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The Soft Budget Constraint in China
Oleh:
Qian, Y.
;
Roland, G.
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
JAPAN AND THE WORLD ECONOMY vol. 8 no. 2 (1996)
,
page 207-224.
Topik:
budgets
;
soft budget constraint
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
JJ47.6
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
This paper identifies five factors affecting the degree of softness or hardness of budget constraints of enterprises in China. Budget constraints become harder : (1) under fiscal decentralization and competition between regions ; (2) under more competitive labor and product markets reducing employment rents ; (3) when there is a smaller number of enterprises within each jurisdiction. On the other hand, budget constraints become softer : (1) under monetary decentralization ; (2) when enterprises have a larger size and social costs of layoffs are convex. We use these results to explain why township - village enterprises have harder budget constraints than state - owned enterprises.
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