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Optimal withdrawing path of state-owned capital in economic transition A dynamic model

Author

Listed:
  • XIE Ming

    (School of Economics, Fudan University, Shanghai 200100, China)

Abstract

This paper presents a dynamic model based on the utility maximum decisions of both the government and private sectors to study the optimal withdrawing path of state-owned capital in economic transition. Numerical simulation shows that: (1) an optimal transition path still exists when treating government and private sectors separately, (2) when the transition cost is higher than its critical value, the economy will never start a transition by itself. In addition, this analysis offers theoretical supports for some reform policies adopted by governments during transition.

Suggested Citation

  • XIE Ming, 2008. "Optimal withdrawing path of state-owned capital in economic transition A dynamic model," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 3(1), pages 38-50, March.
    • Handle: RePEc:fec:journl:v:3:y:2008:i:1:p:38-50
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    File URL: http://journal.hep.com.cn/fec/EN/10.1007/s11459-008-0003-y
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    More about this item

    Keywords

    ratio of state-owned capital; economic transition; optimal path;
    All these keywords.

    JEL classification:

    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform

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