Competition, Policy Burdens, and State-Owned Enterprise Reform
Competition, Policy Burdens, and State-Owned Enterprise Reform
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发表时间：
1998
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通讯作者：
J. Lin;F. Cai;Zhou Li
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作者：
J. Lin;F. Cai;Zhou Li
在中国向市场经济转型的过程中，最重要的遗留问题之一是国有企业的改革。1978年底改革开始时，国有企业在中国工业部门的各个方面都占主导地位。经过18年的逐步转型，国有企业占中国工业总产值的比重已从1978年的77.6%下降到1996年的28.8%。然而，在1996年，国有企业仍然雇佣了57.4%的城镇工人，拥有工业固定资产投资总额的52.2%。改善国有企业经营状况对中国社会稳定和持续发展至关重要。然而，超过40%的国有企业正在亏损。在本文中，我们将论证国有企业问题的根源在于所有权和控制权的分离，而经常受到批评的软预算约束源于国家强加的各种政策负担，这些政策负担使国家对国有企业的不良表现负责。国有企业改革成功的关键是消除政策负担，创造公平的竞争环境，使市场竞争能够为国有企业的经营绩效提供充分的信息，使管理者的激励与国家的激励相适应
One of the most important remaining issues in China's transition to a market economy is the reform of state-owned enterprises (SOE's). When reforms started in late 1978, SOE's dominated China's industrial sectors in every aspect. After 18 years of gradual transition, the SOE share in China's total industrial output has declined from 77.6 percent in 1978 to 28.8 percent in 1996. However, in 1996 SOE's still employed 57.4 percent of urban workers and possessed 52.2 percent of total investment in industrial fixed assets. Improving SOE performance is crucial for social stability and sustained growth in China. However, over 40 percent of SOE's are losing money. In this paper, we will argue that the root of the SOE problem is the separation of ownership and control and that the oftencriticized soft-budget constraints arise from various state-imposed policy burdens, which make the state accountable for the poor perfornance of SOE's. The key for a successful SOE reform is to remove the policy burdens and to create a level playing field so that market competition can provide sufficient information for the managerial performance of the SOE's and make the managers' incentives compatible with those of the state)' Io Competition and the Performance of Large Corporation in a Market Economy