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Economic Reform and State-Owned Enterprises in China 1979-87

Author

Listed:
  • Hay, Donald

    (Jesus College, Oxford)

  • Morris, Derek

    (Oriel College, Oxford)

  • Liu, Guy
  • Yao, Shujie

Abstract

This book is an investigation into China's reform process during the period 1979 to 1987, with especial reference to the effect of the process on the industries (mostly manufacturing) that are still owned by the state. The data on which this book is based results from a large-scale study in which the authors collaborated with the Institute of Economics of the Chinese Academy of Social Sciences in Beijing. This was a survey of the managers of about 380 enterprises, documenting their responses to the new environment created by the reforms. The statistical information gained has been used as the basis for detailed econometric analysis. This book analyses, drawing on the authors' expertise in industrial economics, virtually every aspect of enterprise behaviour - production and costs, employment, profit margins and profitability, finance, investment decisions, and autonomy. It asks whether the reform programme was successful in the state-owned sectors, and concludes that the answer is a qualified `yes', and that in many respects the enterprises began in the eighties to behave like Western firms. Hay and Morris also construct a model of Chinese state-owned enterprise, and use it to simulate the results of further reform programmes. The authors conclude that state-ownership remains a major constraint on market-led behaviour and efficiency. They argue that the next stage of reform must be to transfer these large enterprises to share- rather than state-ownership.

Suggested Citation

  • Hay, Donald & Morris, Derek & Liu, Guy & Yao, Shujie, 1994. "Economic Reform and State-Owned Enterprises in China 1979-87," OUP Catalogue, Oxford University Press, number 9780198288459.
    • Handle: RePEc:oxp:obooks:9780198288459
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    Citations

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    Cited by:

    1. Shujie Yao, 1999. "Economic growth, income inequality and poverty in china under economic reforms," Journal of Development Studies, Taylor & Francis Journals, vol. 35(6), pages 104-130.
    2. Nolan, Peter & Xiaoqiang, Wang, 1999. "Beyond privatization: Institutional innovation and growth in China's large state-owned enterprises," World Development, Elsevier, vol. 27(1), pages 169-200, January.
    3. Perkins, Frances C., 1994. "State enterprise reform and macro-economic stability in transition economies," Kiel Working Papers 665, Kiel Institute for the World Economy (IfW Kiel).
    4. Elliott, Robert J.R. & Zhou, Ying, 2015. "Co-location and Spatial Wage Spillovers in China: The Role of Foreign Ownership and Trade," World Development, Elsevier, vol. 66(C), pages 629-644.
    5. John Knight & Sai Ding, 2010. "Why Does China Invest So Much?," Asian Economic Papers, MIT Press, vol. 9(3), pages 87-117, Fall.
    6. Paul L. Forrester & Robin S. Porter, 1999. "The Politics of Management in People's China: From CMRS to Modern Enterprise and Beyond," Asia Pacific Business Review, Taylor & Francis Journals, vol. 5(3-4), pages 47-72, March.
    7. Robert Elliott & Ying Zhou, 2013. "State-owned Enterprises, Exporting and Productivity in China: A Stochastic Dominance Approach," The World Economy, Wiley Blackwell, vol. 36(8), pages 1000-1028, August.
    8. Thomas Rawski, 1997. "Who has soft budget constraints?," Global Economic Review, Taylor & Francis Journals, vol. 26(1), pages 29-49.
    9. Martin Raiser, 1998. "Subsidising inequality: Economic reforms, fiscal transfers and convergence across Chinese provinces," Journal of Development Studies, Taylor & Francis Journals, vol. 34(3), pages 1-26.
    10. Ram Mohan, T. T., 2004. "Privatisation in China: softly, softly does it," IIMA Working Papers WP2004-09-04, Indian Institute of Management Ahmedabad, Research and Publication Department.
    11. Raiser, Martin, 1997. "How are China's state-owned enterprises doing in the 1990s? Evidence from three interior provinces," China Economic Review, Elsevier, vol. 8(2), pages 191-216.
    12. Raiser, Martin, 1995. "Decentralisation, autonomy and efficiency: Inconsistent reforms and enterprise performance in China," Kiel Working Papers 689, Kiel Institute for the World Economy (IfW Kiel).
    13. Weihwa Pan & David Parker, 1997. "A Study of Management Attitudes in Chinese State-Owned Enterprises, Collectives and Joint Ventures," Asia Pacific Business Review, Taylor & Francis Journals, vol. 3(3), pages 38-63, March.
    14. David Coady & Limin Wang, 2000. "Incentives, allocation and labour-market reforms during transition: the case of urban China, 1986-1990," Applied Economics, Taylor & Francis Journals, vol. 32(4), pages 511-526.
    15. Shu-Yun Ma, 2010. "Shareholding System Reform in China," Books, Edward Elgar Publishing, number 13243.
    16. Raiser, Martin, 1995. "Industrial reforms in China: State-owned enterprises between output growth and profitability decline," Kiel Working Papers 672, Kiel Institute for the World Economy (IfW Kiel).
    17. Wang, Qingtao & Chen, Kevin Z. & Chiang, Longwen & Xie, Xuanli, 2016. "How headquarters relocation is affected by rising wages and ownership: Evidence from China's annual survey of industrial enterprises, 1999–2008," IFPRI discussion papers 1593, International Food Policy Research Institute (IFPRI).
    18. Linda Yueh, 2010. "The Economy of China," Books, Edward Elgar Publishing, number 3705.
    19. Go Yano & Maho Shiraishi & Xohrat Mahmut, 2011. "What caused the 'marginal-products-of-labour wage gap' in state-owned enterprises in China during the early-reform era? A reconsideration based on a case study in Henan," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 9(3), pages 217-238.

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