Default and Bankruptcy Resolution in China

Literature Cited

1. Allen F, Qian Y, Tu G, Yu F. 2019. Entrusted loans: a close look at China's shadow banking system. J. Financ. Econ. 133:118–81
   [Google Scholar]
2. Amstad M, He Z 2020. Chinese bond markets and interbank market. The Handbook of China's Financial System, ed. M Amstad, G Sun, W Xiong Princeton, NJ: Princeton Univ. Press
   [Google Scholar]
3. Ang A, Bai J, Zhou H. 2016. The great wall of debt: real estate, political risk, and Chinese local government credit spreads Work. Pap., Georgetown Univ. Washington, DC:
4. Avgouleas E, Goodhart C. 2017. Utilizing AMCs to tackle the Eurozone's legacy non-performing loans. Eur. Econ. Banks Regul. Real Sect. 2017:183–95
   [Google Scholar]
5. Bank Int. Settl 2022. Total credit to non-financial corporations (core debt). Bank Int. Settl. Basel, Switz: https://stats.bis.org/statx/srs/table/f4.1
6. Bernstein S, Hoffman M, Iverson B. 2022. Life after death: a field experiment with small businesses on information frictions, stigma, and bankruptcy Work. Pap., Becker Friedman Inst. Univ. Chicago:
7. Booth CD. 2008. The 2006 PRC enterprise bankruptcy law: The wait is finally over. Singap. Acad. Law J. 20:275–315
   [Google Scholar]
8. Brunnermeier MK, Sockin M, Xiong W. 2022. China's model of managing the financial system. Rev. Econ. Stud. 89:63115–53
   [Google Scholar]
9. CBIRC (China Bank. Insur. Regul. Comm.) 2013. China Banking Regulatory Commission regulations on the investment operations of commercial banks' wealth management business. Doc. 8, March CBIRC Beijing: http://www.cbirc.gov.cn/cn/view/pages/governmentDetail.html?docId=274660&itemId=861&generaltype=1
10. CBIRC (China Bank. Insur. Regul. Comm.) 2022. Non-performing loan database. Statistics Database CBIRC Beijing: accessed Apr. 15. http://www.cbirc.gov.cn/cn/view/pages/tongjishuju/tongjishuju.html
11. Charoenwong B, Miao M, Ruan T. 2022. Non-performing loan disposals without resolution. Work. Pap., Nat. Univ. Singap.
12. Chen K, Ren J, Zha T. 2018. The nexus of monetary policy and shadow banking in China. Am. Econ. Rev. 108:123891–936
    [Google Scholar]
13. Chen Z, He Z, Liu C. 2020. The financing of local government in China: Stimulus loan wanes and shadow banking waxes. J. Financ. Econ. 137:142–71
    [Google Scholar]
14. Cong LW, Gao H, Ponticelli J, Yang X. 2019. Credit allocation under economic stimulus: evidence from China. Rev. Financ. Stud. 32:93412–60
    [Google Scholar]
15. Eaton DL, Norley LE, Huang H, Asimacopoulos KM. 2006. China's new enterprise bankruptcy law. Pratt's J. Bankruptcy Law 2:543
    [Google Scholar]
16. Fan J, Huang J, Zhu N. 2013. Institutions, ownership structures, and distress resolution in China. J. Corp. Finance 23:171–87
    [Google Scholar]
17. Fonseca J, Van Doornik B. 2022. Financial development and labor market outcomes: evidence from Brazil. J. Financ. Econ. 143:1550–68
    [Google Scholar]
18. Geithner T. 2009. My plan for bad bank assets. Wall Street Journal, Mar. 23. https://www.wsj.com/articles/SB123776536222709061
    [Google Scholar]
19. Geng Z, Pan J. 2021. The SOE premium and government support in China's credit market NBER Work. Pap. 26575
20. Hachem KC, Song ZM. 2016. Liquidity regulation and unintended financial transformation in China NBER Work. Pap. 21880
21. Hachem KC, Song ZM. 2021. Liquidity rules and credit booms. J. Political Econ. 129:102855–98
    [Google Scholar]
22. Harmer RW. 1996. Insolvency law and reform in the People's Republic of China. Fordham Law Rev. 64:2563–89
