Private enterprises have contributed significantly to China's recent economic growth and will play a key role in achieving China's goal of building a comprehensively well-society. But how can private enterprises help China mitigate its macroeconomic problems such as unemployment, income inequality, financial disintermediation, and an unhealthy economic cycle? And what are the main obstacles to private enterprise development? Private Enterprises and China’s Economic Development answers these questions by identifying the range of cultural, political and financial challenges confronting China's private enterprises, and assessing their performance and potential. Contributors also analyse the experiences and lessons of other countries, and propose strategies and policies to help China promote private enterprise development.
Using the most up to date research on private enterprises, including detailed econometric analysis and national representative data, authors including economists, policy-makers and academics from the USA, China, Singapore and Canada comprehensively address the most important aspects of China’s private enterprise development. As such this book will appeal to students, scholars and policy-makers alike with an interested in the Chinese economy, economic growth, comparative economics and transitional economics.
1. Introduction and Overview Part 1: Financial Reforms and Enterprise Development 2. Some Thoughts on Financial Reform in Rural Areas 3. Is Public Listing a Way Out for Chinese State-owned Enterprises? 4. Financing of Private Enterprises and Deepening Financial Reform 5. Commercial Bank Regulation and Supervision: U.S. Experiences and China Implications Part 2: Private Enterprises, Efficiency, and Economic Growth 6. Private Enterprise Development and the Profitability of China’s Regional SOEs 7. A Panel-data Sensitivity Analysis of Regional Growth in China 8. Private, State-owned, and Foreign-invested Enterprises: An Analysis of Investment Sources on Growth in China Part 3: Openness, Legal Protection, and Private Enterprises 9. Trade, FDI, and Productivity of China’s Private Enterprises 10. The Demand and Supply of Energy in China: Implications for the Private Sector 11. Legal Protections of Administrative Regulations on Private Enterprises Part 4: Private Enterprises, Employment and Earnings 12. Policy Reforms, Private Enterprise Development and Rural Household Earnings 13. Effects of Privatization on Employment in Transitional China 14. The Effect of Education and Wage Determination in China’s Rural Industry 15. Privatization and Rising Earnings Inequality in China’s Rural Industries: Evidence from Shandong and Jiangsu