State Led Privatization In China

Author : Jin Zeng
Publisher : Routledge
ISBN 13 : 1134464967
Total Pages : 262 pages
Book Rating : 4.68/5 ( download)

DOWNLOAD NOW!

Download or read book State-Led Privatization in China written by Jin Zeng and published by Routledge. This book was released on 2013-10-01 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large-scale privatization did not emerge spontaneously in China in the late 1990s. Rather, the Chinese state led and carefully “planned” ownership transformation with timetables and measurable privatization quotas, not for the purpose of extracting the state from the economy, but in order to strengthen the rule of the Party. While it is widely believed that authoritarian regimes are better suited than democracies to carry out economic reform, this book provides a more nuanced understanding of reform in China, demonstrating that the Chinese state’s capacity to impose unpopular reform is contingent on its control over local state agents and its adaptability to societal demands. Building on rich fieldwork data gathered in three Chinese cities (Shenyang, Shanghai, and Xiamen), this book offers the first comparative study of China’s privatization processes at the local level. Instead of focusing solely on political elites, Jin Zeng adopts a multi-level interaction approach to examine how the complex interplay of the central leadership, grassroots officials, and state-owned enterprise managers and workers shaped the contour of privatization in China.The book advances three central arguments. First, local economic structure and cadre evaluation system mediated local officials’ incentives to initiate privatization. Second, local officials relied on mobilization campaigns and various appeasement measures to implement privatization. Finally, the dynamics of privatization were fundamentally driven by the central government’s reactions to social opposition and by the subsequent responses of local officials to the changed political-regulatory environment. As a detailed analysis of the dual transformation of the property regime and state–society relations in China, this book will be invaluable to students and scholars of Chinese politics, economic reform, as well as those interested in comparative political economy and economic development more broadly.

Author : Shahid Yusuf
Publisher : World Bank Publications
ISBN 13 : 0821356259
Total Pages : 300 pages
Book Rating : 4.58/5 ( download)

DOWNLOAD NOW!

Download or read book Under New Ownership written by Shahid Yusuf and published by World Bank Publications. This book was released on 2006 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although China's centrally planned economy is a little more than a shadow of its former self, the closely inter-linked reforms of the enterprise and banking sectors are still incomplete. The relative size of the state-owned enterprise sector has been much reduced, however, the sector remains the dominant borrower from the banking system and is responsible for the majority of bank non-performing assets. Thus in the interests of financial stability it is crucial to implement the remaining reform agenda. The accession to the WTO has also made it more urgent for China's most-dynamic state-owned en.

Author : Stephen Green
Publisher : Wiley-Blackwell
ISBN 13 :
Total Pages : 268 pages
Book Rating : 4.41/5 ( download)

DOWNLOAD NOW!

Download or read book Exit the Dragon? written by Stephen Green and published by Wiley-Blackwell. This book was released on 2005-04-08 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work evaluates China's privatization experience, drawing on the research of ten scholars from around the world. It investigates the factors determining the decision by government officials to sell or retain their firms, discusses how credible the government's ambition is to create world-class, state-owned conglomerates and much more.

Author : Yi-min Lin
Publisher : Oxford University Press
ISBN 13 : 0190682841
Total Pages : 304 pages
Book Rating : 4.42/5 ( download)

DOWNLOAD NOW!

Download or read book Dancing with the Devil written by Yi-min Lin and published by Oxford University Press. This book was released on 2017-05-01 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: From 1978 through the turn of the century, China was transformed from a state-owned economy into a predominantly private economy. This fundamental change took place under the Chinese Communist Party (CCP), which has been ideologically and politically predisposed to suppress private ownership. In Dancing with the Devil, Yi-min Lin explains how and why such a paradoxical reality came about. He shows that private ownership became a necessary evil for the CCP because the public sector was increasingly unable to address two essential concerns for regime survival: employment and revenue. Focusing on political actors as major change agents, Lin examines how their self-interested behavior led to the decline of public ownership in the context of China's evolving demographics and fiscal system. The constraints and incentives associated with these factors help explain CCP leaders' initial decision to allow limited private economic activities at the outset of reform. They also shed light on the ballooning opportunism among lower officials, which undermined the vitality of public enterprises. Furthermore, they hold a key to understanding the timing of the massive privatization in the late 1990s, as well as its tempo and spread thereafter. Dancing with the Devil illustrates how the driving forces developed and played out in these intertwined episodes of the story. In so doing, it offers new insights into the mechanisms of China's economic transformation and enriches theories of institutional change.

Author : R. Coase
Publisher : Springer
ISBN 13 : 1137019379
Total Pages : 256 pages
Book Rating : 4.70/5 ( download)

DOWNLOAD NOW!

Download or read book How China Became Capitalist written by R. Coase and published by Springer. This book was released on 2016-04-30 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.

