雙周論壇

NO. 316 報告人:陳曉光

——Re-allocation of Political Connection and Taxation over Local Political Cycles

編輯:admin 時間:2019年05月17日 訪問次數:556

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題目:Re-allocation of Political Connection and Taxation over Local Political Cycles

報告人:陳曉光  助理教授   澳大利亞西澳大學 

主持人: 金樟峰  博士后  浙江大學經濟學院

時間:2019年5月17日   星期五    12:00-13:30

地點:浙江大學玉泉校區經濟學院418室  

 

 

Abstract:

This study investigates formation and break of companies' political connection over local political cycles in China. I document following findings. First, Companies differ considerably in their degree of political connection. On average, capital intensive companies have more politically connected top leaders as board members or executives in total number, in ratio, and in salary compensation. Second, over the local political cycles, political connection by different indicators of capital intensive companies increase with the tenure of prefectural secretaries of the CCP. The political connection indicators reach a peak in year four. Third, there is re-allocation of political connection across industries over the local political cycles. As the tenure of the prefectural secretaries rises, the political connection of the capital intensive companies increases while that of the labour intensive ones decreases. Consequently, both the effective VAT rate and credit allocation change in favour of the capital intensive firms, while to the detriment of the labour intensive counter-parts. The findings suggest that the building of political connection is frictional and takes time, and that the capital intensive firms are more liable to hold-up by local politicians and more likely to resort to political connection for protection.

 

 

Introduction:

陳曉光,分別獲得北京大學與倫敦政經學院(LSE)博士學位。現任職于西澳大利亞大學(UWA)商學院。主要研究領域為稅收、增長與發展。多篇獨立作者論文發表于Journal of Public Economics, Economic Letters,《中國社會科學》、《經濟研究》、《經濟學(季刊)》等刊物。研究成果曾獲得中國留美經濟學會“鄒至莊最佳論文獎”等獎項。

 

 

CRPE秘書處
2019-5-13