JOURNAL ARTICLE

Total factor productivity and state ownership: Evidence from China's 2008 stimulus package.

  • Published In: Manchester School (1463-6786), 2024, v. 92, n. 3. P. 246 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Han, Shi‐zhuan; Duan, Taotao; Gao, Han; Zhou, Tianhang; Li, Jie 3 of 3

Abstract

We examine the impact of China's economic stimulus plan in 2008 on the total factor productivity (TFP) of China's listed firms. We hypothesize that firms operating in regions characterized by greater resource misallocation would experience a more pronounced decline in TFP following the implementation of the stimulus plan. To gauge the extent of resource misallocation, we employ the proportion of state‐owned enterprises (SOEs) as a measure. Our findings reveal a substantial decrease in TFP for firms located in provinces with higher SOE shares compared to those in provinces with lower SOE shares, amounting to approximately 9.2%. These results highlight the unintended policy consequence of the stimulus plan for firm‐level productivity in China. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Manchester School (1463-6786). 2024/06, Vol. 92, Issue 3, p246
  • Document Type:Article
  • Subject Area:Politics and Government
  • Publication Date:2024
  • ISSN:1463-6786
  • DOI:10.1111/manc.12466
  • Accession Number:176387876
  • Copyright Statement:Copyright of Manchester School (1463-6786) is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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