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Optimal withdrawing path of state-owned capital
in economic transition A dynamic model |
| XIE Ming |
| xiko2000@hotmail.com |
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Corresponding Author(s):
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.
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Issue Date: 05 March 2008
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