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Public enterprises in mixed economies: Their impact on economic growth and social equity.

机译:混合经济体中的公共企业:它们对经济增长和社会公平的影响。

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摘要

Privatization is a crucial component of the neoliberal policies prevailing over much of the world in the past two and half decades. The underlying theoretical argument of these policies is that state-owned enterprises (SOEs) are inherently inefficient and therefore hinder economic growth. However, the existing literature falls short of providing a solid theoretical basis for this argument. In fact, some argue that SOEs have the potential to contribute positively to economic growth and equity. Whether SOEs can realize this potential or not is an empirical question. Unfortunately, the few existing empirical studies considering the impacts of SOEs on growth and equity fail to offer any clear-cut conclusions. In addition, these empirical studies suffer some serious econometric and measurement problems.;This study improves on the existing researches by utilizing a panel data set of all the mixed economies for the time period from the 1960s all through the 1990s. By applying fixed effects techniques, this study empirically explores the impacts of SOEs on economic growth and income equality. There are two main results. First, SOEs are found to have a significant and positive influence on per capita GDP growth. In addition, this study also identifies investment growth as one main channel of this influence. Second, it is shown that SOEs contribute significantly and positively to income equality. These results are supported by the summary statistics about public enterprises' macro performances and case studies. The results from this study raise serious concerns over the desirability of indiscriminate privatization.
机译:私有化是新自由主义政策的重要组成部分,在过去的两个半个世纪中,这一政策在世界各地普遍盛行。这些政策的理论依据是,国有企业本质上效率低下,因此阻碍了经济增长。但是,现有文献不足以为该论证提供扎实的理论基础。实际上,有人认为国有企业有潜力为经济增长和公平做出积极贡献。国有企业能否实现这一潜力是一个经验问题。不幸的是,考虑到国有企业对增长和公平的影响的少数现有经验研究未能给出明确的结论。此外,这些经验研究还存在一些严重的计量经济学和计量问题。本研究通过利用从1960年代到1990年代的所有混合经济体的面板数据集,对现有研究进行了改进。通过应用固定效应技术,本研究从经验上探索了国有企业对经济增长和收入平等的影响。有两个主要结果。首先,发现国有企业对人均GDP增长具有重大而积极的影响。此外,本研究还确定投资增长是这种影响的主要渠道。第二,表明国有企业为收入平等做出了积极的积极贡献。这些结果得到有关公共企业宏观绩效的摘要统计数据和案例研究的支持。这项研究的结果引起了人们对不加区分的私有化的期望的严重关注。

著录项

  • 作者

    Zhu, Andong.;

  • 作者单位

    University of Massachusetts Amherst.;

  • 授予单位 University of Massachusetts Amherst.;
  • 学科 Economics General.
  • 学位 Ph.D.
  • 年度 2005
  • 页码 278 p.
  • 总页数 278
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 经济学;
  • 关键词

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