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Using a series of studies, this book shows that ownership structure plays a major role in the national economy as a whole. Inefficient State Owned Enterprises (SOE's) damage the development of private enterprises and overall economic growth in various ways. The policy implications are very clear: in order to achieve healthy and fast economic development, there must be a radical reform of SOEs. Moreover, the aim of the SOE reform is not just to highlight the enterprises' efficiency, but also create favorable conditions for financial deregulation, elimination of market segmentation, weakened market monopoly, and balanced regional economic development. The book argues that SOE reform is pivotal to stimulating general economic reform and development in order for China to achieve a smooth transition to a mature market economy.
List of contents
Chapter1 Introduction.- Chapter2 China's SOEs' Efficiency Losses: A Survey.- Chapter3 Survival Predicament, Soft Budget Constraints and Economic Growth Cumbrance: Mechanism.- Chapter4 Financial Repression, Ownership Discrimination and Economic Growth Cumbrance: Mechanism.- Chapter5 SOEs, Invisible Subsidy and Market Segmentation: Mechanism.- Chapter6 Upstream Monopoly, Asymmetric Competition and Social Welfare: Mechanisms.- Chapter7 Ownership Structure, Growth Differences and Regional Disparities: Mechanism.- Chapter8 Conclusions.
About the author
Ruiming Liu, Ph.D., is a professor in National Academy of Development and Strategy, Renmin University of China. He received a doctor’s degree in Fudan University in 2011. His research has focused on the political economy of China's economic growth, the efficiency of state-owned enterprises and economic growth. This book is the PhD thesis of Ruiming Liu, it won the 6th Mundell-Huang Prize.
Summary
Using a series of studies, this book shows that ownership structure plays a major role in the national economy as a whole. Inefficient State Owned Enterprises (SOE's) damage the development of private enterprises and overall economic growth in various ways. The policy implications are very clear: in order to achieve healthy and fast economic development, there must be a radical reform of SOEs. Moreover, the aim of the SOE reform is not just to highlight the enterprises’ efficiency, but also create favorable conditions for financial deregulation, elimination of market segmentation, weakened market monopoly, and balanced regional economic development. The book argues that SOE reform is pivotal to stimulating general economic reform and development in order for China to achieve a smooth transition to a mature market economy.
