered for Shengyu Li.