Abstract/Details

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


2005 2005

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Abstract (summary)

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.

Indexing (details)


Subject
Economics;
Public companies;
Economic growth;
Government sponsored enterprises;
Income;
Privatization;
Studies
Classification
0501: Economics
Identifier / keyword
Social sciences, Economic growth, Mixed economies, Public enterprises, Social equity
Title
Public enterprises in mixed economies: Their impact on economic growth and social equity
Author
Zhu, Andong
Number of pages
278
Publication year
2005
Degree date
2005
School code
0118
Source
DAI-A 66/11, Dissertation Abstracts International
Place of publication
Ann Arbor
Country of publication
United States
ISBN
0542383837, 9780542383830
Advisor
Kotz, David M.; Pollin, Robert
University/institution
University of Massachusetts Amherst
University location
United States -- Massachusetts
Degree
Ph.D.
Source type
Dissertations & Theses
Language
English
Document type
Dissertation/Thesis
Dissertation/thesis number
3193964
ProQuest document ID
304997351
Copyright
Database copyright ProQuest LLC; ProQuest does not claim copyright in the individual underlying works.
Document URL
http://search.proquest.com/docview/304997351
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