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State Led Privatization In China
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Book Synopsis State-Led Privatization in China by : Jin Zeng
Download or read book State-Led Privatization in China written by Jin Zeng and published by Routledge. This book was released on 2013-10-01 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large-scale privatization did not emerge spontaneously in China in the late 1990s. Rather, the Chinese state led and carefully “planned” ownership transformation with timetables and measurable privatization quotas, not for the purpose of extracting the state from the economy, but in order to strengthen the rule of the Party. While it is widely believed that authoritarian regimes are better suited than democracies to carry out economic reform, this book provides a more nuanced understanding of reform in China, demonstrating that the Chinese state’s capacity to impose unpopular reform is contingent on its control over local state agents and its adaptability to societal demands. Building on rich fieldwork data gathered in three Chinese cities (Shenyang, Shanghai, and Xiamen), this book offers the first comparative study of China’s privatization processes at the local level. Instead of focusing solely on political elites, Jin Zeng adopts a multi-level interaction approach to examine how the complex interplay of the central leadership, grassroots officials, and state-owned enterprise managers and workers shaped the contour of privatization in China.The book advances three central arguments. First, local economic structure and cadre evaluation system mediated local officials’ incentives to initiate privatization. Second, local officials relied on mobilization campaigns and various appeasement measures to implement privatization. Finally, the dynamics of privatization were fundamentally driven by the central government’s reactions to social opposition and by the subsequent responses of local officials to the changed political-regulatory environment. As a detailed analysis of the dual transformation of the property regime and state–society relations in China, this book will be invaluable to students and scholars of Chinese politics, economic reform, as well as those interested in comparative political economy and economic development more broadly.
Book Synopsis Under New Ownership by : Shahid Yusuf
Download or read book Under New Ownership written by Shahid Yusuf and published by World Bank Publications. This book was released on 2006 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Exit the Dragon? written by Stephen Green and published by Wiley-Blackwell. This book was released on 2005-04-08 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work evaluates China's privatization experience, drawing on the research of ten scholars from around the world. It investigates the factors determining the decision by government officials to sell or retain their firms, discusses how credible the government's ambition is to create world-class, state-owned conglomerates and much more.
Book Synopsis Dancing with the Devil by : Yi-min Lin
Download or read book Dancing with the Devil written by Yi-min Lin and published by Oxford University Press. This book was released on 2017-05-01 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: From 1978 through the turn of the century, China was transformed from a state-owned economy into a predominantly private economy. This fundamental change took place under the Chinese Communist Party (CCP), which has been ideologically and politically predisposed to suppress private ownership. In Dancing with the Devil, Yi-min Lin explains how and why such a paradoxical reality came about. He shows that private ownership became a necessary evil for the CCP because the public sector was increasingly unable to address two essential concerns for regime survival: employment and revenue. Focusing on political actors as major change agents, Lin examines how their self-interested behavior led to the decline of public ownership in the context of China's evolving demographics and fiscal system. The constraints and incentives associated with these factors help explain CCP leaders' initial decision to allow limited private economic activities at the outset of reform. They also shed light on the ballooning opportunism among lower officials, which undermined the vitality of public enterprises. Furthermore, they hold a key to understanding the timing of the massive privatization in the late 1990s, as well as its tempo and spread thereafter. Dancing with the Devil illustrates how the driving forces developed and played out in these intertwined episodes of the story. In so doing, it offers new insights into the mechanisms of China's economic transformation and enriches theories of institutional change.
Book Synopsis State Capitalism, Institutional Adaptation, and the Chinese Miracle by : Barry Naughton
Download or read book State Capitalism, Institutional Adaptation, and the Chinese Miracle written by Barry Naughton and published by Cambridge University Press. This book was released on 2015-06-09 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores how Chinese institutions have adapted to the new challenges of 'state capitalism'.
Book Synopsis Shareholding System Reform in China by : Shuyun Ma
Download or read book Shareholding System Reform in China written by Shuyun Ma and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: This insightful book demonstrates how China has emerged as one of the world's largest privatizing countries within a decade. Since the 1980s, there has been a global wave of transfer of state assets to private hands. China is a relatively late participant in this worldwide trend, yet, in the last decade it has emerged as one of the largest privatizing countries. Shu-Yun Ma argues that China s privatization is not based on any grand blueprint; rather, it is privatization by groping for stones to cross the river , a well-known metaphor often attributed to Deng Xiaoping, meaning that the reform simply proceeds on a trial-and-error basis without being guided by any theory. With original case studies, including one on China s first industrial shareholding enterprise, this informative book, will be of great interest to the academic community, China observers and policymakers, as well as financial analysts.
