基金资助:ratio of state-owned capital, economic transition, optimal path
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This paper presents a dynamic model based on the utility maximum
decisions of both the government and private sectors to study the optimal
withdrawing path of state-owned capital in economic transition. Numerical
simulation shows that: (1) an optimal transition path still exists when treating
government and private sectors separately, (2) when the transition cost is higher
than its critical value, the economy will never start a transition by itself. In
addition, this analysis offers theoretical supports for some reform policies
adopted by governments during transition.
引用本文:
. [J]. Frontiers of Economics in China, 2008, 3(1): 38-62.
School of Economics, Fudan University, Shanghai 200100, China. Optimal withdrawing path of state-owned capital
in economic transition A dynamic model. Front. Econ. China, 2008, 3(1): 38-62.