This paper begins by using a structure-conduct-performance perspective to show that partial reform improved the operation of China's state industries during the 1980s. The authors review the achievements of industries outside the state sector, emphasizing their links to the state sector. The...

The reform of China's enterprise system increasingly reflects the outcome of China's emerging property rights market. We distinguish between a centrally-directed reform strategy, with characteristics similar to those of a Pigouvian tax, and a market-driven reform process, which captures the...