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Can a Tiger Change its Stripes? Reform of Chinese State-Owned Enterprises in the Penumbra of the State

Harrison, Ann E. - 2019

The majority of state-owned enterprises (SOEs) in China were privatized through ownership reforms over the last two decades. Using a comprehensive dataset of all medium and large enterprises in China between 1998 and 2013, we show that privatized SOEs continue to benefit from government support...

Persistent link: https://www.econbiz.de/10012894408

Do Financial Frictions Explain Chinese Firms’ Saving and Misallocation?

Bai, Yan - 2018

We use firm-level data to identify financial frictions in China and explore the extent to which they can explain firms' saving and capital misallocation. We first document the features of the data in terms of firm dynamics and debt financing. State-owned firms have higher leverage and pay much...

Persistent link: https://www.econbiz.de/10012923717

Simulating Russia's and Other Large Economies’ Challenging and Interconnected Transitions

Benzell, Seth - 2015

This paper develops a large-scale, dynamic life-cycle model to simulate Russia's demographic and fiscal transition … under favorable and unfavorable fossil-fuel price regimes. The model includes Russia, the U.S., China, India, the EU, and … Japan+ (Japan plus Korea). The model predicts dramatic increases in tax rates in the U.S., EU, India, and Russia. Indeed …

Persistent link: https://www.econbiz.de/10013021019

Dynamic Labor Demand in China : Public and Private Objectives

Cooper, Russell - 2010

This paper studies dynamic labor demand by private and public manufacturing plants in China. It contributes along two dimensions. First, it uncovers the objectives of public enterprises and compares them to private enterprises. Second, it estimates adjustment costs of these plants and thus their...

Persistent link: https://www.econbiz.de/10013136558

The Chinese Corporate Savings Puzzle : a Firm-Level Cross-Country Perspective

Bayoumi, Tamim - 2010

China's high corporate savings rate is commonly claimed to be a key driver for the country's large current account surplus. The mainstream explanation for high corporate savings is a combination of windfall profits in state-owned firms, especially in resource sectors, and mis-governance of...

Persistent link: https://www.econbiz.de/10013137314

Capitalizing China

Fan, Joseph P. H. - 2011

Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement...

Persistent link: https://www.econbiz.de/10013117212

Ownership Characteristics, Real Exchange Rate Movements and Labor Market Adjustment in China

Mao, Risheng - 2011

This paper uses a firm level multi-industry data set covering 456 Chinese manufacturing sectors to assess the implications of Renminbi (RMB) real exchange rate appreciation for adjustments in employment and wage rates. We stress differences in both industry and firm characteristics within...

Persistent link: https://www.econbiz.de/10013118843

Is There Evidence of a Real Estate Collateral Channel Effect on Listed Firm Investment in China?

Wu, Jing - 2013

Previous research on the United States and Japan finds economically large impacts of changing real estate collateral value on firm investment. Working with unique data on land values in 35 major Chinese markets and a panel of firms outside the real estate industry, we estimate investment...

Persistent link: https://www.econbiz.de/10013087438

Comparing the Investment Behavior of Public and Private Firms

Asker, John - 2014

We evaluate differences in investment behavior between stock market listed and privately held firms in the U.S. using a rich new data source on private firms. Listed firms invest less and are less responsive to changes in investment opportunities compared to observably similar, matched private...

Persistent link: https://www.econbiz.de/10013067390

Model Structure and the Combined Welfare and Trade Effects of China's Trade Related Policies

Dong, Yan - 2010

Because China's economic structure is different from that in OECD countries, using conventional neo-classical competitive trade models to analyze the welfare and trade impacts of trade related policy change can be misleading. In particular, both the exchange rate regime and output and pricing...

Persistent link: https://www.econbiz.de/10013150911

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