Enterprise Reform in Chinese Industry

Jefferson, Gary H.; Rawski, Thomas G.

doi:10.1257/jep.8.2.47

Cited by 315 publications

(126 citation statements)

References 21 publications

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“…However, instead of shifting the state ownership of enterprises to private hands immediately, China's reformers first focused on improving firm autonomy and developing incentive mechanisms for managers and workers in state enterprises. Firms gained the right to retain profits and obtained unprecedented control over output beyond mandatory plan targets (Jefferson and Rawski, 1994). Market transactions, previously only tolerated, were now encouraged to promote efficiency, independence, and ultimately financial performance.…”

Section: Reform and The Emergence Of Producer Marketsmentioning

confidence: 99%

“…The first decade of China's economic reform witnessed a visible shift from planning to the market for most state enterprises and rapid industry growth led by the state sectors. China's real output increased almost fivefold from 1980 to 1992, with the majority contributed by state-sector enterprises (Jefferson and Rawski, 1994). Many state enterprises adapted quickly to markets and simultaneously began improving their financial performance.…”

Section: Reform and The Emergence Of Producer Marketsmentioning

confidence: 99%

“…Specifically, we controlled for competition from nonstate firms using the ratio of nonstate firms to state firms in the province that may have deterred SOEs from entering markets (Jefferson and Rawski, 1994;Naughton, 1994). We also controlled for (logged) retained earnings, profits, and total assets because (1) reliance on markets might vary with expected returns from market-oriented behavior, and (2) financial security (profits) and size (assets) might encourage experimentation with market exchange.…”

Section: Independent Variablesmentioning

confidence: 99%

See 2 more Smart Citations

Financial Resources and Product Market Development: Strategic Choice and Institutional Processes During China's Transition

Keister

Jin

2004

Sociological Forum

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Section: Reform and The Emergence Of Producer Marketsmentioning

confidence: 99%

Section: Reform and The Emergence Of Producer Marketsmentioning

confidence: 99%

Section: Independent Variablesmentioning

confidence: 99%

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Financial Resources and Product Market Development: Strategic Choice and Institutional Processes During China's Transition

Keister

Jin

2004

Sociological Forum

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“…To reveal the mask of such miracle, many academic scholars try to interpret the logic be-hind the rapid development of China's economy. Initially, the interpretation is mainly based on the important happening of economic transition [2] [3] [4].…”

Section: Introductionmentioning

confidence: 99%

An Empirical Analysis of Fiscal Decentralization on Public Goods Spending

Li¹,

Zheng²

2017

TEL

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China has achieved a rapid economy growth for nearly forty years since the reform and opening-up policy in 1978, and the overall living standard of Chinese residents has also improved significantly. In reality, economic transition includes a series of processes, not only related to the market and business, but also involves with the government's change. The traditional theory of decentralization mainly argues it can make better for subordinate governments to ensure that the public goods they provided match with local residents' preferences and to promote the efficiency of local public services delivery. This paper essentially uses a year-county dual fixed effects model to test the impact of fiscal decentralization on the spending of public goods at county-level. Our analysis finds fiscal decentralization has a significant positive impact on the spending of residents' livelihood other than the investment in infrastructure. In particular, the county government prefers the projects closely related to public goods expenditure of local residents to the projects that have a larger spillover effect.

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“…There are some published studies which explored China's SOE reforms 26 which began from a very early stage (e.g. Byrd (1983), Kuan et al (1988), Dollar (1990), Groves et al (1994), Jefferson and Rawski (1994), Jefferson, Rawski and Zheng (1992), Woo et al (1993), Bai, Li and Wang (1997), Zheng, Liu and Bigsten (1998), Liu and Liu (1996), Kong, Marks and Wan (1999), Shiu (2002). These studies in the Chinese context where SOE reforms took place earlier than in Vietnam, can provide a benchmark and references for analysis of SOE productivity in Vietnam.…”

Section: Vietnamese Manufacturing Soesmentioning

confidence: 99%

Vietnam State-owned Enterprise (SOE) Reform: A productivity and efficiency perspective

Nguyen¹

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State-owned enterprise (SOE) reform has been one of the important pillars of the overall economic renovation of Vietnam since 1986. Vietnamese SOEs have been moving from a cumbersome commanddriven economic system to a market-driven system. This thesis measures changes in the productivity of Vietnamese manufacturing SOEs over a ten year period. The focus is on possible productivity The empirical results indicate that the average annual rate of TFP growth across the 24 sectors over the full sample was 5.1%. Beverage SOEs had the highest productivity growth rate at 13.98% per year. There was also a large variation in productivity and efficiency measures across different sectors.The refined petroleum products sector was found to be the most technically efficient (94.08 % on average). The lowest technical efficiency levels were found in the beverage (90.79%), leather and related products (90.41%), wearing apparel (90.49%) and transport equipment (91.26%). Average technical efficiency across firms in the sample reached a maximum in 2008 and then declined at an average rate of 0.56% per year from 2009 to 2011. Results for SOEs were similar to results for private firms. The empirical results show that changes in output-oriented scale-mix efficiency, and changes in environmental conditions, are the main drivers of productivity change in Vietnamese manufacturing SOEs whose ownership type was changed into private firms.Results of second-stage regression indicate that the higher productivity levels of the privatized SOEs are relative to longer post-privatization periods. This suggests that one of the best policy options to improve productivity of manufacturing SOEs is to privatize them within a short span of time. Additionally, sectoral productivity analysis in major manufacturing sectors indicates a link between productivity improvements and export-oriented sectors. These outcomes suggest the government should implement policies that promote privatization of these sectors.ii Declaration by authorThis thesis is composed of my original work, and contains no material previously published or written by another person except where due reference has been made in the text. I have clearly stated the contribution by others to jointly-authored works that I have included in my thesis.

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Enterprise Reform in Chinese Industry

Cited by 315 publications

References 21 publications

Financial Resources and Product Market Development: Strategic Choice and Institutional Processes During China's Transition

Financial Resources and Product Market Development: Strategic Choice and Institutional Processes During China's Transition

An Empirical Analysis of Fiscal Decentralization on Public Goods Spending

Vietnam State-owned Enterprise (SOE) Reform: A productivity and efficiency perspective

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