Productivity Growth and Firm Ownership: An Analytical and Empirical Investigation.
The authors focus on the effect of state versus private ownership on the rates of firm-specific productivity growth and cost decline by developing a model of endogenous, firm-specific productivity growth and testing its implications against panel data on twenty-three international airlines of varying levels of state ownership over the period 1973-83. Their model and empirical results show that state ownership can lower the long-run annual rate of productivity growth or cost decline but not necessarily their levels in the short run. The analysis offers new insights concerning the recent trend toward privatizing state-owned enterprises that has been observed in many countries. Copyright 1994 by University of Chicago Press.
Year of publication: |
1994
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Authors: | Ehrlich, Isaac ; Gallais-Hamonno, Georges ; Liu, Zhiqiang ; Lutter, Randall |
Published in: |
Journal of Political Economy. - University of Chicago Press. - Vol. 102.1994, 5, p. 1006-38
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Publisher: |
University of Chicago Press |
Saved in:
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