This paper attempts to investigate whether China’s economic reform has improved enterprise performance, and what determine enterprise efficiency in the context of China’s transition. Contrast to the results of improving enterprise performance measured by TFP from other studies, this paper...

This paper is concerned with three questions: (a) how would a stockmarket help economic and industrial development in a country like China; (b) will a stockmarket be system-compatible; and (c) if a full-fledged stockmarket is indeed introduced in a socialist economy, can its “negative...