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Promoting Private Entrepreneurship for Deepening Market Reform in China: A Resource Allocation Perspective

机译:资源配置视角下的促进民营企业深化市场改革

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摘要

After more than three decades of rapid growth, China's economy is going through an important turning point, where structural imbalances in both supply and demand sides must be addressedfor a more moderate and sustainable growth path. By focusing on the structural changes to its ownership, a central element in China's economic transformation under market reform, the present paper highlights the importance of private entrepreneurship in deepening market reform and, thereby, in driving economic growth in a more efficient and sustainable way. Based on a perspective of resource allocation and a conceptual framework of entrepreneurship, the paper elaborates on the evolution of the private sector and its performance in the context of ownership reform, making comparisons with the performance of the state sector. The analysis suggests that there is further room for more productive use of economic resources, especially capital, land and natural resources, by increasing the participation of private entrepreneurs in industries with high entry barriers in favor of state-owned enterprises. Moreover, more competitive and equal access to productive resources through reform is needed to promote more productive entrepreneurship and to reduce rent-seeking activities.
机译:经过三十多年的快速增长,中国经济正经历一个重要的转折点,必须解决供需双方的结构性失衡问题,以实现更为温和和可持续的增长道路。通过关注所有权的结构变化,这是市场改革下中国经济转型的核心要素,本文强调了私营企业家精神在深化市场改革,从而以更有效和可持续的方式推动经济增长中的重要性。基于资源分配的视角和企业家精神的概念框架,本文详细阐述了私有制的演进及其在所有制改革背景下的绩效,并与国有部门的绩效进行了比较。分析表明,通过增加私人企业家对进入壁垒较高的行业的参与,有利于国有企业,还有更多的空间可以更有效地利用经济资源,特别是资本,土地和自然资源。此外,需要通过改革更加竞争性和平等地获得生产资源,以促进生产性企业家精神并减少寻租活动。

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