Resource Misallocation Among Listed Firms In China The Evolving Role Of State Owned Enterprises
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Resource Misallocation Among Listed Firms In China The Evolving Role Of State Owned Enterprises
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Author : Ms. Emilia M Jurzyk
language : en
Publisher: International Monetary Fund
Release Date : 2021-03-12
Resource Misallocation Among Listed Firms In China The Evolving Role Of State Owned Enterprises written by Ms. Emilia M Jurzyk and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-12 with Business & Economics categories.
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.
State Owned Enterprise Reform In China
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Author : Justin Yifu Lin
language : en
Publisher: Chinese University Press
Release Date : 2001
State Owned Enterprise Reform In China written by Justin Yifu Lin and has been published by Chinese University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
This work is a continuation of the authors' earlier publication, "The China Miracle: Development Strategy and Economic Reform". The authors review the historical evolution of the state-owned enterprises, analyze the current problems, and suggest the direction for future reforms.
Reforms Opportunities And Challenges For State Owned Enterprises
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Author : Edimon Ginting
language : en
Publisher:
Release Date : 2020-07-29
Reforms Opportunities And Challenges For State Owned Enterprises written by Edimon Ginting and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-07-29 with Business & Economics categories.
China S State Owned Enterprises
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Author : Hong Sheng
language : en
Publisher: World Scientific
Release Date : 2013
China S State Owned Enterprises written by Hong Sheng and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
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.
State Owned Enterprises In Emerging Europe The Good The Bad And The Ugly
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Author : Uwe Böwer
language : en
Publisher: International Monetary Fund
Release Date : 2017-10-30
State Owned Enterprises In Emerging Europe The Good The Bad And The Ugly written by Uwe Böwer and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-30 with Business & Economics categories.
State-owned enterprises (SOEs) play an important role in Emerging Europe’s economies, notably in the energy and transport sectors. Based on a new firm-level dataset, this paper reviews the SOE landscape, assesses SOE performance across countries and vis-à-vis private firms, and evaluates recent SOE governance reform experience in 11 Emerging European countries, as well as Sweden as a benchmark. Profitability and efficiency of resource allocation of SOEs lag those of private firms in most sectors, with substantial cross-country variation. Poor SOE performance raises three main risks: large and risky contingent liabilities could stretch public finances; sizeable state ownership of banks coupled with poor governance could threaten financial stability; and negative productivity spillovers could affect the economy at large. SOE governance frameworks are partly weak and should be strengthened along three lines: fleshing out a consistent ownership policy; giving teeth to financial oversight; and making SOE boards more professional.
People S Republic Of China
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2017-08-15
People S Republic Of China written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-15 with Business & Economics categories.
This Selected Issues paper examines the drivers and prospects for high levels of savings in China. China has one of the highest levels of national savings in the world, which is at the heart of its external and internal imbalances. High and rising household savings have mainly resulted from demographic changes as a result of the one-child policy and the breakdown of the social safety net during the transition from a planned to a market economy. Demographic changes will put downward pressure on national savings. Policy efforts to strengthen the social safety net and reduce income inequality are also needed to reduce savings further and faster and to boost consumption.
Markets Over Mao
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Author : Nicholas R. Lardy
language : en
Publisher: Peterson Institute for International Economics
Release Date : 2014-09-10
Markets Over Mao written by Nicholas R. Lardy and has been published by Peterson Institute for International Economics this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-10 with Business & Economics categories.
China's transition to a market economy has propelled its remarkable economic growth since the late 1970s. In this book, Nicholas R. Lardy, one of the world's foremost experts on the Chinese economy, traces the increasing role of market forces and refutes the widely advanced argument that Chinese economic progress rests on the government's control of the economy's "commanding heights." In another challenge to conventional wisdom, Lardy finds little evidence that the decade of the leadership of former President Hu Jintao and Premier Wen Jiabao (2003–13) dramatically increased the role and importance of state-owned firms, as many people argue. This book offers powerfully persuasive evidence that the major sources of China's growth in the future will be similarly market rather than state-driven, with private firms providing the major source of economic growth, the sole source of job creation, and the major contributor to China's still growing role as a global trader. Lardy does, however, call on China to deregulate and increase competition in those portions of the economy where state firms remain protected, especially in energy and finance.
Governance And State Owned Enterprises How Costly Is Corruption
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Author : Ms.Anja Baum
language : en
Publisher: International Monetary Fund
Release Date : 2019-11-22
Governance And State Owned Enterprises How Costly Is Corruption written by Ms.Anja Baum and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-11-22 with Social Science categories.
State-owned enterprises (SOEs) are present in key sectors of the economies around the world. While they can provide an important public service, there is widespread concern that their activities are negatively affected by corruption. However, there is limited cross-country analysis on the costs of corruption for SOEs. We present new evidence on how corruption affects the performance of SOEs using firm level data across a large number of countries. One striking result is that SOEs perform as well as private firms in core sectors when corruption is low. Taking advantage of a novel database reforms, we also show that SOE governance reforms can generate significant performance gains.
State Owned Enterprises In Middle East North Africa And Central Asia Size Costs And Challenges
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Author : Mr. Ernesto Ramirez Rigo
language : en
Publisher: International Monetary Fund
Release Date : 2021-09-20
State Owned Enterprises In Middle East North Africa And Central Asia Size Costs And Challenges written by Mr. Ernesto Ramirez Rigo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-20 with Business & Economics categories.
Prior to the COVID-19 shock, the key challenge facing policymakers in the Middle East, North Africa, and Central Asia region was how to generate strong, sustainable, job-rich, inclusive growth. Post-COVID-19, this challenge has only grown given the additional reduction in fiscal space due to the crisis and the increased need to support the recovery. The sizable state-owned enterprise (SOE) footprint in the region, together with its cost to the government, call for revisiting the SOE sector to help open fiscal space and look for growth opportunities.
People S Republic Of China
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-02-03
People S Republic Of China written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-03 with Business & Economics categories.
Following an impressive recovery from the initial impact of the pandemic, China’s growth has slowed significantly in 2022. It remains under pressure as more transmissible variants have led to recurring outbreaks that have dampened mobility, the real estate crisis remains unresolved, and global demand has slowed. Macroeconomic policies have been eased appropriately, but their effectiveness has been diminished by a focus on enterprises and increasingly less effective traditional infrastructure investment rather than support to households. The pandemic and its impacts have also been a setback to economic rebalancing toward private consumption and to reducing greenhouse gas emissions. A slowdown in growth-enhancing reforms against the backdrop of increasing geoeconomic fragmentation pressures stand in the way of a much-needed lift to productivity growth, weighing on China’s medium-term growth potential.