haku: @author Roland, G. / yhteensä: 10
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| Tekijä: | Qian, Y. Roland, G. |
| Otsikko: | The soft budget constraint in China |
| Lehti: | Japan and the World Economy
1996 : JUN, VOL. 8:2, p. 207-224 |
| Asiasana: | JAPAN BUDGET CHINA |
| Kieli: | eng |
| Tiivistelmä: | This paper identifies five factors affecting the degree of softness or hardness of budget constraints of enterprises in China. Budget constraints become harder: (1) under fiscal decentralization and competition between regions; (2) under more competitive labor and product markets reducing employment rents; (3) when there is a smaller number of enterprises within each jurisdiction. On the other had, budget constraints become softer under monetary decentralization and when enterprises have a larger size and social costs of layoffs are convex. |
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