Under New Ownership: Privatizing China's State-owned EnterprisesWorld Bank Publications, 2006 - 284 páginas Although China's centrally planned economy is a little more than a shadow of its former self, the closely inter-linked reforms of the enterprise and banking sectors are still incomplete. The relative size of the state-owned enterprise sector has been much reduced, however, the sector remains the dominant borrower from the banking system and is responsible for the majority of bank non-performing assets. Thus in the interests of financial stability it is crucial to implement the remaining reform agenda. The accession to the WTO has also made it more urgent for China's most-dynamic state-owned en. |
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Página 1
... shows no signs of abating even after more than two decades (Riskin 1987, p. 284). The first round of reforms initiated the dismantling of the team-based, communal agricultural system and granted increasing production autonomy to ...
... shows no signs of abating even after more than two decades (Riskin 1987, p. 284). The first round of reforms initiated the dismantling of the team-based, communal agricultural system and granted increasing production autonomy to ...
Página 6
... shows that between 1979 and 1998, capital accumulation contributed the bulk of the growth. In fact, the share of capital rose from 63 percent in 1979–89 to 67 percent in 1990–8. But Table 1.2 Contributions to Output Growth (percentage ...
... shows that between 1979 and 1998, capital accumulation contributed the bulk of the growth. In fact, the share of capital rose from 63 percent in 1979–89 to 67 percent in 1990–8. But Table 1.2 Contributions to Output Growth (percentage ...
Página 7
... shows that between 70 percent (1979–84) and 90 percent (1995–8) of the gains were derived from the transfer of labor out of the primary sector to higher-value-adding activities in secondary and tertiary industries, some of which benefit ...
... shows that between 70 percent (1979–84) and 90 percent (1995–8) of the gains were derived from the transfer of labor out of the primary sector to higher-value-adding activities in secondary and tertiary industries, some of which benefit ...
Página 15
... shows that TFP increased substantially for all classes of enterprises in the second half of the 1980s, and that TFP growth of COEs and of privately owned enterprises remained robust in the period 1990–6. However, TFP growth of SOEs was ...
... shows that TFP increased substantially for all classes of enterprises in the second half of the 1980s, and that TFP growth of COEs and of privately owned enterprises remained robust in the period 1990–6. However, TFP growth of SOEs was ...
Página 20
... shows that restructuring involving the exit and entry of firms was responsible for most of the growth in TFP and about one-half of the increase in labor productivity (Disney, Haskel, and Heden 2003). 34. There are exceptions, of course ...
... shows that restructuring involving the exit and entry of firms was responsible for most of the growth in TFP and about one-half of the increase in labor productivity (Disney, Haskel, and Heden 2003). 34. There are exceptions, of course ...
Otras ediciones - Ver todas
Under New Ownership: Privatizing China's State-owned Enterprises Shahid Yusuf,Kaoru Nabeshima Vista de fragmentos - 2006 |
Under New Ownership: Privatizing China's State-owned Enterprises Shahid Yusuf,Kaoru Nabeshima,Dwight Heald Perkins Vista de fragmentos - 2006 |
Términos y frases comunes
added assets Authors banks Beijing better board of directors budget Bureau capital central changes chapter China Chinese cities collective companies compared competition constraints continued contracts corporate costs countries create decisions direct discussion domestic East Economic effect efficiency efforts Electronic enterprises estimates evidence factor findings firms foreign gains global groups growth important improve incentives increase indicate industrial initial innovation institutions investment joint ventures labor lead less limited major managers manufacturing measures mergers million Model Note operating organization output ownership percent performance period political positive Press privatization productivity profits reformed SOEs remained restructuring role rules sample sector selection Shanghai share shareholders shows significant Source state-owned enterprises Statistics strategy structure survey Table trade transition types United University variables vehicle workers World
Pasajes populares
Página 57 - The irrational system of pricing is closely related to the irrational system of price control. In readjusting prices, we must reform the over-centralized system of price control, gradually reducing the scope of uniform prices set by the state and appropriately enlarging the scope of floating prices within certain limits and of free prices.
Página 57 - ... cultural development of its various regions and we must realize that because of China's rather undeveloped commodity production at the present stage, it is necessary to stimulate commodity production and exchange. In view of all this, it is all the more urgent for us to institute this planning system. If the actual conditions of our country are ignored and if we try to incorporate all economic activities into the plans and implement them by administrative orders alone in disregard of the importance...
Página 57 - ... the superiority of a socialist economy over a capitalist economy. Since the founding of the People's Republic, we have practised a planned economy and concentrated vast financial, material and human resources on large-scale socialist economic construction with tremendous achievements to our credit. At the same time, historical experience shows that the socialist planning system should be one that combines uniformity and flexibility.
Página 57 - Socialist society practises a planned economy on the basis of public ownership of the means of production. It can thus avoid the anarchy of production and cyclical crises characteristic of capitalist society and ensure that production constantly meets the growing material and cultural needs of the people.
Página 241 - Anderson, James H., Young Lee, and Peter Murrell, 2000, "Competition and Privatization Amidst Weak Institutions: Evidence from Mongolia,
Página 149 - ... profitability and productivity of Chinese industrial firms. Several methodological issues concerning profit measurements of enterprises under different ownership structures are identified and discussed. Test results based on a panel data set provide evidence that capital structures, taxes and welfare burdens have a significant effect on the financial performance of Chinese enterprises. After adjusting for these effects, state-owned enterprises still show poor financial performance, which is attributable...
Página 57 - ... economy. Therefore, reform of the price system is the key to reform of the entire economic structure. Our present irrational price system finds expression mainly in the following : inadequate price differentials for a given product with diverse quality : irrational price ratios between different commodities, particularly the relatively low prices for some mineral products and raw and semi-finished materials ; and the retail price of major farm and sideline products being lower than their state...
Página 136 - Finds privatization alone added nearly 10 percentage points to the revenue growth of a firm sold to outside owners. Most important, finds that the threat of hard budget constraints for poorly performing SOEs falters, since governments are unwilling to allow these firms to fail. The brunt of the lower creditworthiness of SOEs falls on state creditors.
Página 67 - In China's economic growth, we shall persist in taking public ownership as the main body and developing diverse economic sectors, bringing into play the beneficial and necessary supplementary role of the individual economy, the private economy, Chinese-foreign joint ventures, co-operative enterprises and foreign-owned enterprises.
Página 284 - DWIGHT H. PERKINS is the Harold Hitchings Burbank Professor of Political Economy at Harvard University.