Guo, Kai; Yao, Yang - In: The Economics of Transition 13 (2005) 2, pp. 211-238
We test five hypotheses regarding the causes of privatization in China by using firm-level panel data collected in 11 cities in the period 1995-2001. We have found that privatization is positively linked with hardened firm budgets and the extent of market liberalization, but is constrained by...