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Das (Wasted) Kapital.
Based on a survey that we designed and that covers a stratified random sample of 12,400 firms in 120 cities in China with firm-level accounting information for 2002-2004, this paper examines the presence of systematic distortions in capital allocation that result in uneven marginal returns to capita...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington :
International Monetary Fund,
2007.
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| Colección: | IMF Working Papers.
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| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- I. Introduction; II. Conceptual Framework; III. Data; IV. Statistical results; V. Conclusion; References; Tables; 1. Firm Classification by Actual Ownership versus Registration; 2. Sources of Financing for Working Capital by Ownership Type; 3. Sources of Financing for Investment by Ownership Type; 4. Summary Statistics of VA/K Ratio; 5. Average Revenue Product of Capital and Ownership; 6. Average Returns to Capital: Adding Firm Size [ln(employment)]; 7. Summary Statistics of Marginal Revenue Product of Capital; 8. Marginal Revenue Product of Capital ((VA- wL)/K) and Ownership.
- 9. Marginal Returns to Capital ((VA
- wL)/K) Adding Firm Size [1n(employment}10. VA Explaining the City Fixed Effects from 1n((VA-wL)/K); 11. Sector Fixed Effects from Regression ln((VA-wL)/K); 12. Summary Stat of VA/L (unit: thousand yuans); 13. Average Revenue Product of Labor; 14. Gains from an Optimal Reallocation of Capital; Figures; 1. Scatter Plot of City Fixed Effects of ln(VA/K) on Eight Ownerships; 2. Scatter Plot of Sector Coefficients of ln(VA/K) on Eight Ownerships; 3. Sector Fixed Effects, 2004 vs. 2003; 4. Sector Fixed Effects, 2003 vs. 2002; Appendixes.