We estimate the effects of privatization on zombie versus healthy state-owned enterprises (SOEs) in China, extending … privatization of underperforming, zombie-like entities can lead to substantial economic improvements and greater efficiency …

Starting in the late 1990s, China undertook a dramatic transformation of the large number of firms under state control …

wage incentive, not privatization, have been emphasized. The convergence school holds that China's successes are the result …Broadly speaking, two schools of thought have emerged to interpret China's rapid growth since 1978:the experimentalist … school and the convergence school. The experimentalist school attributes China's successes to the evolutionary, experimental …

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 … there are clear improvements in performance post-privatization. The tiger can change its stripes; however, the government …

We document the market response to an unexpected announcement of proposed sales of government-owned shares in China. In … contrast to the "privatization premium" found in earlier work, we find a negative effect of government ownership on returns at … that personal ties can substitute for the benefits of government ownership. The "privatization discount" is higher for …

in China in the years around the privatizations of state-owned enterprises (SOEs). Innovation increases after SOE …

We study the impact of state-owned enterprises (SOEs) on the quality of entrepreneurship in China. Using long series of …

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

, financial reforms that ended decades of financial repression, and a massive privatization program. We investigate the role …