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Three Essays on China's State Owned Enterprises. Edition No. 1

  • ID: 1905400
  • October 2008
  • Region: China
  • 176 Pages
  • VDM Publishing House
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A common theme in the analysis of the contemporary
Chinese economy is that the Chinese state owned
enterprises fail to operate efficiently because of
ambiguous property rights, soft budget constraints,
and government intervention. These authors advocate
an economic reform program based on large-scale
privatization. This monograph advances an
alternative perspective on the state owned
enterprises. It argues that the state owned
enterprises have made an important contribution to
China's macroeconomic stability. In the Chinese
context, the state owned enterprise sector must be
sufficiently large so that public sector investment
accounts for about 50 percent of the total capital
formation. The performance of the state owned
enterprises can be enhanced by promoting workers'
participation in management. Much of the disguised
unemployment in the state sector may be due to
insufficient aggregate demand rather than technical
inefficiency. An increase in aggregate demand
should lead to substantially higher productivity in
the state owned enterprises.

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Minqi Li.
Minqi Li received Ph.D in economics at University of
Massachusetts Amherst in 2002. He taught political science at
York University from 2003 to 2006. He currently teaches
economics at University of Utah. He is the author of The Rise
of China and the Demise of the Capitalist World-Economy (Pluto
Press, 2008).

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