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Discussion Paper Details

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Title: A Multi-Task Theory of the State Enterprise Reform

Author(s): Chong-En Bai, David Daokui Li, Zhigang Tao and Yijiang Wang

Publication Date: May 2001

Keyword(s): Dual-Track Reform, Multi-Task, Social Stability and Unemployment

Programme Area(s): Transition Economics

Abstract: During transition, maintaining employment and providing a social safety net for the unemployed are important to social stability, which in turn is crucial for the productivity of the whole economy. Because independent institutions for social safety are lacking and firms with strong profit incentives have little incentive to promote social stability due to its public good nature, state-owned enterprises (SOEs) are needed to continue their role in providing social welfare. Charged with the multi-tasks of efficient production as well as social welfare provision, SOEs continue to be given low profit incentives and consequently, their financial performance continues to be poor.

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Bibliographic Reference

Bai, C, Li, D, Tao, Z and Wang, Y. 2001. 'A Multi-Task Theory of the State Enterprise Reform'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=2781