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Dual-track Ownership Reforms: Lessons from Structural Change in China, 1978-1997

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  • Sonja Opper

Abstract

The dual-track approach is characteristic of evolutionary reforms in China. The most important aspect of this dualism has been the reform of the ownership structure. On the one track, new, basically market-oriented institutions emerged in a parallel economy comprising non-state enterprises. On the other track, stateowned enterprises were retained and reforms were restricted to conservative policy changes bringing minor productivity-enhancing measures. In order to highlight the performance of the two tracks, a widely neglected indicator is employed to check the performance of enterprises: namely a structural comparison of the resource reallocation processes of both tracks over time. It becomes clear that structural adjustment was basically generated by the new track. In addition, it is shown that the increasing competition from the new track will not accelerate structural adjustment of the old track as long as institutional reforms of SOEs are not significantly extended.

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  • Sonja Opper, 2001. "Dual-track Ownership Reforms: Lessons from Structural Change in China, 1978-1997," Post-Communist Economies, Taylor & Francis Journals, vol. 13(2), pages 205-227.
    • Handle: RePEc:taf:pocoec:v:13:y:2001:i:2:p:205-227
    DOI: 10.1080/14631370120052672
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    References listed on IDEAS

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    1. Yingyi Qian, 1999. "The Institutional Foundations of China's Market Transition," Working Papers 99011, Stanford University, Department of Economics.
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    Cited by:

    1. Shu-Yun Ma, 2010. "Shareholding System Reform in China," Books, Edward Elgar Publishing, number 13243.
    2. Giovanni Ferri, 2008. "Banking In China: Are New Tigers Supplanting the Mammoths?," Working Papers 052008, Hong Kong Institute for Monetary Research.
    3. Ma, Yuanyuan & Walsh, Patrick Paul, 2013. "Party Membership and State Jobs in Urban China," IZA Discussion Papers 7643, Institute of Labor Economics (IZA).
    4. Ferri, Giovanni, 2009. "Are New Tigers supplanting Old Mammoths in China's banking system? Evidence from a sample of city commercial banks," Journal of Banking & Finance, Elsevier, vol. 33(1), pages 131-140, January.

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