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Ownership and Growth

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  • Gylfason, Thorvaldur
  • Herbertsson, Tryggvi Thor
  • Zoega, Gylfi

Abstract

This paper introduces state-owned enterprises into an endogenous-growth model with an expanding variety of inputs. It shows that, if state firms are less efficient than private firms in organizing labour and also in adopting new technology, the rate of innovation and, hence, also the rate of growth of output will be lower in the long run, ceteris paribus, because the rate of innovation is adversely affected. The model is tested on cross-section data for about 75 industrial and developing countries over the period 1978–92. We find that the size of state-owned sector is inversely related to total factor productivity and economic growth.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 1900.

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Date of creation: Jun 1998
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Handle: RePEc:cpr:ceprdp:1900

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Related research

Keywords: Endogenous Growth; state-owned enterprises; static and dynamic efficiency;

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Cited by:
  1. Panayotis Kapopoulos & Sophia Lazaretou, 2009. "Does corporate ownership structure matter for economic growth? A cross-country analysis," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 30(3), pages 155-172.
  2. Thorvaldur Gylfason & Gylfi Zoega, 2002. "Natural Resources And Economic Growth: The Role Of Investment," Working Papers Central Bank of Chile, Central Bank of Chile 142, Central Bank of Chile.
  3. Thorvaldur Gylfason & Gylfi Zoega, 2002. "Inequality and Economic Growth: Do Natural Resources Matter?," CESifo Working Paper Series 712, CESifo Group Munich.
  4. Xianfeng Huang & Ping Li & Richard Lotspeich, 2009. "The size of the SOE sector and macroeconomic performance: an empirical study based on Chinese provincial data," Economic Change and Restructuring, Springer, Springer, vol. 42(4), pages 319-343, November.
  5. Gerhard Glomm & Fabio Mendez, 2005. "Does Inefficiency Justify Privatization? The Case of Intermediate Industry Monopolies," Macroeconomics, EconWPA 0507024, EconWPA.
  6. Huang, Xianfeng & Li, Ping & Lotspeich, Richard, 2010. "Economic growth and multi-tasking by state-owned enterprises: An analytic framework and empirical study based on Chinese provincial data," Economic Systems, Elsevier, vol. 34(2), pages 160-177, June.

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