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The Current Wave Of State Enterprise Reform In China
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Book Synopsis Resource Misallocation Among Listed Firms in China: The Evolving Role of State-Owned Enterprises by : Ms. Emilia M Jurzyk
Download or read book Resource Misallocation Among Listed Firms in China: The Evolving Role of State-Owned Enterprises written by Ms. Emilia M Jurzyk and published by International Monetary Fund. This book was released on 2021-03-12 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: We document that publicly listed Chinese state-owned enterprises (SOEs) are less productive and profitable than publicly listed firms in which the state has no ownership stake. In particular, Chinese listed SOEs are more capital intensive and have a lower average product of capital than non-SOEs. These productivity differences increased between 2002 and 2009, and remain sizeable in 2019. Using a heterogeneous firm model of resource misallocation, we find that there are large potential productivity gains from reforms which could equalize the marginal products of listed SOEs and listed non-SOEs.
Book Synopsis Reforms, Opportunities, and Challenges for State-Owned Enterprises by : Edimon Ginting
Download or read book Reforms, Opportunities, and Challenges for State-Owned Enterprises written by Edimon Ginting and published by Asian Development Bank. This book was released on 2020-07-01 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: State-owned enterprises (SOEs) play significant roles in developing economies in Asia and SOE performance remains crucial for economy-wide productivity and growth. This book looks at SOEs in Azerbaijan, Indonesia, Kazakhstan, the People's Republic of China, and Viet Nam, which together present a panoramic view of SOEs in the region. It also presents insights from the Republic of Korea on the evolving role of the public sector in various stages of development. It explores corporate governance challenges and how governments could reform SOEs to make them efficient drivers of the long-term productivity-induced growth essential to Asia's transition to high-income status.
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 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 How Reform Worked in China by : Yingyi Qian
Download or read book How Reform Worked in China written by Yingyi Qian and published by MIT Press. This book was released on 2017-11-24 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: A noted Chinese economist examines the mechanisms behind China's economic reforms, arguing that universal principles and specific implementations are equally important. As China has transformed itself from a centrally planned economy to a market economy, economists have tried to understand and interpret the success of Chinese reform. As the Chinese economist Yingyi Qian explains, there are two schools of thought on Chinese reform: the “School of Universal Principles,” which ascribes China's successful reform to the workings of the free market, and the “School of Chinese Characteristics,” which holds that China's reform is successful precisely because it did not follow the economics of the market but instead relied on the government. In this book, Qian offers a third perspective, taking certain elements from each school of thought but emphasizing not why reform worked but how it did. Economics is a science, but economic reform is applied science and engineering. To a practitioner, it is more useful to find a feasible reform path than the theoretically best way. The key to understanding how reform has worked in China, Qian argues, is to consider the way reform designs respond to initial historical conditions and contemporary constraints. Qian examines the role of “transitional institutions”—not “best practice institutions” but “incentive-compatible institutions”—in Chinese reform; the dual-track approach to market liberalization; the ownership of firms, viewed both theoretically and empirically; government decentralization, offering and testing hypotheses about its link to local economic development; and the specific historical conditions of China's regional-based central planning.
Book Synopsis China's State-owned Enterprises by : Hong Sheng
Download or read book China's State-owned Enterprises written by Hong Sheng and published by World Scientific. This book was released on 2013 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nature, the Performance, and the Reform of State-owned Enterprises provides a detailed description of state-owned enterprises (SOEs) in China with respect to both efficiency and income distribution. It shows that state ownership in the form of SOEs does not use resources efficiently and has a poor record in income distribution. Moreover, SOEs are found to enjoy unfair advantages in their competition with other firms. To illustrate the point, the book presents data revealing how favored policies, monopolistic powers, and subsidies benefit SOEs. These advantages are worth several trillion yuans a year. It is a sad irony that such wealth of the people is used to beef up the revenues of the SOEs, making their accounts look much better than they should be.This book, with its rich empirical data and information, is an authoritative reference for researchers interested in SOEs. It is also a good read for students of social sciences and the public to learn more about SOEs.
