Targeted monetary policy and financing constraints of Chinese small businesses

Volume: 57, Issue: 4, Pages: 2107 - 2124
Published: Jun 18, 2020
Abstract
This study examines the effect of targeted easing (TE), an unconventional monetary policy designed to reduce reserve requirement ratios (RRR) of selected financial institutions, on reducing financing constraints of Chinese small businesses. Using a longitudinal sample of listed small businesses between 2003 and 2018, we find that the implementation of a TE policy significantly reduces financing constraints of small businesses as measured by the...
Paper Details
Title
Targeted monetary policy and financing constraints of Chinese small businesses
Published Date
Jun 18, 2020
Volume
57
Issue
4
Pages
2107 - 2124
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