Renmin University of China
National Academy of Development and Strategy
Institutional Affiliation: Renmin University of China
NBER Working Papers and Publications
|July 2020||Window Dressing in the Public Sector: A Case Study of China’s Compulsory Education Promotion Program|
with , : w27628
We examine window dressing phenomenon in the public sector by studying the strategic responses of Chinese local officials to the compulsory education promotion program launched by the central government in the 1990s. According to this program, the Chinese counties should receive inspections on whether the compulsory educational targets were achieved on pre-scheduled time by provincial governments; and failing to pass the inspection would have severe negative career consequences for the county leaders. We find that county-level educational expenditures saw a sustained increase before the inspection, but a sharp drop immediately after the inspection. Local officials who were more likely to be inspected within their tenures window-dressed more aggressively. As a result, middle school enrollme...
|November 2018||China's Real Estate Market|
with : w25297
Since the 1990s, China's real estate market has experienced a dramatic and long-lasting boom across China. This boom has led to substantial concerns in both academic and policy circles that the rising housing prices might have developed into a gigantic housing bubble, which might eventually burst and damage China’s financial system and economy. Motivated by this concern, this paper reviews the historical development of China’s real estate market, describes the real estate boom, and discusses its links to households, local governments, firms and the financial system.