Book Synopsis Who Controls East Asian Corporations? by : Stijn Claessens
Download or read book Who Controls East Asian Corporations? written by Stijn Claessens and published by World Bank Publications. This book was released on 1999 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How China Escaped Shock Therapy by : Isabella M. Weber
Download or read book How China Escaped Shock Therapy written by Isabella M. Weber and published by Routledge. This book was released on 2021-05-26 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country’s rise without leading to its wholesale assimilation to global neoliberalism. This book uncovers the fierce contest about economic reforms that shaped China’s path. In the first post-Mao decade, China’s reformers were sharply divided. They agreed that China had to reform its economic system and move toward more marketization—but struggled over how to go about it. Should China destroy the core of the socialist system through shock therapy, or should it use the institutions of the planned economy as market creators? With hindsight, the historical record proves the high stakes behind the question: China embarked on an economic expansion commonly described as unprecedented in scope and pace, whereas Russia’s economy collapsed under shock therapy. Based on extensive research, including interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization. Beyond shedding light on the crossroads of the 1980s, it reveals the intellectual foundations of state-market relations in reform-era China through a longue durée lens. Overall, the book delivers an original perspective on China’s economic model and its continuing contestations from within and from without.
Book Synopsis China's State Enterprise Reform by : John Hassard
Download or read book China's State Enterprise Reform written by John Hassard and published by Routledge. This book was released on 2007-06-11 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on extensive original research, this book provides a comprehensive overview of the current status of state enterprise reform in China. Chinese State Enterprise Reform considers the relationship between public ownership and public enterprises, and the historical evolution of China's economic reform programme since 1978, including assessments of the Contrast Responsiblity System, which operated from the early 1980s to the early 1990s, and the Group Company Experiments, which began in the 1990s. It discusses the relations between workers, managers, and the state in post-Dengist China, the implications of the reform programme for human resources management in state enterprises, the nature of labour representation, and organization under tate capitalism and the problems of surplus labour and reemployment.
Book Synopsis To Get Rich Is Glorious by : Jacques deLisle
Download or read book To Get Rich Is Glorious written by Jacques deLisle and published by Brookings Institution Press. This book was released on 2019-09-24 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: " In 1978, China launched economic reforms that have resulted in one of history’s most dramatic national transformations. The reforms removed bureaucratic obstacles to economic growth and tapped China’s immense reserves of labor and entrepreneurial talent to unleash unparalleled economic growth in the country. In the four decades since, China has become the world’s second-largest economy after the United States, and a leading force in international trade and investment. As the contributors to this volume show, China also faces daunting challenges in sustaining growth, continuing its economic ransformation, addressing the adverse consequences of economic success, and dealing with mounting suspicion from the United States and other trade and investment partners. China also confronts risks stemming from the project to expand its influence across the globe through infrastructure investments and other projects under the Belt and Road Initiative. At the same time, China’s current leader, Xi Jinping, appears determined to make his own lasting mark on the country and on China’s use of its economic clout to shape the world around it. "
Book Synopsis The Rise of China's Industrial Policy, 1978 To 2020 by : Barry Naughton
Download or read book The Rise of China's Industrial Policy, 1978 To 2020 written by Barry Naughton and published by . This book was released on 2021-04-15 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis China’s Global Energy Expansion by : Xiaohan Gong
Download or read book China’s Global Energy Expansion written by Xiaohan Gong and published by Bloomsbury Publishing. This book was released on 2024-10-03 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Should Chinese energy investments be excluded from the liberal economic system based on geopolitical assessments only? This book explores the potential regulatory control by the Chinese government over foreign energy investments to achieve their perceived strategic objectives. Host states in which Chinese energy companies make investments have increasingly opposed Chinese energy investments in their national security reviews, based on concerns that these investments have strategic objectives. The book analyses China's investment-related law, regulations, and energy policies to examine how overseas energy investment-making is governed. The book also explores the role of the Chinese government in energy investment promotion and protection. Uniquely, the examination of China's potential regulatory control provides an objective criterion, rather than geopolitical considerations, for host states to assess the nature of Chinese energy investments. The book helps readers to open the 'black box' of Chinese energy investments from a regulatory perspective. It is a useful resource for researchers as well as practising lawyers assisting their Chinese clients through national security reviews, or when trying to determine whether China's SOEs can bring cases before investor-state arbitration tribunals.
