Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/1712
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dc.contributor.authorQin, Den_US
dc.contributor.authorSong, Hen_US
dc.date.accessioned2014-12-11T08:28:40Z-
dc.date.available2014-12-11T08:28:40Z-
dc.date.issued2009-09-
dc.identifier.citationJournal of development economics, Sept. 2009, v. 90, no. 1, p. 94-105en_US
dc.identifier.issn0304-3878-
dc.identifier.urihttp://hdl.handle.net/10397/1712-
dc.description.abstractThis 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.en_US
dc.description.sponsorshipPublic Policy Research Instituteen_US
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.relation.ispartofJournal of development economicsen_US
dc.rightsJournal of Development Economics © 2009 Elsevier. The journal web site is located at http://www.sciencedirect.com.en_US
dc.subjectOver-investmenten_US
dc.subjectEfficiencyen_US
dc.subjectSoft-budget constrainten_US
dc.titleSources of investment inefficiency : the case of fixed-asset investment in Chinaen_US
dc.typeJournal/Magazine Articleen_US
dc.identifier.spage94-
dc.identifier.epage105-
dc.identifier.volume90-
dc.identifier.issue1-
dc.identifier.doi10.1016/j.jdeveco.2008.06.001-
dc.identifier.isiWOS:000267501900009-
dc.identifier.scopus2-s2.0-67349089073-
dc.identifier.eissn1872-6089-
dc.identifier.rosgroupidr48517-
dc.description.ros2009-2010 > Academic research: refereed > Publication in refereed journal-
dc.description.oapreprint_postprint-
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