and widely taking place in China, it is much less known whether and to what extent privatization has improved resource … allocation and productivity. As a first step toward the fuller understanding of the effect of privatization, this study …While it is by now well known that the privatization of township- and village-run enterprises (TVREs) has been rapidly …

Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist … introduces the chapters comprising the NBER volume Capitalizing China (Fan and Morck, eds. 2012), which examine China's high … consider policy alternatives the CCP might consider if its goal is China's elevation into the ranks of high income countries …

the market. In particular, we look at whether speed of privatization, legal institutions or initial conditions are more … endogeneity, confused issues of speed and level of privatization, and did not face up to the problems of multicollinearity. Our … results suggest that, contrary to the earlier literature, the speed of privatization is negatively associated with growth, but …

below emerging countries such as Brazil, China and India. In contrast, the central European transition countries such as …

that the only industries in which listed companies in China display strong performance are public utilities, transportation …

forward. In this paper I illustrate this idea with a study of the People's Republic of China. Under the plan, prices were …

Starting in the late 1990s, China undertook a dramatic transformation of the large number of firms under state control … productivity; (ii) the labor productivity of state-owned firms converged to that of private firms; (iii) the capital productivity … of state-owned firms remained significantly lower than that of private firms; and (iv) total factor productivity (TFP …

We estimate the effects of privatization on zombie versus healthy state-owned enterprises (SOEs) in China, extending … productivity and TFP, reduces bank and government subsidies, alleviates leverage and administrative expenses, improves liquidity … privatization of underperforming, zombie-like entities can lead to substantial economic improvements and greater efficiency …