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Shuo Chen), we looked at foreign direct investments (FDI) inflows into 224 Chinese cities at the prefecture level, from 2003 to 2010. We showed that the political term, as a core feature of career advancement in state bureaucracy, influences newly appointed government officials’ efforts to attract FDI. In Chinese bureaucracy, large-scale leadership turnover happens every five years, right on the heels of the Party’s National Congress. Think of it as a window of opportunity for promotions, but with a few constraints. First, the law often mandates how many terms an official can serve in one specific position. Second, promotions are based on tournaments rewarding quantified economic objectives. Third, depending on their rank, officials must retire by age 55, 60 or 65. Under these rigid career progression rules, the optimal strategy is to keep moving before reaching retirement age.

Zhitao zhuShuo chenRudolf valeria maagXiaowei rose luoisParty national congressOfficial political incentivesCorporate diversificationRose luoisFamily enterpriseValeria maagருடால்ப் வலேரியா மாக்கட்சி தேசிய காங்கிரஸ்அதிகாரி பொலிடிகல் சலுகைகள்பெருநிறுவன பல்வகைப்படுத்தல்குடும்பம் நிறுவனவலேரியா மாக்