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Large Firms and Industrial Reform in Former Planned Economies: The Case of China

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  • Nolan, Peter

Abstract

In China's industrial reform, alongside the much-studied dynamism of small industries, there has been a simultaneous powerful growth of large-scale state industry. State planning has played an important role in this process, through heavy protection from international competition and support for selected enterprises which it was hoped would benefit from economies of scale and scope. These enterprises have undergone gradual institutional change, with growing foreign investment and slow movement towards multiplant operation. This process is one in which there are emerging institutions resembling the modern business corporation, albeit with specific Chinese features. (c) 1996 Academic Press Limited Copyright 1996 by Oxford University Press.

Suggested Citation

  • Nolan, Peter, 1996. "Large Firms and Industrial Reform in Former Planned Economies: The Case of China," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 20(1), pages 1-29, January.
    • Handle: RePEc:oup:cambje:v:20:y:1996:i:1:p:1-29
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    Cited by:

    1. Isabel-Maria Bodas Freitas & Jojo Jacob & Lili Wang & Zibiao Li, 2023. "Energy use and exporting: an analysis of Chinese firms," Journal of Evolutionary Economics, Springer, vol. 33(1), pages 179-207, January.
    2. Regina M. Abrami & Yu Zheng, 2010. "The New Face of Chinese Industrial Policy: Making Sense of Anti-Dumping Cases in the Petrochemical and Steel Industries," Harvard Business School Working Papers 11-042, Harvard Business School.
    3. Nolan, Peter & Xiaoqiang, Wang, 1999. "Beyond privatization: Institutional innovation and growth in China's large state-owned enterprises," World Development, Elsevier, vol. 27(1), pages 169-200, January.
    4. Yuk-Shing Cheng & Dic Lo, 2004. "Firm Size, Technical Efficiency and Productivity Growth in Chinese Industry," Working Papers 144, Department of Economics, SOAS University of London, UK.
    5. Massimo Caruso, 2002. "Procyclical Productivity and Output Growth in China: An Econometric Analysis," Open Economies Review, Springer, vol. 13(3), pages 251-274, July.
    6. Servaas Storm & C. W. M. Naastepad, 2005. "Forum 2005," Development and Change, International Institute of Social Studies, vol. 36(6), pages 1059-1094, November.
    7. Onaran, Özlem & Galanis, Giorgos, 2012. "Is aggregate demand wage-led or profit-led? National and global effects," Greenwich Papers in Political Economy 15289, University of Greenwich, Greenwich Political Economy Research Centre.
    8. Holz, Carsten A., 2002. "Long live China's state-owned enterprises: deflating the myth of poor financial performance," Journal of Asian Economics, Elsevier, vol. 13(4), pages 493-529.
    9. Luo, Yadong, 2002. "Partnering with foreign businesses: perspectives from Chinese firms," Journal of Business Research, Elsevier, vol. 55(6), pages 481-493, June.
    10. Fan, Dennis K.K. & Lau, Chung-Ming & Young, Michael, 2007. "Is China's corporate governance beginning to come of age? The case of CEO turnover," Pacific-Basin Finance Journal, Elsevier, vol. 15(2), pages 105-120, April.
    11. Luo, Yadong & Tan, J. Justin, 1997. "How much does industry structure impact foreign direct investment in China?," International Business Review, Elsevier, vol. 6(4), pages 337-359, August.
    12. Smyth, Russell, 2000. "Should China be Promoting Large-Scale Enterprises and Enterprise Groups?," World Development, Elsevier, vol. 28(4), pages 721-737, April.
    13. Polterovich, Victor & Popov, Vladimir, 2006. "Эволюционная Теория Экономической Политики: Часть Ii: Необходимость Своевременного Переключения [The Evolutionary Theory of Economic Policy: Part II: The Necessity of Timely Switching]," MPRA Paper 22170, University Library of Munich, Germany.
    14. Peter Nolan & Jin Zhang, 2002. "The Challenge Of Globalization For Large Chinese Firms," UNCTAD Discussion Papers 162, United Nations Conference on Trade and Development.
    15. Polterovich, Victor & Popov, Vladimir, 2006. "Stages of Development, Economic Policies and a New World Economic Order," MPRA Paper 20055, University Library of Munich, Germany.
    16. Edward S. Steinfeld, 2004. "Market Visions: The Interplay of Ideas and Institutions in Chinese Financial Restructuring," Political Studies, Political Studies Association, vol. 52(4), pages 643-663, December.
    17. Russell Smyth & Zhai Qingguo & Hu Wenguo, 2001. "Restructuring China's Petrochemical Enterprises: A Case Study of the Fushun Petrochemical Company," Post-Communist Economies, Taylor & Francis Journals, vol. 13(2), pages 243-261.
    18. Alberto GABRIELE, 2001. "Science And Technology Policies, Industrial Reform And Technical Progress In China. Can Socialist Property Rights Be Compatible With Technological Catching Up?," UNCTAD Discussion Papers 155, United Nations Conference on Trade and Development.
    19. Ha-Joon Chang & Ajit Singh, 1997. "POLICY ARENA: Can Large Firms Be Run Efficiently Without Being Bureaucratic?," Journal of International Development, John Wiley & Sons, Ltd., vol. 9(6), pages 865-875.
    20. Chengqi Wang & Jeremy Clegg & Mario Kafouros, 2009. "Country-of-Origin Effects of Foreign Direct Investment," Management International Review, Springer, vol. 49(2), pages 179-198, April.

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