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In this paper, we test the hypothesis that business-friendly local-government policies combined with weak legal institutions lead to lower economic welfare in the form of greater fraud activity. Using data of almost 3000 failed peer-to-peer (P2P) lending platforms in China, labeled as “runaways”, we find that they are more prevalent in provinces with business-friendly policies with weak law-enforcement regimes.
Mengyin Li; Phillip Phan; Xian Sun. Business Friendliness: A Double-Edged Sword. Sustainability 2021, 13, 1819 .
AMA StyleMengyin Li, Phillip Phan, Xian Sun. Business Friendliness: A Double-Edged Sword. Sustainability. 2021; 13 (4):1819.
Chicago/Turabian StyleMengyin Li; Phillip Phan; Xian Sun. 2021. "Business Friendliness: A Double-Edged Sword." Sustainability 13, no. 4: 1819.