
Contents
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3.1 Introduction 3.1 Introduction
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3.2 Labour Productivity 3.2 Labour Productivity
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3.3 Reforming Labour 3.3 Reforming Labour
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3.4 Measuring Labour Productivity 3.4 Measuring Labour Productivity
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3.5 Determining Labour Productivity 3.5 Determining Labour Productivity
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3.6 Allocative versus Technical Efficiency 3.6 Allocative versus Technical Efficiency
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3.7 Corporate Restructuring 3.7 Corporate Restructuring
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3.8 Incorporation and Ownership Reform 3.8 Incorporation and Ownership Reform
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3.9 Data 3.9 Data
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3.9.1 Panel Dataset 3.9.1 Panel Dataset
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3.9.2 Ownership Forms 3.9.2 Ownership Forms
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3.10 Drivers of Firm Performance 3.10 Drivers of Firm Performance
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3.11 Implications for Industrial Output 3.11 Implications for Industrial Output
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3.12 Conclusion 3.12 Conclusion
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3 Neoclassical Growth: Labour Productivity and Corporate Restructuring
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Published:April 2013
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Abstract
This chapter shows that the slowdown in TFP from the mid-1990s is associated with the slowing of one-off productivity gains from factor reallocation. By the end of the 1990s and 2000s, much of the shift from SOEs to private firms had taken place, including moving workers as well as corporate restructuring of former SOEs into shareholding firms and granting legal recognition to private firms. These reforms, though, hold the key for sustained productivity gains as more of China’s economic growth will depend on increasing labour and firm productivity through rewarding output and better legal protection of commercial activities. The chapter will first examine what drives labour productivity and then analyse the impact of corporate restructuring on capital productivity.
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