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Partial Privatization, Capital Allocation Distortion and the Large SOE Reforms in China-Theory and Evidence
Shen, Jim Huangnan; Liu, Fang; Zhang, Jun; Lee, Chien-Chiang - 2019
This paper considers the non-monotonic effect of the partial privatization campaign on the capital allocation … distortion of large SOEs in China by using the Chinese firm-level panel data. We construct a theoretical model to show that the … rise in the degree of partial privatization has the non-monotonic effect of removing the capital allocation distortion …
Persistent link: https://www.econbiz.de/10014110299
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The Partial Reform Equilibrium of China’s Large SOEs : Theory and Evidence
Shen, Jim Huangnan - 2020
characterizes China's state sector. The model demonstrates the nature of the bargain between the principals (i.e., officials from … China's State Asset Council) and the agents (large-SOE managers). We derive an indifference payoff point, which maximizes … party in the game. This condition helps to explain the inability of China's political economy system to privatize …
Persistent link: https://www.econbiz.de/10012853205
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Toward a Theory of Internal Governance Structure of China’s large SOEs
Shen, Jim Huangnan; Zhang, Jun; Lee, Chien-Chiang; Li, … - 2020
of large state-owned enterprises (SOEs) in China. Our model shows that the delegation of decision making authority to SOE … of the party-committee control within large SOEs in China …
Persistent link: https://www.econbiz.de/10014106927
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A Multi-Task Theory of the State Enterprise Reform
Bai, Chong-En; Li, David D.; Tao, Zhigang; Wang, Yijiang - 2001
During transition, maintaining employment and providing a social safety net to the unemployed are important to social stability, which in turn is crucial for the productivity of the whole economy. Because independent institutions for social safety are lacking and firms with strong profit...
Persistent link: https://www.econbiz.de/10014144003
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From Mises and Hayek to the Planned and Mixed Economy. Planning Criteria, Basic Income, Guaranteed Job
Stefanov, Yaroslav - 2022
Arguments of Mises and Hayek, who opposed the planned economy (PE), are used in the paper as a starting point for establishing the objective area of effective application of the PE. The abstract model of PE, based on the definitions of Mises and Hayek, leads to the conclusion that for the...
Persistent link: https://www.econbiz.de/10013307027
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How will ownership in China's industrial sector evolve with WTO accession?
Liu, Guy Shaojia; Woo, Wing Thye - In: China economic review : an international journal 12 (2001) 2/3, pp. 137-161
Persistent link: https://www.econbiz.de/10001612985
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Necroeconomics – The Theory of Post-Communist Transformation of an Economy
Papava, Vladimer - 2012
In the last decade, nearly a dozen countries, once part of the USSR, have undertaken the transition to market economies. In some cases, the new economic systems that have developed cannot be squeezed into any theoretically generalized models of capitalism. The main reason these systems evade...
Persistent link: https://www.econbiz.de/10014163296
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Inflationary Effect of Oil-Price Shocks in an Imperfect Market : A Partial Transmission Input-Output Analysis
Wu, Libo - 2011
This paper aims to examine the impacts of oil-price shocks on China's price levels. To that end, we develop a partial …-through mechanism during oil-price shocks. Using the models of both China and the U.S., we separate the impact of price control from … those of other factors leading to China's price stickiness under oil-price shocks. The results show a sharp contrast between …
Persistent link: https://www.econbiz.de/10013126116
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Inflationary Effect of Oil-Price Shocks in an Imperfect Market : A Partial Transmission Input-Output Analysis
Wu, Libo - 2011
This paper aims to examine the impacts of oil-price shocks on China's price levels. To that end, we develop a partial …-through mechanism during oil-price shocks. Using the models of both China and the U.S., we separate the impact of price control from … those of other factors leading to China's price stickiness under oil-price shocks. The results show a sharp contrast between …
Persistent link: https://www.econbiz.de/10013127675
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Inflationary effect of oil-price shocks in an imperfect market : a partial transmission input-output analysis
Wu, Libo; Li, Jing; Zhang, ZhongXiang - 2011
This paper aims to examine the impacts of oil-price shocks on China's price levels. To that end, we develop a partial …-through mechanism during oil-price shocks. Using the models of both China and the U.S., we separate the impact of price control from … those of other factors leading to China's price stickiness under oil-price shocks. The results show a sharp contrast between …
Persistent link: https://www.econbiz.de/10008934659