国有企业的“效率悖论”及其深层次的解释国有企业的“效率悖论”及其深(国外英语资料).doc

国有企业的“效率悖论”及其深层次的解释国有企业的“效率悖论”及其深(国外英语资料) The paradox of efficiency of state-owned enterprises and its deep explanation The state-owned enterprises efficiency paradox and deep explanation for 2001-08-22 and the considerable part of economists believe that the efficiency of state-owned enterprises in China is a paradox, from the micro financial point of view of state-owned enterprises continues to deteriorate, is inefficient, but the total factor productivity (TFP) has been in it growth in the state, is efficient; from the microscopic changes of competition and economic proportion of view is not efficient, but from the point of view of the macroeconomic impact is efficient; from the survival competition index is inefficient, but from the macro social economic resources is efficient. The efficiency of Chinas state-owned enterprises is called the efficiency paradox by the world bank. Many scholars have made different interpretations of the efficiency. The representative includes: one is the early interpretation of the world bank, that is Chinese market competition to strengthen the TFP of state-owned enterprises there is growth, and incomplete property rights and the corresponding principal-agent relationship leads to the deterioration of the financial efficiency of state-owned enterprises; the two is Li Peilins explanation that state-owned enterprises is too high this situation leads to the social cost efficiency; three is the Chinese Industrial Development Report (1999), Norton, Jiang Xiaojuan, Chen Hongwen, Zhang Jun and diclo of state-owned enterprises efficiency paradox explanation is that economies of scale leads to the increase of TFP, and the deterioration of the macroeconomic environment causes the deterioration of the financial situation the state-owned enterprises (diclo, 2000); four Yoshio Wada explains, that the management cost and the cost of financing high erosion The profitability of state-owned enterprises leads to the deviation between production e