Author : Barry Naughton
Publisher : Cambridge University Press
ISBN 13 : 1107081068
Total Pages : 297 pages
Book Rating : 4.62/5 ( download)

DOWNLOAD NOW!

Download or read book State Capitalism, Institutional Adaptation, and the Chinese Miracle written by Barry Naughton and published by Cambridge University Press. This book was released on 2015-06-09 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores how Chinese institutions have adapted to the new challenges of 'state capitalism'.

Author : Shuyun Ma
Publisher : Edward Elgar Publishing
ISBN 13 : 1849805369
Total Pages : 173 pages
Book Rating : 4.60/5 ( download)

DOWNLOAD NOW!

Download or read book Shareholding System Reform in China written by Shuyun Ma and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: This insightful book demonstrates how China has emerged as one of the world's largest privatizing countries within a decade. Since the 1980s, there has been a global wave of transfer of state assets to private hands. China is a relatively late participant in this worldwide trend, yet, in the last decade it has emerged as one of the largest privatizing countries. Shu-Yun Ma argues that China s privatization is not based on any grand blueprint; rather, it is privatization by groping for stones to cross the river , a well-known metaphor often attributed to Deng Xiaoping, meaning that the reform simply proceeds on a trial-and-error basis without being guided by any theory. With original case studies, including one on China s first industrial shareholding enterprise, this informative book, will be of great interest to the academic community, China observers and policymakers, as well as financial analysts.

Author : Shahid Yusuf
Publisher :
ISBN 13 :
Total Pages : 284 pages
Book Rating : 4.85/5 ( download)

DOWNLOAD NOW!

Download or read book Under New Ownership written by Shahid Yusuf and published by . This book was released on 2006 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Carl E. Walter
Publisher : John Wiley & Sons
ISBN 13 :
Total Pages : 344 pages
Book Rating : 4.81/5 ( download)

DOWNLOAD NOW!

Download or read book Privatizing China written by Carl E. Walter and published by John Wiley & Sons. This book was released on 2003-06-25 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much is written about the various efforts aimed at reforming China’s state-owned enterprises. But in all this literature the Chinese government’s determined effort to use the equity capital markets as a tool of enterprise reform has been virtually ignored. The fact is that during the past decade this has been, and will continue to be, the principal thrust with regard to the reform of state-owned enterprises. On-again, off-again, noises about bankruptcy, M&A solutions and asset management companies are only sideshows in the process. Carl E. Walter is a Managing Director of JP Morgan and Chief Operating Officer of its China businesses. Prior to joining JP Morgan in 2001, Mr. Walter was a Managing Director and member of the Management Committee of China International Capital Corporation. He was Chief Representative in Beijing for Credit Suisse First Boston from 1993-8. During his decade in China, Mr. Walter has participated in a number of pathbreaking international and domestic share listings and debt issues for Chinese companies, banks and the Ministry of Finance. He holds a PhD from Stanford University and a graduate certificate from Beijing University. Fraser Howie is an independent financial analyst located in Beijing. Over the past ten years he has worked in Hong Kong trading equity derivatives at Bankers Trust and Morgan Stanley. After moving to China in 1998 he worked in the Sales and Trading Department of China International Capital Corporation then with a domestic retail financial services company and most recently with China M&A Management Company.

Author : Jin Zeng
Publisher : Routledge
ISBN 13 : 1134464894
Total Pages : 216 pages
Book Rating : 4.90/5 ( download)

DOWNLOAD NOW!

Download or read book State-Led Privatization in China written by Jin Zeng and published by Routledge. This book was released on 2013-10-01 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large-scale privatization did not emerge spontaneously in China in the late 1990s. Rather, the Chinese state led and carefully “planned” ownership transformation with timetables and measurable privatization quotas, not for the purpose of extracting the state from the economy, but in order to strengthen the rule of the Party. While it is widely believed that authoritarian regimes are better suited than democracies to carry out economic reform, this book provides a more nuanced understanding of reform in China, demonstrating that the Chinese state’s capacity to impose unpopular reform is contingent on its control over local state agents and its adaptability to societal demands. Building on rich fieldwork data gathered in three Chinese cities (Shenyang, Shanghai, and Xiamen), this book offers the first comparative study of China’s privatization processes at the local level. Instead of focusing solely on political elites, Jin Zeng adopts a multi-level interaction approach to examine how the complex interplay of the central leadership, grassroots officials, and state-owned enterprise managers and workers shaped the contour of privatization in China.The book advances three central arguments. First, local economic structure and cadre evaluation system mediated local officials’ incentives to initiate privatization. Second, local officials relied on mobilization campaigns and various appeasement measures to implement privatization. Finally, the dynamics of privatization were fundamentally driven by the central government’s reactions to social opposition and by the subsequent responses of local officials to the changed political-regulatory environment. As a detailed analysis of the dual transformation of the property regime and state–society relations in China, this book will be invaluable to students and scholars of Chinese politics, economic reform, as well as those interested in comparative political economy and economic development more broadly.