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Property Rights And The Chinese State-owned Enterprises Reform

Posted on:2004-03-21Degree:DoctorType:Dissertation
Country:ChinaCandidate:S H ShiFull Text:PDF
GTID:1116360095462750Subject:Western economics
Abstract/Summary:PDF Full Text Request
It has been more than twenty years since China began its reform of state-owned enterprises (SOEs). There were a lot of successes and failures, and China escaped the turbulence and confusion that took place in the former socialist countries, i.e. Russia and East Europe.The performance of Chinese SOEs can be concluded as following: a high growth of output, a certain improvement on productivity, and a severe worsening on finance status. The SOEs had made a great contribution to the growth and development of China's economy, but now they become the burden of the country. And the economists are highly debating on the effects and results of the SOE reform.The previous reforms of China's SOEs have been focused on the corporate governance and incentive mechanism. We hold the opinion that the reforms of corporate governance and incentive mechanism indeed enhanced the efficiency of the SOEs, however, the effect of corporate governance and incentive mechanism reform is comparatively limited than the property rights reform, and this limited effect has been exhausted in the past twenty years.The reform of property rights is inevitable for China's SOEs. The competitive property rights and competitive market mechanism are both the foundation of market economy. And the competitive property rights are especially important to a country with an enormous population and a low economic development level such as China. The property rights reform has been brought forward by the Party ten years ago, but there was no distinctive progress. However, we are modestly optimistic with the future of the property rights reform of China's SOEs.
Keywords/Search Tags:State-owned Enterprise, Reform, Property Rights, and Institutions
PDF Full Text Request
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