所属栏目:公司金融/公司治理

Institutions and Social Attitudes: The Origin and Impact of State Ownership Preferences in China
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发布日期:2024年09月14日 上次修订日期:2024年09月14日

摘要

This study examines the enduring effects of China’s planned economy on contemporary social attitudes. By leveraging spatial disparities in the historical distribution of state-owned enterprises and external shocks such as the First Five-Year Plan and the Third Front Construction movement, we find that a one percentage point increase in the historical SOE proportion of industrial output corresponds with a 0.57% to 0.89% increase in the contemporary preference for state-owned sectors. The results are robust after controlling the contemporary SOE employment share, and this effect does not apply to the younger generation born after the marketization reform. Furthermore, we provide evidence that city-level state ownership preferences significantly impact the likelihood of SOEs receiving subsidies, with this effect notably amplified in cities governed by locally-born leaders, but the share of locally-born leaders has been trending down.
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PENGFEI LI; MING LU Institutions and Social Attitudes: The Origin and Impact of State Ownership Preferences in China (2024年09月14日) https://www.cfrn.com.cn/lw/15908.html

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