skip to content
Das (wasted) kapital : firm ownership and investment efficiency in China Preview this item
ClosePreview this item
Checking...

Das (wasted) kapital : firm ownership and investment efficiency in China

Author: David Dollar; Shang-Jin Wei; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2007.
Series: Working paper series (National Bureau of Economic Research), no. 13103.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Database:WorldCat
Summary:
Based on a survey that we designed and that covers a stratified random sample of 12,400 firms in 120 cities in China with firm-level accounting information for 2002-2004, this paper examines the presence of systematic distortions in capital allocation that result in uneven marginal returns to capital across firm ownership, regions, and sectors. It provides a systematic comparison of investment efficiency among  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

 

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: David Dollar; Shang-Jin Wei; National Bureau of Economic Research.
OCLC Number: 131809047
Description: 1 online resource (1 volume).
Series Title: Working paper series (National Bureau of Economic Research), no. 13103.
Responsibility: David Dollar, Shang-Jin Wei.

Abstract:

Based on a survey that we designed and that covers a stratified random sample of 12,400 firms in 120 cities in China with firm-level accounting information for 2002-2004, this paper examines the presence of systematic distortions in capital allocation that result in uneven marginal returns to capital across firm ownership, regions, and sectors. It provides a systematic comparison of investment efficiency among wholly and partially state-owned, wholly and partially foreign-owned, and domestic privately owned firms, conditioning on their sector, location, and size characteristics. It finds that even after a quarter-of-century of reforms, state-owned firms still have significantly lower returns to capital, on average, than domestic private or foreign-owned firms. Similarly, certain regions and sectors have consistently lower returns to capital than other regions and sectors. By our calculation, if China succeeds in allocating its capital more efficiently, it could reduce its capital stock by 8 percent without sacrificing its economic growth (and hence could raise its household consumption and deliver a faster improvement to its citizens' living standard).

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/131809047> # Das (wasted) kapital : firm ownership and investment efficiency in China
    a schema:Book, schema:MediaObject, schema:CreativeWork ;
    library:oclcnum "131809047" ;
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
    library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/376214428#Place/cambridge_mass> ; # Cambridge, Mass.
    schema:about <http://id.loc.gov/authorities/subjects/sh2008100090> ; # Corporations--China--Finance
    schema:about <http://id.worldcat.org/fast/842570> ; # Business enterprises--Finance--Mathematical models
    schema:about <http://dewey.info/class/330/> ;
    schema:about <http://id.loc.gov/authorities/subjects/sh2008104478> ; # Investments--China
    schema:about <http://id.worldcat.org/fast/879841> ; # Corporations--Finance
    schema:about <http://experiment.worldcat.org/entity/work/data/376214428#Event/1900_1999> ; # 1900-1999
    schema:about <http://id.worldcat.org/fast/901974> ; # Economic history
    schema:about <http://id.worldcat.org/fast/1206073> ; # China.
    schema:about <http://experiment.worldcat.org/entity/work/data/376214428#Place/china> ; # China
    schema:about <http://id.worldcat.org/fast/978234> ; # Investments
    schema:about <http://experiment.worldcat.org/entity/work/data/376214428#Topic/business_enterprises_china_finance_mathematical_models> ; # Business enterprises--China--Finance--Mathematical models
    schema:bookFormat schema:EBook ;
    schema:contributor <http://experiment.worldcat.org/entity/work/data/376214428#Person/wei_shang_jin> ; # Shang-Jin Wei
    schema:contributor <http://experiment.worldcat.org/entity/work/data/376214428#Organization/national_bureau_of_economic_research> ; # National Bureau of Economic Research.
    schema:creator <http://experiment.worldcat.org/entity/work/data/376214428#Person/dollar_david> ; # David Dollar
    schema:datePublished "2007" ;
    schema:description "Based on a survey that we designed and that covers a stratified random sample of 12,400 firms in 120 cities in China with firm-level accounting information for 2002-2004, this paper examines the presence of systematic distortions in capital allocation that result in uneven marginal returns to capital across firm ownership, regions, and sectors. It provides a systematic comparison of investment efficiency among wholly and partially state-owned, wholly and partially foreign-owned, and domestic privately owned firms, conditioning on their sector, location, and size characteristics. It finds that even after a quarter-of-century of reforms, state-owned firms still have significantly lower returns to capital, on average, than domestic private or foreign-owned firms. Similarly, certain regions and sectors have consistently lower returns to capital than other regions and sectors. By our calculation, if China succeeds in allocating its capital more efficiently, it could reduce its capital stock by 8 percent without sacrificing its economic growth (and hence could raise its household consumption and deliver a faster improvement to its citizens' living standard)."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/376214428> ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/376214428#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/376214428#Series/nber_working_paper_series> ; # NBER working paper series ;
    schema:name "Das (wasted) kapital : firm ownership and investment efficiency in China"@en ;
    schema:productID "131809047" ;
    schema:publication <http://www.worldcat.org/title/-/oclc/131809047#PublicationEvent/cambridge_mass_national_bureau_of_economic_research_2007> ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/376214428#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
    schema:url <http://papers.nber.org/papers/w13103> ;
    schema:url <http://0-papers.nber.org.biblio.eui.eu/papers/> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/131809047> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/376214428#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
    schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/376214428#Organization/national_bureau_of_economic_research> # National Bureau of Economic Research.
    a schema:Organization ;
    schema:name "National Bureau of Economic Research." ;
    .

