Series: IMF Working Papers
Author(s): W. Raphael Lam , Alfred Schipke , Yuyan Tan , and Zhibo Tan
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 27 November 2017
Keywords: Corporate debt, Debt restructuring, Asia and Pacific, China, state-owned enterprises, and zombie firms, zombie firms, General, Firm Behavior: Empirical Analysis
Nonviable 'zombie' firms have become a key concern in China. Using novel firm-level industrial survey data, this paper illustrates the central role of zombies and their strong linkages with stateowned enterprises (...