The DOI matches its Crossref record; 11 of the 11 references it cites were found in a registry or an index.
Productivity Growth and Firm Ownership: An Analytical and Empirical Investigation
Abstract
We focus on the effect of state versus private ownership on the rates of firm-specific productivity growth and cost decline by developing a model of endogenous, firm-specific productivity growth and testing its implications against panel data on 23 international airlines of varying levels of state ownership over the period 1973-83. Our model and empirical results show that state ownership can lower the long-run annual rate of productivity growth or cost decline, but not necessarily their levels in the short run. Observed level differences in productive efficiency across private and state-owned firms may thus be a function of the age distribution of the firms being compared. These results appear to be independent of whether the firms operate under apparently more or less competitive or regulated markets and whether they differ in production scales. The analysis offers new insights concerning the recent trend toward privatizing state-owned enterprises that has been observed in many countries.
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Cites
On the mechanics of economic development
Lucas, R. E. (1988) · Journal of Monetary Economics · doi:10.1016/0304-3932(88)90168-7 · Cited by 24,085
Management ownership and market valuation
Morck, R., Shleifer, A., & Vishny, R. W. (1988) · Journal of Financial Economics · doi:10.1016/0304-405x(88)90048-7 · Cited by 6,895
Human Capital, Fertility, and Economic Growth
Becker, G. S., Murphy, K. M., & Tamura, R. (1990) · Journal of Political Economy · doi:10.1086/261723 · Cited by 1,988
Multilateral Comparisons of Output, Input, and Productivity Using Superlative Index Numbers
Caves, D. W., Christensen, L. R., & Diewert, W. E. (1982) · The Economic Journal · doi:10.2307/2232257 · Cited by 1,570
BEHAVIOR OF THE FIRM UNDER REGULATORY CONSTRAINT
Averch, H. A., & Johnson, L. L. (2016) · American Economic Review · Cited by 1,288
Boardman, A. E., & Vining, A. R. (1989) · The Journal of Law and Economics · doi:10.1086/467167 · Cited by 1,132
Privatization: An Economic Analysis.
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Intergenerational Trade, Longevity, and Economic Growth
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Self-citationCaves, D. W., & Christensen, L. R. (1980) · Journal of Political Economy · doi:10.1086/260916 · Cited by 410
(1986) · Transportation Research Part A: General · doi:10.1016/0191-2607(86)90028-2 · Cited by 339
Cited by
State versus private ownership
Shleifer, A. (1998) · Journal of Economic Perspectives · doi:10.1257/jep.12.4.133 · Cited by 1,266
Oum, T. H., Yan, J., & Yu, C. (2008) · Journal of Urban Economics · doi:10.1016/j.jue.2008.03.001 · Cited by 315
Oum, T. H., Adler, N., & Yu, C. (2006) · Journal of Air Transport Management · doi:10.1016/j.jairtraman.2005.11.003 · Cited by 295
Villalonga, B. (2000) · Journal of Economic Behavior & Organization · doi:10.1016/s0167-2681(00)00074-3 · Cited by 293
Metadata
- Authors
- Ehrlich, I., Gallais-Hamonno, G., Liu, Z., & Lutter, R.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 1994-10
- Volume
- 102
- Issue
- 5
- Pages
- 1006-1038
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2011907999
- Cited by
- 273
- References
- 11
- FWCI
- 8.05
- Type
- journal article
- Language
- en
- Open access
- closed
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