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Detail
ArtikelThe 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 artikelThis 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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