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Productivity Effects of TVE Privatization: The Case Study of Garment and Metal-Casting Enterprises in the Greater Yangtze River Region

In: Governance, Regulation, and Privatization in the Asia-Pacific Region, NBER East Asia Seminar on Economics, Volume 12

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  • Tetsushi Sonobe
  • Keijiro Otsuka

Abstract

While it is by now well known that the privatization of township- and village-run enterprises (TVREs) has been rapidly 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 undertakes case studies of garment and casting enterprises in the Greater Yantgze River Region, where TVREs led miraculous economic growth in the 1980s. Our empirical results indicate that productivity was significantly enhanced by the recent privatization with time lag of a few years.

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This chapter was published in:

  • Takatoshi Ito & Anne O. Krueger, 2004. "Governance, Regulation, and Privatization in the Asia-Pacific Region, NBER East Asia Seminar on Economics, Volume 12," NBER Books, National Bureau of Economic Research, Inc, number ito_04-1, October.
    This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 10191.

    Handle: RePEc:nbr:nberch:10191

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    1. Weitzman Martin L. & Xu Chenggang, 1994. "Chinese Township-Village Enterprises as Vaguely Defined Cooperatives," Journal of Comparative Economics, Elsevier, vol. 18(2), pages 121-145, April.
    2. Murakami, Naoki & Liu, Deqiang & Otsuka, Keijiro, 1996. "Market Reform, Division of Labor, and Increasing Advantage of Small-Scale Enterprises: The Case of the Machine Tool Industry in China," Journal of Comparative Economics, Elsevier, vol. 23(3), pages 256-277, December.
    3. Li, Hongbin & Rozelle, Scott, 2000. "Saving or stripping rural industry: an analysis of privatization and efficiency in China," Agricultural Economics, Blackwell, Blackwell, vol. 23(3), pages 241-252, September.
    4. Li, David D., 1996. "A Theory of Ambiguous Property Rights in Transition Economies: The Case of the Chinese Non-State Sector," Journal of Comparative Economics, Elsevier, vol. 23(1), pages 1-19, August.
    5. Sonobe, Tetsushi & Hu, Dinghuan & Otsuka, Keijiro, 2004. "From inferior to superior products: an inquiry into the Wenzhou model of industrial development in China," Journal of Comparative Economics, Elsevier, vol. 32(3), pages 542-563, September.
    6. Jiahua Che & Yingyi Qian, . "Insecure Property Rights and Government Ownership of Firms," Working Papers, Stanford University, Department of Economics 97050, Stanford University, Department of Economics.
    7. T. Sonobe & D. Hu & K. Otsuka, 2002. "Process of Cluster Formation in China: A Case Study of a Garment Town," Journal of Development Studies, Taylor & Francis Journals, vol. 39(1), pages 118-139.
    8. Tao, Zhigang & Zhu, Tian, 2000. "Agency and Self-Enforcing Contracts," Journal of Comparative Economics, Elsevier, vol. 28(1), pages 80-94, March.
    9. Chen, Kang & Jefferson, Gary H. & Singh, Inderjit, 1992. "Lessons from China's economic reform," Journal of Comparative Economics, Elsevier, vol. 16(2), pages 201-225, June.
    10. David D. Li, 1996. "A Theory of Ambiguous Property Rights in Transition Economies: The Case of the Chinese Non-State Sector," William Davidson Institute Working Papers Series 8, William Davidson Institute at the University of Michigan.
    11. Chen, Hongyi & Rozelle, Scott, 1999. "Leaders, managers, and the organization of township and village enterprises in China," Journal of Development Economics, Elsevier, Elsevier, vol. 60(2), pages 529-557, December.
    12. Hehui Jin & Yingyi Qian, 1998. "Public Versus Private Ownership Of Firms: Evidence From Rural China," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 113(3), pages 773-808, August.
    13. Murakami Naoki & Liu Deqiang & Otsuka Keijiro, 1994. "Technical and Allocative Efficiency among Socialist Enterprises: The Case of the Garment Industry in China," Journal of Comparative Economics, Elsevier, vol. 19(3), pages 410-433, December.
    14. Li, Hongbin & Rozelle, Scott, 2000. "Saving or stripping rural industry: an analysis of privatization and efficiency in China," Agricultural Economics: The Journal of the International Association of Agricultural Economists, International Association of Agricultural Economists, International Association of Agricultural Economists, vol. 23(3), September.
    15. Jefferson, Gary H. & Rawski, Thomas G. & Zheng, Yuxin, 1996. "Chinese Industrial Productivity: Trends, Measurement Issues, and Recent Developments," Journal of Comparative Economics, Elsevier, vol. 23(2), pages 146-180, October.
    16. Hsiao, Cheng & Nugent, Jeffrey & Perrigne, Isabelle & Qiu, Jicheng, 1998. "Shares versus Residual Claimant Contracts: The Case of Chinese TVEs," Journal of Comparative Economics, Elsevier, vol. 26(2), pages 317-337, June.
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    Cited by:
    1. Jiahua Che, 2003. "The Life Cycle of Government Ownership," William Davidson Institute Working Papers Series 2003-627, William Davidson Institute at the University of Michigan.

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