    [Google Scholar]
23. Henderson K 2007. The rule of law and judicial corruption in China: half-way over the Great Wall. Global Corruption Report: Corruption in Judicial Systems D Rodriguez, L Ehrichs 151–53. Washington, DC: Transpar. Int., Cambridge Univ. Press
    [Google Scholar]
24. Hsieh CT, Bai CE, Song MZ. 2016. The long shadow of a fiscal expansion. Brookings Pap. Econ. Act. Fall:129–65
    [Google Scholar]
25. Hsieh CT, Klenow P. 2009. Misallocation and manufacturing TFP in China and India. Q. J. Econ. 124:41403–48
    [Google Scholar]
26. Huang Y, Pagano M, Panizza U. 2020. Local crowding-out in China. J. Finance 75:62855–98
    [Google Scholar]
27. INSOL Int. 2018. PRC enterprise bankruptcy law and practice in China. Tech. Rep., INSOL Int. London:
28. Iverson B. 2017. Get in line: Chapter 11 restructuring in crowded bankruptcy courts. Manag. Sci. 64:115370–94
    [Google Scholar]
29. Jiang Y. 2013. The curious case of inactive bankruptcy practice in China: a comparative study of US and Chinese bankruptcy law. Northwest. J. Int. Law Bus. 34:559–82
    [Google Scholar]
30. Jin S, Wang W, Zhang Z. 2023. The real effects of implicit government guarantee: evidence from Chinese state-owned enterprise defaults. Manag. Sci. 69:63650–74
    [Google Scholar]
31. Lee E. 2011. The reorganization process under China's corporate bankruptcy system. Int. Law 45:939
    [Google Scholar]
32. Li B, Li M, Li S, Liu LX. 2023. The value of bankruptcy court in financial distress: evidence from Chinese bond market SSRN Work. Pap. 4285149
33. Li B, Ponticelli J. 2022. Going bankrupt in China. Rev. Finance 26:3449–86
    [Google Scholar]
34. Liebman BL, Roberts ME, Stern RE, Wang AZ. 2020. Mass digitization of Chinese court decisions: how to use text as data in the field of Chinese law. J. Law Courts 8:2177–201
    [Google Scholar]
35. Liu LX, Lyu Y, Yu F. 2021. Implicit government guarantee and the pricing of Chinese LGFV debt. J. Financ. Res. 498:12170–88
    [Google Scholar]
36. Liu Z, Wong T, Yi Y, Zhang T. 2022. Authoritarian transparency: China's missing cases in court disclosure. J. Comp. Econ. 50:1221–39
    [Google Scholar]
37. Ponticelli J, Alencar LS. 2016. Court enforcement, bank loans, and firm investment: evidence from a bankruptcy reform in Brazil. Q. J. Econ. 131:31365–413
    [Google Scholar]
38. Rodano G, Serrano-Velarde N, Tarantino E. 2016. Bankruptcy law and bank financing. J. Financ. Econ. 120:2363–82
    [Google Scholar]
39. Song Z, Storesletten K, Zilibotti F. 2011. Growing like China. Am. Econ. Rev. 101:1196–233
    [Google Scholar]
40. State Council People's Repub. China 2014. Strengthening the management of local government debts, Doc. 43 http://www.gov.cn/zhengce/content/2014-10/02/content111.htm
41. Supreme People's Court 2021. The supreme court statistics. Tech. Rep. Beijing: http://gongbao.court.gov.cn/Details/a6c42e26948d3545aea5419fa2beaa.html
42. Visaria S. 2009. Legal reform and loan repayment: the microeconomic impact of debt recovery tribunals in India. Am. Econ. J. Appl. Econ. 1:359–81
    [Google Scholar]
43. Wind 2021. Bond default database. Wind Database, Wind, Shanghai accessed May 20. https://www.wind.com.cn/portal/zh/Home/index.html
    [Google Scholar]
44. World Bank 2023. Resolving insolvency: time (years), average of variable between 2014 and 2020. Doing Business Database, World Bank Washington, DC: accessed Jan. https://databank.worldbank.org/source/doing-business