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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

  • Tetsushi Sonobe
  • Keijiro Otsuka

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, August.
  • This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 10191.
    Handle: RePEc:nbr:nberch:10191
    Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
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    1. Jiahua Che & Yingyi Qian, 1997. "Insecure Property rights and Government Ownership of Firms," William Davidson Institute Working Papers Series 51, William Davidson Institute at the University of Michigan.
    2. 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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    12. 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.
    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. Hehui Jin & Yingyi Qian, 1998. "Public Versus Private Ownership Of Firms: Evidence From Rural China," The Quarterly Journal of Economics, MIT Press, vol. 113(3), pages 773-808, August.
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    16. 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.
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