| Budget Amount *help |
¥4,940,000 (Direct Cost: ¥3,800,000、Indirect Cost: ¥1,140,000)
Fiscal Year 2013: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2012: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2011: ¥2,080,000 (Direct Cost: ¥1,600,000、Indirect Cost: ¥480,000)
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| Research Abstract |
First, econometric analysis using province-level panel data finds that proper functioning of the legal system and bank lending to non-state-sector firms are highly likely to be the essential causes of development of trade credit finance in China. Second, according to field survey and econometric analysis using firm-level micro data, improved quality of legal system can most strongly promote development of trade credit or evolution from informal finance in the form of advanced payment to trade credit. Third, another micro-econometric analysis disentangles in more details the causal relationships between development of trade credit, legal system, competitiveness of market, corruption of government, and presence of informal finance.
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