Book Synopsis Private Law in China and Taiwan by : Yun-chien Chang
Download or read book Private Law in China and Taiwan written by Yun-chien Chang and published by Cambridge University Press. This book was released on 2017 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comparing four key branches of private law in China and Taiwan, this collaborative and novel book demystifies the 'China puzzle'.
Book Synopsis Modernizing China by : W. Raphael Lam
Download or read book Modernizing China written by W. Raphael Lam and published by International Monetary Fund. This book was released on 2017-01-14 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: China is at a critical juncture in its economic transformation as it tries to rebalance what is generally seen as an exhausted growth model. A unifying theme across the reforms that will deliver this transformation is that it can no longer be achieved by raising the amount of physical investment and government direction of resource allocation. Instead China is building a new set of policy frameworks that will allow markets to function more effectively—not unfettered markets, but markets that work efficiently, in line with broad social and other policy goals, and in a sustainable way. Hence, China is now building a new soft infrastructure, that is, the institutional plumbing that underpins and guides the functioning of markets as the key organizing principle toward achieving sustained economic and social progress. Against this background, this volume provides policymakers, academics, and the public with valuable information about policies and institutions in China today. It also looks at the road ahead and key principles that can help China in navigating it. The book focuses on issues crucial in the country’s transformation, such as tax policy and administration, social security, state-owned enterprise reform, medium-term expenditure frameworks, the role of local government finances, capital account liberalization, and renminbi internationalization. As China moves toward a more price-based allocation of resources, strengthening monetary policy frameworks and financial sector regulation will be particularly important in channeling resources to the most productive sectors and minimizing the risks of financial sector stress. Also, upgrading statistical frameworks will be critical for macroeconomic policymaking and investors. Visit : http://www.elibrary.imf.org/page/modernizing-china
Download or read book China, Inc written by Ted C. Fishman and published by Simon and Schuster. This book was released on 2005 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: What will happen when China can make nearly everything the U.S. and Europe can make--at one-third the cost? Fishman delves into dangerous question that not everyone wants answered.
Book Synopsis China's State Owned Enterprise Reforms by : Leila Fernandez-Stembridge
Download or read book China's State Owned Enterprise Reforms written by Leila Fernandez-Stembridge and published by Routledge. This book was released on 2007-01-24 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much has been written on China's State-Owned Enterprises ( SOEs) reform following the restructuring impact on China's economic reform process in the last decade. However, as a major root of social and economic change, little has been discussed beyond a description of SOEs shortcomings and their overall impact on the economy. This book provides a more in-depth analysis of SOEs by assessing the transformation process of eleven specific industries, with reference to the state of competition, the influence of WTO membership and the challenges these industries face in the future. Importantly, the authors also provide a personal perspective alongside the industry analysis with eleven case studies of firms actually undergoing this restructuring process, including interviews with crucial agents of reform such as CEOs and GMs. The provision of both a macro and business perspective of SOEs reforms provides the reader with a complete and accurate insight into the economic, social and business reality of China today. China's State Owned Enterprises' Reforms will therefore be essential reading for those interested in the Chinese economy and Chinese business, as well as economists, foreign investors, MBA and EMBA students and scholars specializing in emerging or transitional economies.
Book Synopsis Resurging Asian Giants by : Klaus Gerhaeusser
Download or read book Resurging Asian Giants written by Klaus Gerhaeusser and published by Asian Development Bank. This book was released on 2010-07-01 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economies of the People's Republic of China and India have seen dramatic growth in recent years. As their respective successes continue to reshape the world's economic landscape, noted Chinese and Indian scholars have studied the two countries' development paths, in particular their rich and diverse experiences in such areas as education, information technology, local entrepreneurship, capital markets, macroeconomic management, foreign direct investment, and state-owned enterprise reforms. Drawing on these studies, ADB has produced a timely collection of lessons learned that serves as a valuable refresher on the challenges and opportunities ahead for developing economies, especially those in Asia and the Pacific.