The Reform of Universal Management of People and Property in the Local Courts Below Province Promote Cross-Regional Investment
After 2014,China launched the reform of"universal management of people and property in the local courts below province"in stages.We find that the number of cross-regional investments by com-panies has increased significantly after the reform.The effect is stronger in regions with higher levels of fi-nancial development,non-state-owned enterprises,enterprises with legal background or non-inter-provin-cial investment.Mechanism analysis shows that the reform will improve the property rights protection,enhance the protection of corporate interests and reduce institutional transaction costs.Breaking judicial lo-cal protectionism is conducive to breaking market barriers and constructing a unified national market.
reform of universal management of people and property in the local courts below provincecross-regional investmentsjudicial local protectionism
万方数据
维普
