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| Tekijä: | Naughton, B. |
| Otsikko: | Chinese institutional innovation and privatization from below |
| Lehti: | American Economic Review
1994 : MAY, VOL. 84:2, p. 266-270 |
| Asiasana: | CHINA INNOVATION PRIVATIZATION |
| Kieli: | eng |
| Tiivistelmä: | One of the most distinctive features of China's transition to a market economy has been the role played by rural township and village enterprises (TVEs). Most of TVEs are "collectives", a form of publicly owned enterprise. This article has suggested an explanation for the robust survival of local-government-owned firms in the Chinese transition. In order to achieve such advantages, local-government-owned firms had to be adequate in a number of othe dimensions. TVEs must have effective incentive structures and reasonably hard budget constraints. |
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