Structural Change, Performance and Demand on Resources
Edited by Ligang Song and Haimin Liu
Chapter 5: The technical efficiency of China’s large and medium iron and steel enterprises: a firm- level analysis
Yu Sheng and Ligang Song
The expansion of China’s iron and steel industry since the 1990s has been driven largely by the strong domestic demand resulting from the accelerated pace of urbanization and industrialization. A key question is whether the rapid expansion of the industry is also accompanied by any significant gain in efficiency in the large and medium state-owned enterprises (SOEs) through institutional and ownership reform. The question is significant in that the improvement of productivity in the industry could be an indication that there has been some impact on those SOEs from the series of marketization reforms in the industry including privatization and corporate restructuring. To demonstrate that these reforms work in the industry, it is important to connect the improvement in SOEs’ firm-level productivity with the marketization reform from an empirical perspective. This is the task of this chapter.
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