Environmental policies with financing constraints in China

Allen, 2005, Law, finance, and economic growth in China, J. Financ. Econ., 77, 57, 10.1016/j.jfineco.2004.06.010 Angelopoulos, 2010 Angelopoulos, 2013, First- and second-best allocations under economic and environmental uncertainty, Int. Tax Public Financ., 20, 360, 10.1007/s10797-012-9234-z Annicchiarico, 2015, Environmental policy and macroeconomic dynamics in a new Keynesian model, J. Environ. Econ. Manag., 69, 1, 10.1016/j.jeem.2014.10.002 Bernanke, 1999, The financial accelerator in a quantitative business cycle framework, 1341, 10.1016/S1574-0048(99)10034-X Brandt, 2003, Bank discrimination in transition economies: ideology, information, or incentives?, J. Comp. Econ., 3, 387, 10.1016/S0147-5967(03)00080-5 Chan, 2020, Are macroeconomic policies better in curbing air pollution than environmental polices? A DSGE approach with carbon-dependent fiscal and monetary policies, Energy Policy, 141, 111454, 10.1016/j.enpol.2020.111454 Chan, 2012, Chinese firms? Political connection, ownership and financing constraints, Econ. Lett., 11, 164, 10.1016/j.econlet.2011.12.008 Chong, 2013, Does banking competition alleviate or worsen credit constraints faced by small- and medium-sized enterprises? Evidence from China, J. Bank. Financ., 9, 3412, 10.1016/j.jbankfin.2013.05.006 Claessens, 2006 Cui, 2014, How will the emissions trading scheme save cost for achieving China’s 2020 carbon intensity reduction target? Appl, Energy, 136, 1043 Cull, 2005, Institutions, ownership, and finance: the determinants of profit reinvestment among Chinese firms, J. Financ. Econ., 77, 117, 10.1016/j.jfineco.2004.05.010 Cull, 2015, Government connections and financial constraints: evidence from a large representative sample of Chinese firms, J. Corp. Finan., 32, 271, 10.1016/j.jcorpfin.2014.10.012 Dissou, 2016, Emissions cap or emissions tax? A multi-sector business cycle analysis, J. Environ. Econ. Manag., 79, 169, 10.1016/j.jeem.2016.05.002 Erceg, 2000, Optimal monetary policy with staggered wage and price contracts, J. Monet. Econ., 46, 281, 10.1016/S0304-3932(00)00028-3 Fan, 2017, What policy adjustments in the EU ETS truly affected the carbon prices?, Energy Policy, 103, 145, 10.1016/j.enpol.2017.01.008 Fischer, 2011, Emissions targets and the real business cycle: intensity targets versus caps or taxes, J. Environ. Econ. Manag., 62, 352, 10.1016/j.jeem.2011.04.005 Heutel, 2012, How should environmental policy respond to business cycles? Optimal policy under persistent productivity shocks, Rev. Econ. Dyn., 15, 244, 10.1016/j.red.2011.05.002 Iacovieello, 2005, House prices, borrowing constraints and monetary policy in the business cycle, Am. Econ. Rev., 95, 739, 10.1257/0002828054201477 Jiang, 2016, Market power in auction and efficiency in emission permits allocation, J. Environ. Manag., 183, 576, 10.1016/j.jenvman.2016.08.083 Khan, 2017, Financing and monitoring in an emerging economy: Can investment efficiency be increased?, China Econ. Rev., 45, 62, 10.1016/j.chieco.2017.05.012 Kiyotaki, 1997, Credit cycles, J. Polit. Econ., 105, 211, 10.1086/262072 Liu, 2018, Business perspective to the national greenhouse gases emissions trading scheme: a survey of cement companies in China, Energy Policy, 112, 141, 10.1016/j.enpol.2017.10.019 Nalban, 2018, Forecasting with DSGE models: what frictions are important?, Econ. Model., 68, 190, 10.1016/j.econmod.2017.07.015 Niu, 2018, Environmental tax shocks and carbon emissions: an estimated DSGE model, Struct. Chang. Econ. Dyn., 47, 9, 10.1016/j.strueco.2018.06.005 Pan, 2020, Environmental expenditure spillovers: evidence from an estimated multi-area DSGE model, Energy Econ., 86, 1, 10.1016/j.eneco.2019.104645 Poncet, 2010, Financial constraints in China: firm-level evidence, China Econ. Rev., 21, 411, 10.1016/j.chieco.2010.03.001 Pop, 2017, A small-scale DSGE-VAR model for the Romanian economy, Econ. Model., 67, 1, 10.1016/j.econmod.2016.07.011 Pye, 2002, Integrating China into the global economy, Foreign Affairs, 81, 176 Rajan, 1998, Financial dependence and growth, Am. Econ. Rev., 88, 559 Rausch, 2016, Household heterogeneity, aggregation, and the distributional impacts of environmental taxes, J. Public Econ., 138, 43, 10.1016/j.jpubeco.2016.04.004 Smets, 2007, Shocks and frictions in US business cycle: a Bayesian DSGE approach, Am. Econ. Rev., 97, 586, 10.1257/aer.97.3.586 Song, 2011, Growing Like China, Am. Econ. Rev., 101, 196, 10.1257/aer.101.1.196 Tian, 2020, The economic consequences of environmental regulation in China: from a perspective of the environmental protection admonishing talk policy, Bus. Strateg. Environ., 29, 1723, 10.1002/bse.2464 Tsai, 2014, The effect of banking system reform on investment? Cash flow sensitivity: evidence from China, J. Bank. Financ., 46, 166, 10.1016/j.jbankfin.2014.04.022 Uhlig, 2001, 30 Wang, 2017, Borrowing constraint, heterogeneous production sectors and policy implications: the case of China, Int. Rev. Econ. Financ., 49, 568, 10.1016/j.iref.2017.03.017 Weitzman, 1974, Prices vs. quantities, Rev. Econ. Stud., 41, 477, 10.2307/2296698 Xiao, 2018, Exploring the macroeconomic fluctuations under different environmental policies in China: a DSGE approach, Energy Econ., 76, 439, 10.1016/j.eneco.2018.10.028 Xu, 2015, How industrialization and urbanization process impacts on CO2 emissions in China: evidence from nonparametric additive regression models, Energy Econ., 48, 188, 10.1016/j.eneco.2015.01.005 Zhang, 2009, China’s monetary policy: quantity versus price rules, J. Macroecon., 31, 473, 10.1016/j.jmacro.2008.09.003 Zhang, 2010, An overview of current research on EU ETS: evidence from its operating mechanism and economic effect, Appl. Energy, 87, 1804, 10.1016/j.apenergy.2009.12.019 Zhang, 2020, Examining the economic and environmental effects of emissions policies in China: a Bayesian DSGE model, J. Clean. Prod., 255, 1 Zhang, 2019, Does bank competition alleviate financing constraints in China? Further evidence from listed firms, Emerg. Mark. Financ. Trade, 55, 2124, 10.1080/1540496X.2018.1564905