Unlike the narrow approach currently prevailing in the literature, this paper proposes a Nash bargaining model to explore an optimal strategy for state-owned enterprise (SOE) reforms in China. We argue that ceteris paribus the current illnesses of low efficiency and rent-seeking commonly...

Developing countries have devised various industrialization strategies since the first wave of globalization in the 19th century. Now that the whole world trade system has entered the era of global supply chains, the second wave of globalization is beginning. This second wave, supported by...