A. Alesina and G. Tabellini, Bureaucrats or politicians? part i: A single policy task, Am. Econ. Rev, vol.97, pp.169-179, 2007.

A. Alesina and G. Tabellini, Bureaucrats or politicians? part II: Multiple policy tasks, J. Public Econ, vol.92, issue.3, pp.426-447, 2008.

D. C. Andersen, Credit constraints, technology upgrading, and the environment, Journal of the Association of Environmental and Resource Economists, vol.3, issue.2, pp.283-319, 2016.

D. C. Andersen, Do credit constraints favor dirty production? theory and plant-level evidence, J. Environ. Econ. Manage, vol.84, pp.189-208, 2017.

E. B. Barbier and J. C. Burgess, Sustainable development goal indicators: Analyzing trade-offs and complementarities, World Dev, vol.122, pp.295-305, 2019.

J. Berger, Signaling can increase consumers' willingness to pay for green products. theoretical model and experimental evidence, J Consumer Behav, vol.18, issue.3, pp.233-246, 2019.

E. Berglof and G. Roland, Soft budget constraints and banking in transition economies, J. Comp. Econ, vol.26, issue.1, pp.18-40, 1998.

V. Brajer, R. W. Mead, and F. Xiao, Searching for an environmental kuznets curve in china's air pollution, China Econ. Rev, vol.22, issue.3, pp.383-397, 2011.

L. Brandt and H. Li, Bank discrimination in transition economies: ideology, information, or incentives?, J. Comp. Econ, vol.31, issue.3, pp.387-413, 2003.

X. Cai, Y. Lu, M. Wu, and L. Yu, Does environmental regulation drive away inbound foreign direct investment? evidence from a quasi-natural experiment in china, J. Dev. Econ, vol.123, pp.73-85, 2016.

J. Cao, R. Garbaccio, and M. S. Ho, China's 11th Five-Year plan and the environment: Reducing SO2 emissions, Rev Environ Econ Policy, vol.3, issue.2, pp.231-250, 2009.

S. Chen, P. Oliva, and P. Zhang, The effect of air pollution on migration: Evidence from china, 2017.

Y. J. Chen, P. Li, and Y. Lu, Career concerns and multitasking local bureaucrats: Evidence of a target-based performance evaluation system in china, J. Dev. Econ, vol.133, pp.84-101, 2018.

M. Cole and R. Elliott, Determining the trade-environment composition effect: the role of capital, labor and environmental regulations, J. Environ. Econ. Manage, vol.46, issue.3, pp.363-383, 2003.

M. Cole, R. Elliott, and S. Wu, Industrial activity and the environment in china: An industry-level analysis, China Econ. Rev, vol.19, issue.3, pp.393-408, 2008.

M. Dewatripont, I. Jewitt, and J. Tirole, The economics of career concerns, part II: Application to missions and accountability of government agencies, Rev. Econ. Stud, vol.66, issue.1, pp.199-217, 1999.

M. Dewatripont, I. Jewitt, and J. Tirole, Multitask agency problems: Focus and task clustering, Eur. Econ. Rev, vol.44, issue.4, pp.869-877, 2000.

D. Dollar and S. Wei, Das (wasted) kapital: Firm ownership and investment efficiency in china, National Bureau of Economic Research, p.29, 2007.

, Documents de travail du Centre d'Economie de la Sorbonne

. Ma,

S. Dougherty, R. Herd, and P. He, Has a private sector emerged in china's industry? evidence from a quarter of a million chinese firms, China Econ. Rev, vol.18, issue.3, pp.309-334, 2007.

G. Ferri and L. Liu, Honor thy creditors beforan thy shareholders: Are the profits of chinese State-Owned enterprises real?, 2009.

M. Fujita and J. Thisse, Economics agglomeration cities industrial location and globalization, 2013.

G. M. Grossman and A. B. Krueger, Economic growth and the environment, Q. J. Econ, vol.110, issue.2, pp.353-377, 1995.

P. Guimarães, O. Figueiredo, and D. Woodward, Agglomeration and the location of foreign direct investment in portugal, J. Urban Econ, vol.47, issue.1, pp.115-135, 2000.

G. Hale and C. Long, Chapter 13 what are the sources of financing for chinese firms?, Emerald Group Publishing Limited, vol.9, pp.313-339, 2011.

