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Impacts of Privatization on Firm Performance in China

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Author Info
Lingang Song (Australia–Japan Research Centre)
Yang Yao () (China Center for Economic Research)
Abstract

This paper studies the impact of privatization on firm performance in China. Using a unique dataset, we are able to control the selection biases of privatization and handle the missing variable problem that are frequently encountered in the transition economies literature. Privatization is found to have a significantly positive impact in firm profitability, but a weak or no significant impact on unit cost and labor productivity. Clear time trends are found for the effect of privatization. Firms with medium length of privatization and firms in the period 1997-1999 are found to have more robust effects.

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File URL: http://www.eaber.org/intranet/documents/39/449/CCER_Song_04.pdf
File Format: application/pdf
File Function: First Version, 2005
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Publisher Info
Paper provided by East Asian Bureau of Economic Research in its series Macroeconomics Working Papers with number 449.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 35 pages
Date of creation: Jul 2004
Date of revision:
Handle: RePEc:eab:macroe:449

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Related research
Keywords: privatization; transition economies; Chinese economy;

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Find related papers by JEL classification:
L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
P27 - Economic Systems - - Socialist Systems and Transition Economies - - - Performance and Prospects
P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Justin Yifu Lin & Guofu Tan, 1999. "Policy Burdens, Accountability, and the Soft Budget Constraint," American Economic Review, American Economic Association, vol. 89(2), pages 426-431, May. [Downloadable!] (restricted)
  2. Roman Frydman & Cheryl Gray & Marek Hessel & Andrzej Rapaczynski, 2000. "The Limits of Discipline: Ownership and Hard Budget Constraints in the Transition Economies," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 8(3), pages 577-601, November. [Downloadable!] (restricted)
  3. Roman Frydman & Cheryl Gray & Marek Hessel & Andrzej Rapaczynski, 1999. "When Does Privatization Work? The Impact Of Private Ownership On Corporate Performance In The Transition Economies," The Quarterly Journal of Economics, MIT Press, vol. 114(4), pages 1153-1191, November. [Downloadable!] (restricted)
  4. Frydman, R. & Gray, C. & Hessel, M. & Rapaczynski, A., 2000. "The Limits of Discipline: Ownership and Hard Budget Constraints in the Transition Economies," Working Papers 00-02, C.V. Starr Center for Applied Economics, New York University. [Downloadable!]
  5. Djankov, Simeon & Murrell, Peter, 2002. "Enterprise Restructuring in Transition: A Quantitative Survey," CEPR Discussion Papers 3319, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  6. William L. Megginson & Jeffry M. Netter, 2001. "From State to Market: A Survey of Empirical Studies on Privatization," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 321-389, June. [Downloadable!] (restricted)
  7. Guoqiang Tian, 2001. "A Theory of Ownership Arrangements and Smooth Transition," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 157(3), pages 380-, September.
  8. Li, Shaomin & Li, Shuhe & Zhang, Weiying, 2000. "The Road to Capitalism: Competition and Institutional Change in China," Journal of Comparative Economics, Elsevier, vol. 28(2), pages 269-292, June. [Downloadable!] (restricted)
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