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Resource Misallocation Among Listed Firms in China : The Evolving Role of State-Owned Enterprises
Jurzik, Emilia; Ruane, Cian - 2021
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...
Persistent link: https://www.econbiz.de/10013226435
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How Do State-Owned Enterprises Adjust During Downturns : Evidence from Iranian Manufacturing Firms
Ebadi, Ebad; Toffano, Priscilla - 2022
This paper investigates the role that state-owned enterprises (SOEs) played during periods of economic sanctions against Iran. Using difference-in-difference techniques and exploiting survey data on the manufacturing sector, our analysis shows that the sanctions reduced revenues, profits, and...
Persistent link: https://www.econbiz.de/10014238522
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The Financial Performance and Macrofinancial Implications of Large State-Owned Enterprises in Sub-Saharan Africa
Wezel, Torsten; Carvalho, Naly - 2022
Using a newly-compiled dataset of state-owned enterprises in Sub-Saharan Africa, we present aggregate information about profitability, liquidity and leverage. We find that 40 percent of the close to 300 surveyed SOEs are unprofitable, while larger firms also tend to be illiquid and...
Persistent link: https://www.econbiz.de/10013294195
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The Nexus between Public Enterprise Governance, Financial Performance, and Macroeconomic Vulnerabilities : An Application to Moldova
Hegazy, Amgad; Navarro, Arturo - 2022
vulnerabilities from such companies, clarifying the role of the state, improving the management of state assets, and ensuring a level …
Persistent link: https://www.econbiz.de/10013294997
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China's Declining Business Dynamism
Cerdeiro, Diego; Ruane, Cian - 2022
After impressive growth in the 2000s, China's productivity has more recently stagnated. We use firm-level data to analyze productivity and firm dynamism trends from 2003 to 2018. We document six facts that together show a decline in China’s business dynamism. We show that (i) the revenue share...
Persistent link: https://www.econbiz.de/10013295127
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India's State-Owned Enterprises
Agarwal, Ruchir; Arbatli, Elif C.; Fisher, Lesley; Han, … - 2022
India’s recently announced privatization strategy can facilitate a change in the composition of the public sector balance sheet toward high-return public sector investments in infrastructure and human capital where there is a clear role for government, leaving commercially viable companies for...
Persistent link: https://www.econbiz.de/10013492000
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Managing Fiscal Risks from National Airlines in Pacific Island Countries
Balasundharam, Vybhavi; Hunter, Leni; Lavea, Iulai; … - 2022
of the current state of Public Financial Management (PFM) practices in PICs and detail the best practices. This exercise … would illustrate the areas in which PICs have scope to improve their risk management with regard to national airlines. We … then discuss the use of diagnostic tools and capacity development to enhance monitoring and risk management. Greater …
Persistent link: https://www.econbiz.de/10013305594
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The More the Merrier? A Machine Learning Algorithm for Optimal Pooling of Panel Data
Bolhuis, Marijn - 2020
We leverage insights from machine learning to optimize the trade off between bias and variance when estimating economic models using pooled datasets. Specifically, we develop a simple algorithm that estimates the similarity of economic structures across countries and selects the optimal pool of...
Persistent link: https://www.econbiz.de/10012836102
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On the Capacity to Absorb Public Investment : How Much is Too Much?
Gurara, Daniel - 2020
While expanding public investment can help filling infrastructure bottlenecks, scaling up too much and too fast often leads to inefficient outcomes. This paper rationalizes this outcome looking at the association between cost inflation and public investment in a large sample of road construction...
Persistent link: https://www.econbiz.de/10012836531
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Monetary Policy Transmission in Emerging Markets and Developing Economies
Brandao-Marques, Luis - 2020
Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often...
Persistent link: https://www.econbiz.de/10012839314