Book Synopsis Under New Ownership by : Shahid Yusuf
Download or read book Under New Ownership written by Shahid Yusuf and published by . This book was released on 2006 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How China Became Capitalist by : R. Coase
Download or read book How China Became Capitalist written by R. Coase and published by Springer. This book was released on 2016-04-30 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.
Book Synopsis Privatizing China by : Carl E. Walter
Download or read book Privatizing China written by Carl E. Walter and published by John Wiley & Sons. This book was released on 2003-06-25 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much is written about the various efforts aimed at reforming China’s state-owned enterprises. But in all this literature the Chinese government’s determined effort to use the equity capital markets as a tool of enterprise reform has been virtually ignored. The fact is that during the past decade this has been, and will continue to be, the principal thrust with regard to the reform of state-owned enterprises. On-again, off-again, noises about bankruptcy, M&A solutions and asset management companies are only sideshows in the process. Carl E. Walter is a Managing Director of JP Morgan and Chief Operating Officer of its China businesses. Prior to joining JP Morgan in 2001, Mr. Walter was a Managing Director and member of the Management Committee of China International Capital Corporation. He was Chief Representative in Beijing for Credit Suisse First Boston from 1993-8. During his decade in China, Mr. Walter has participated in a number of pathbreaking international and domestic share listings and debt issues for Chinese companies, banks and the Ministry of Finance. He holds a PhD from Stanford University and a graduate certificate from Beijing University. Fraser Howie is an independent financial analyst located in Beijing. Over the past ten years he has worked in Hong Kong trading equity derivatives at Bankers Trust and Morgan Stanley. After moving to China in 1998 he worked in the Sales and Trading Department of China International Capital Corporation then with a domestic retail financial services company and most recently with China M&A Management Company.
Book Synopsis State-Led Privatization in China by : Jin Zeng
Download or read book State-Led Privatization in China written by Jin Zeng and published by Routledge. This book was released on 2013-10-01 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large-scale privatization did not emerge spontaneously in China in the late 1990s. Rather, the Chinese state led and carefully “planned” ownership transformation with timetables and measurable privatization quotas, not for the purpose of extracting the state from the economy, but in order to strengthen the rule of the Party. While it is widely believed that authoritarian regimes are better suited than democracies to carry out economic reform, this book provides a more nuanced understanding of reform in China, demonstrating that the Chinese state’s capacity to impose unpopular reform is contingent on its control over local state agents and its adaptability to societal demands. Building on rich fieldwork data gathered in three Chinese cities (Shenyang, Shanghai, and Xiamen), this book offers the first comparative study of China’s privatization processes at the local level. Instead of focusing solely on political elites, Jin Zeng adopts a multi-level interaction approach to examine how the complex interplay of the central leadership, grassroots officials, and state-owned enterprise managers and workers shaped the contour of privatization in China.The book advances three central arguments. First, local economic structure and cadre evaluation system mediated local officials’ incentives to initiate privatization. Second, local officials relied on mobilization campaigns and various appeasement measures to implement privatization. Finally, the dynamics of privatization were fundamentally driven by the central government’s reactions to social opposition and by the subsequent responses of local officials to the changed political-regulatory environment. As a detailed analysis of the dual transformation of the property regime and state–society relations in China, this book will be invaluable to students and scholars of Chinese politics, economic reform, as well as those interested in comparative political economy and economic development more broadly.
Book Synopsis The Reformability of China's State Sector by : Guanzhong James Wen
Download or read book The Reformability of China's State Sector written by Guanzhong James Wen and published by World Scientific. This book was released on 1997 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: China has achieved alarming success in accelerating the economic growth rate since it started economic reform about 16 years ago.However, its state sector is still running severe deficits. Even though its productivity might be improved since the reform started, its financial situation, nevertheless, has been worsening mainly as a result of increased competition from the rapidly expanding non-state sector. Therefore, the reform of this sector has become an urgent problem.All the papers collected in this book are closely related to the various issues that the reform of the state sector has to solve.Among the contributors are Professor Merton H Miller, a Nobel laureate and expert on firm finance and governauce, Mr Ji Lin, the vice president of the Chinese Academy of Social Sciences, Dr Justin Y Lin, the director of Center of China's Economic Research at Beijing University, Professor Gang Fan, the well-known Chinese Economist and vice director of the Institute of Economic Research at the Chinese Academy of Social Sciences, Professor Guoqiang Tian, an expert on mechanism design at Texas A & M University, and many other researchers and professors from China and the North America's research institutes and universities. Therefore, this book will be extremely useful and relevant to those economists as well as government decision-makers working in the field of the transitional economy.
Book Synopsis China's Housing Reform and Outcomes by : Joyce Yanyun Man
Download or read book China's Housing Reform and Outcomes written by Joyce Yanyun Man and published by Lincoln Inst of Land Policy. This book was released on 2011 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This in-depth volume explains China's residential construction boom and reviews how some established trends are likely to challenge its housing market in coming years. It draws on household surveys and public data in China and provides important lessons about housing policy for China and other countries.
