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• W48475829 abstract "There are two main theories about the costs and benefits of public ownership: the efficiency theory that public ownership is a means for government to achieve its social objectives and the political patronage theory that public ownership is used by government officials to pursue their personal gains. The latest development of the efficiency theory emphasizes that state-owned enterprises engage in multiple tasks and one of the tasks has externalities. This theory implies that the incentives for privatization depend on the level of the government. Using a panel data set of 26,153 state-owned enterprises in China from 1995 to 1997, this paper tests this as well as other implications of the two main theories of public ownership and finds strong support for the efficiency theory, especially the multi-task efficiency theory, but mixed support for the political patronage theory." @default.
• W48475829 created "2016-06-24" @default.
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• W48475829 date "2005-01-01" @default.
• W48475829 modified "2023-10-18" @default.
• W48475829 title "Divergent Interests between Central and Local Governments: Testing Theories of Public Ownership" @default.
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• W48475829 hasPublicationYear "2005" @default.
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