China's economic performance of the past two decades presents a puzzle for the economics of transition and development: Enormous private business incentives were unleashed that have fueled rapid economic growth despite the fact that China has had very weak "conventional institutions" (such as...

China's economic performance of the past two decades presents a puzzle for the economics of transition and development: Enormous private business incentives were unleashed that have fueled rapid economic growth despite the fact that China has had very weak "conventional institutions" (such as...

To better understand the relationship between different types of firm ownership and management turnover, this study classifies ownership along two dimensions: the type of owner and the concentration of ownership. Within this framework, a unique data set is used to study the impact of management...

To more thoroughly study the effect of ownership on management turnover, firms are classified by ownership simultaneously along two dimensions: types of owners and concentration of ownership. Under this new framework, a unique data set is used to study the sensitivity of management turnover to a...

Based on the survey of the literature on China's recent reform experience, this paper proposes to see China as a four sector economy under a semifederalist government. The four sectors are the agriculture, the state industry, the semistate rural industry and the private industry. The four...

We use a unique data set to study the implications of introducing managerial incentives and, in addition to incentives, better defined ownership for a firm's financial performance. The data set traces the ten-year history of 80 Chinese rural enterprises, known as township and village...

Uncertainty in labor productivity (ULP) is affected by many factors, such as worker-employer matching, technology, and macroeconomic conditions. Not surprisingly, ULP varies across firms, industries, and economies. How do variations in ULP affect specific human capital (SHC) investment, wage,...

Some critics of proposed legislative labor policy changes contend that laws favoring labor would adversely affect business investment. Research on labor policy, however, often assumes that investment is fixed. The authors present a sequential bargaining model in which labor policies that...

The long literature of former socialist systems concludes that any effort to reform the economy without drastic political change is believed to be doomed to fail because tight political control and nonmarket coordination mechanisms are intertwined with each other. Indeed, the history of economic...

The effects of laws banning the use of strike replacements has been theoretically modeled using private information bargaining models. These models predict that strike replacement restrictions will increase wages, but assume that the capital stock is constant. This article develops a sequential...