Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/1712
PIRA download icon_1.1View/Download Full Text
Title: Sources of investment inefficiency : the case of fixed-asset investment in China
Authors: Qin, D
Song, H 
Issue Date: Sep-2009
Source: Journal of development economics, Sept. 2009, v. 90, no. 1, p. 94-105
Abstract: This study attempts to measure the inefficiency associated with aggregate investment in a transitional economy. The inefficiency is decomposed into allocative and technical inefficiency based on standard production theory. Allocative inefficiency is measured by the deviation of actual investment from the theoretically desired investment demand. Institutional factors are then identified as part of the driving force of the deviation. The resulting model is applied to Chinese provincial panel data. The main findings are: Chinese investment demand is strongly receptive to expansionary fiscal policies and inter-provincial network effects; the tendency of over-investment remains, even with signs of increasing allocative efficiency and improving technical efficiency.
Keywords: Over-investment
Efficiency
Soft-budget constraint
Publisher: Elsevier
Journal: Journal of development economics 
ISSN: 0304-3878
EISSN: 1872-6089
DOI: 10.1016/j.jdeveco.2008.06.001
Rights: Journal of Development Economics © 2009 Elsevier. The journal web site is located at http://www.sciencedirect.com.
Appears in Collections:Journal/Magazine Article

Files in This Item:
File Description SizeFormat 
2-InvestmentQinSong.pdfPre-published version345.55 kBAdobe PDFView/Open
Open Access Information
Status open access
File Version Final Accepted Manuscript
Access
View full-text via PolyU eLinks SFX Query
Show full item record

Page views

190
Last Week
0
Last month
Citations as of Mar 24, 2024

Downloads

389
Citations as of Mar 24, 2024

SCOPUSTM   
Citations

62
Last Week
0
Last month
0
Citations as of Mar 28, 2024

WEB OF SCIENCETM
Citations

57
Last Week
0
Last month
0
Citations as of Mar 28, 2024

Google ScholarTM

Check

Altmetric


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.