Firm performance and economic development: Evidence from a unique dataset of China

Abstract

China has been one of the world's fastest growing economies over the past 20 years; notably, it experienced an average annual growth rate of 10.56% from 2000 to 2007. Even during the financial turmoil from 2008 to 2011, China was able to maintain a stable economic performance with an annual gross domestic product (GDP) growth rate of 9.81%. However, economic expansion has been moderated to