{"title":"跟着政客走","authors":"Yongwei Nian, Chunyang Wang","doi":"10.1257/pol.20200882","DOIUrl":null,"url":null,"abstract":"Chinese local leaders are frequently moved across prefectures. By combining local leader rotation data and comprehensive firm land parcel purchase data across prefectures from 2006 to 2016, this paper examines how firm–politician connections affect resource allocation and finds that a firm headquartered in a leader’s previous work prefecture purchases three times more land parcels in that leader’s new governing prefecture than the prefecture-year mean, at half the unit prices. Identification is from within-firm-year variation in various prefectures through exogenous politician rotation. Land usage efficiency is lower for these follower firms’ land parcels. Land allocation distortion is also economically sizable. (JEL D22, D72, O17, O18, P25, P26)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"108 1","pages":"0"},"PeriodicalIF":5.6000,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Go with the Politician\",\"authors\":\"Yongwei Nian, Chunyang Wang\",\"doi\":\"10.1257/pol.20200882\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Chinese local leaders are frequently moved across prefectures. By combining local leader rotation data and comprehensive firm land parcel purchase data across prefectures from 2006 to 2016, this paper examines how firm–politician connections affect resource allocation and finds that a firm headquartered in a leader’s previous work prefecture purchases three times more land parcels in that leader’s new governing prefecture than the prefecture-year mean, at half the unit prices. Identification is from within-firm-year variation in various prefectures through exogenous politician rotation. Land usage efficiency is lower for these follower firms’ land parcels. Land allocation distortion is also economically sizable. (JEL D22, D72, O17, O18, P25, P26)\",\"PeriodicalId\":48093,\"journal\":{\"name\":\"American Economic Journal-Economic Policy\",\"volume\":\"108 1\",\"pages\":\"0\"},\"PeriodicalIF\":5.6000,\"publicationDate\":\"2023-05-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"American Economic Journal-Economic Policy\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1257/pol.20200882\",\"RegionNum\":1,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"American Economic Journal-Economic Policy","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1257/pol.20200882","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
Chinese local leaders are frequently moved across prefectures. By combining local leader rotation data and comprehensive firm land parcel purchase data across prefectures from 2006 to 2016, this paper examines how firm–politician connections affect resource allocation and finds that a firm headquartered in a leader’s previous work prefecture purchases three times more land parcels in that leader’s new governing prefecture than the prefecture-year mean, at half the unit prices. Identification is from within-firm-year variation in various prefectures through exogenous politician rotation. Land usage efficiency is lower for these follower firms’ land parcels. Land allocation distortion is also economically sizable. (JEL D22, D72, O17, O18, P25, P26)
期刊介绍：
The American Economic Review (AER) is a general-interest economics journal. The journal publishes 12 issues containing articles on a broad range of topics. Established in 1911, the AER is among the nation's oldest and most respected scholarly journals in economics.
American Economic Journal: Economic Policy publishes papers covering a range of topics, the common theme being the role of economic policy in economic outcomes. Subject areas include public economics; urban and regional economics; public policy aspects of health, education, welfare and political institutions; law and economics; economic regulation; and environmental and natural resource economics.
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