id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
fbem-14769	Liu, Yuzheng	Study on the Impact of Financing Constraints on The Marketization Process: Based on A Domestic Macro-Circulation Perspective	2023	8	.pdf	application/pdf	6232	311	44	Compared with the existing literature, the possible innovations of this paper are as follows: firstly, from the research content, this paper is based on the micro perspective of enterprise financing constraints and the macro perspective of the domestic macro-cycle, and it is the first time to study the relationship between enterprise financing constraints and the domestic macro-cycle, and it proposes a number of conduction paths for validation, which enriches the theory of financing constraints and the domestic macro-cycle from the analysis of heterogeneity from multiple perspectives, and provides policy suggestions and guidance that can be entered into and specifically operated in order to facilitate the domestic macro-cycle in China. The results are shown in column (2), and the estimated coefficient of KZ is also significantly negative at 1% level, which indicates that enterprise financing constraints are negatively correlated with the process of marketization, i.e., the higher the degree of enterprise financing constraints, the lower the process of marketization, and the lower the level of the domestic macrocycle.	cache/fbem-14769.pdf	txt/fbem-14769.txt