K. He, H. Huo, and Q. Zhang, Urban air pollution in china: Current status, characteristics, and progress, Annu. Rev. Energy Environ, vol.27, issue.1, pp.397-431, 2002.

L. Hering and S. Poncet, Environmental policy and exports: Evidence from chinese cities, J. Environ. Econ. Manage, vol.68, issue.2, pp.296-318, 2014.
URL : https://hal.archives-ouvertes.fr/hal-01162230

H. Huang and C. Xu, Soft budget constraint and the optimal choices of research and development projects financing, J. Comp. Econ, vol.26, issue.1, pp.62-79, 1998.

Y. Huang, One country, two systems: Foreign-invested enterprises and domestic firms in china, China Econ. Rev, vol.14, issue.4, pp.404-416, 2003.

L. Jiang, C. Lin, and P. Lin, The determinants of pollution levels: Firmlevel evidence from chinese manufacturing, J. Comp. Econ, vol.42, issue.1, pp.118-142, 2014.

J. Kornai, The evolution of financial discipline under the postsocialist system, Kyklos, vol.46, issue.3, pp.315-336, 1993.

J. Kornai, Eliminating the shortage economy: a general analysis and examination of the developments in hungary, Economics of Transition, vol.3, issue.1, pp.13-37, 1995.

J. Kornai, Legal obligation, Non-Compliance and soft budget constraint, 1998.

J. Kornai, Hardening the budget constraint: The experience of the postsocialist countries, Eur. Econ. Rev, vol.45, issue.9, pp.1573-1599, 2001.

J. Kornai, E. Maskin, and G. Roland, Understanding the soft budget constraint, J. Econ. Lit, vol.41, issue.4, pp.1095-1136, 2003.

E. Kraft and M. Vodopivec, How soft is the budget constraint for yugoslav firms?, J. Comp. Econ, vol.16, issue.3, pp.432-455, 1992.

S. Lee and D. Oh, Economic growth and the environment in china: Empirical evidence using prefecture level data, China Econ. Rev, vol.36, pp.73-85, 2011.

G. S. Olley and A. Pakes, The dynamics of productivity in the telecommunications equipment industry, Econometrica, vol.64, issue.6, pp.1263-1297, 1996.

Y. Qian and G. Roland, The soft budget constraint in china, Japan World Econ, vol.8, issue.2, pp.207-223, 1996.

Y. Qian and G. Roland, Federalism and the soft budget constraint, Am. Econ. Rev, vol.88, issue.5, pp.1143-1162, 1998.

X. Shi and Z. Xu, Environmental regulation and firm exports: Evidence from the eleventh Five-Year plan in china, J. Environ. Econ. Manage, vol.89, pp.187-200, 2018.

M. Vahabi, Le secteur nonétatique, la contrainte budgétaire lâche et la politique de la porte ouverte en chine, Rev. Etud. Comp. Est. Ouest, vol.26, issue.2, pp.161-182, 1995.

M. Vahabi, The soft budget constraint : A theoretical clarification, Recherche? Economiques de Louvain / Louvain Economic Review, vol.67, issue.2, pp.157-195, 2001.
URL : https://hal.archives-ouvertes.fr/hal-00629160

M. Vahabi, Soft budget constraint reconsidered, Bull. Econ. Res, vol.66, issue.1, pp.1-19, 2014.
URL : https://hal.archives-ouvertes.fr/hal-02196947

H. Wang, N. Mamingi, B. Laplante, and S. Dasgupta, Incomplete enforcement of pollution regulation: Bargaining power of chinese factories, Environ. Resour. Econ, vol.24, issue.3, pp.245-262, 2003.

H. Wang and D. Wheeler, Financial incentives and endogenous enforcement in china's pollution levy system, J. Environ. Econ. Manage, vol.49, issue.1, pp.174-196, 2005.

Z. Wang and S. Wei, What accounts for the rising sophistication of china's exports? In China's growing role in world trade, pp.63-104, 2008.

H. Wu, H. Guo, B. Zhang, and M. Bu, Westward movement of new polluting firms in china: Pollution reduction mandates and location choice, J. Comp. Econ, vol.45, issue.1, pp.119-138, 2017.

L. Zhang, The roles of corporatization and stock market listing in reforming china's state industry, World Dev, vol.32, issue.12, pp.2031-2047, 2004.