During China's first decade of reform, the industrial investment system the subject of this report, was substantially reformed relative to the 1970s. Still, there continued to be widespread concern that soft-budget constraints, underdeveloped capital markets, and official interference in the allocation of scarce investment resources were resulting in vast misallocations of capital. Key issues concerning enterprise investment behavior raised in this...
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INFORMATION
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1994/05/31
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Document de travail (série numérotée)
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18522
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1
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1
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2020/06/19
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Disclosed
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Comparative investment behavior in China's industrial enterprises
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cost of capital
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