<http://experiment.worldcat.org/entity/work/data/376214428#Person/dollar_david> # David Dollar
    a schema:Person ;
    schema:familyName "Dollar" ;
    schema:givenName "David" ;
    schema:name "David Dollar" ;
    .

<http://experiment.worldcat.org/entity/work/data/376214428#Person/wei_shang_jin> # Shang-Jin Wei
    a schema:Person ;
    schema:familyName "Wei" ;
    schema:givenName "Shang-Jin" ;
    schema:name "Shang-Jin Wei" ;
    .

<http://experiment.worldcat.org/entity/work/data/376214428#Place/cambridge_mass> # Cambridge, Mass.
    a schema:Place ;
    schema:name "Cambridge, Mass." ;
    .

<http://experiment.worldcat.org/entity/work/data/376214428#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/131809047> ; # Das (wasted) kapital : firm ownership and investment efficiency in China
    schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/376214428#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/131809047> ; # Das (wasted) kapital : firm ownership and investment efficiency in China
    schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/376214428#Topic/business_enterprises_china_finance_mathematical_models> # Business enterprises--China--Finance--Mathematical models
    a schema:Intangible ;
    schema:hasPart <http://id.loc.gov/authorities/subjects/sh2009117978> ;
    schema:name "Business enterprises--China--Finance--Mathematical models"@en ;
    .

<http://id.loc.gov/authorities/subjects/sh2008100090> # Corporations--China--Finance
    a schema:Intangible ;
    schema:name "Corporations--China--Finance"@en ;
    .

<http://id.loc.gov/authorities/subjects/sh2008104478> # Investments--China
    a schema:Intangible ;
    schema:name "Investments--China"@en ;
    .

<http://id.worldcat.org/fast/1206073> # China.
    a schema:Place ;
    schema:name "China." ;
    .

<http://id.worldcat.org/fast/842570> # Business enterprises--Finance--Mathematical models
    a schema:Intangible ;
    schema:name "Business enterprises--Finance--Mathematical models"@en ;
    .

<http://id.worldcat.org/fast/879841> # Corporations--Finance
    a schema:Intangible ;
    schema:name "Corporations--Finance"@en ;
    .

<http://id.worldcat.org/fast/901974> # Economic history
    a schema:Intangible ;
    schema:name "Economic history"@en ;
    .

<http://id.worldcat.org/fast/978234> # Investments
    a schema:Intangible ;
    schema:name "Investments"@en ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.