. Using a rich set of panel data about changes in China`s state-owned enterprises, Xu examines the static and dynamic effects … performance contracts - conventionally viewed as the most important reforms for China's state enterprises - did not improve …

that it does not vary with government policies. Our findings highlight the decentralized nature of China's reforms … Southern China in 1998. By employing several econometric specifications, we find that the probability of a firm being … privatized increases with the degree of product market competition and the hardness of the government's budget constraint, but …