Book Synopsis An Analysis of State-Owned Enterprises and State Capitalism in China by : Andrew Szamosszegi
Download or read book An Analysis of State-Owned Enterprises and State Capitalism in China written by Andrew Szamosszegi and published by Createspace Independent Publishing Platform. This book was released on 2011-10-26 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's breathtaking economic growth, has often led observers to assume that the country's economic system has been transformed into a capitalist economy dominated by private enterprise. Although China's reliance on private enterprise and market-based incentives has been growing, and the CCP's treatment of private enterprises and entrepreneurs has been changing, it would be a mistake to minimize the current role of the State and the CCP in shaping economic outcomes in China and beyond. The Chinese government and state-owned enterprises (SOEs) remain potent economic forces. Indeed, some of China's SOEs are among the largest firms in China and the world. They are major investors in foreign countries. They have been involved in some of the largest initial public offerings in recent years and remain the controlling owners of many major firms listed on Chinese and foreign stock exchanges.
Book Synopsis Government and Market in China by : Jian Zhang
Download or read book Government and Market in China written by Jian Zhang and published by Nova Biomedical Books. This book was released on 2004 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the key role played by local governments in China's market-oriented economic reform process since 1978. In particular, it addresses the much debated questions of why Communist Party officials at the local level embraced market reform despite its potentially detrimental effects on their power, and how the choices they made have shaped institutional changes and the pattern of development in the economies under their jurisdiction. In contrast to most recent studies of local governments in China, which have tended to explain local state activism in terms of the economic interests of local government officials, this book highlights the role that political interests have played in shaping economic behaviour. The contention is that the active involvement of local governments in the economy has been motivated not only by a desire to seek economic benefits, but also, and more importantly, by political considerations. The political perspective emphasised in this book leads to a reassessment of the nature and effect of the role of local government in the economic growth and institutional changes in China's transitional economy. Tracing the behaviour of local government to its political origin, the book not only explains more fully the motivational sources of economic activism at the local level, but also demonstrates the contradictory ways in which local governments intervene in the economy, the internal weakness of the local state-led development, and how problems caused by politically-motivated economic intervention catalysed the privatisation of the local government-run economic sector during mid-1990s.
Book Synopsis The Road to Privatization of Higher Education in China by : Li Wang
Download or read book The Road to Privatization of Higher Education in China written by Li Wang and published by Springer Science & Business Media. This book was released on 2013-11-29 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book makes both empirical and conceptual contributions to the debate on privatization of higher education in China. Empirically, it aims to fill a gap in our knowledge of privatization of higher education in North China. To this end, Beijing was chosen as a case for analysis, and nine local higher educational institutions were visited. The case study strategy is also complemented by an extensive review of national policies to reveal problems beyond the specific case of Beijing and of national concern. The effects of the cultural and socioeconomic background and the unique state-party controlling system on higher education management are stressed. Conceptually, most existing studies on privatization of higher education in China adopt a policy analysis approach, while research on privatization of other public sectors or in other countries is frequently guided by economic theories. This book thus seeks to combine both social policy and econometric approaches to provide a systematic and detailed investigation of the privatization process in the context of higher education. It also improves examines the applicability of western theories in the Chinese context.
Book Synopsis The Coming Collapse of China by : Gordon G. Chang
Download or read book The Coming Collapse of China written by Gordon G. Chang and published by Random House. This book was released on 2001-09-15 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: China is hot. The world sees a glorious future for this sleeping giant, three times larger than the United States, predicting it will blossom into the world's biggest economy by 2010. According to Chang, however, a Chinese-American lawyer and China specialist, the People's Republic is a paper dragon. Peer beneath the veneer of modernization since Mao's death, and the symptoms of decay are everywhere: Deflation grips the economy, state-owned enterprises are failing, banks are hopelessly insolvent, foreign investment continues to decline, and Communist party corruption eats away at the fabric of society. Beijing's cautious reforms have left the country stuck midway between communism and capitalism, Chang writes. With its impending World Trade Organization membership, for the first time China will be forced to open itself to foreign competition, which will shake the country to its foundations. Economic failure will be followed by government collapse. Covering subjects from party politics to the Falun Gong to the government's insupportable position on Taiwan, Chang presents a thorough and very chilling overview of China's present and not-so-distant future.
Book Synopsis Private Enterprise in China by : Ross Garnaut
Download or read book Private Enterprise in China written by Ross Garnaut and published by . This book was released on 2012 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The book discusses the following matters relating to the development of private enterprise in China: market competition; finance; taxation; internal governance; labour and management skills; technological challenges; laws and government administrative regulations."--Introduction.
