经济系马弘合作论文被国际顶级学术期刊《经济与统计评论》(Review of Economics and Statistics)接受
Berkowitz, Daniel, 马弘, and Shuichiro Nishioka, Recasting the Iron Rice Bowl: The Evolution of China's State Owned Enterprises, Review of Economics and Statistics, forthcoming.
Following the enactment of reforms in the mid-1990s China's state owned enterprises (SOEs) became more profitable. Using theoretical insights from Azmat, Manning and Van Reenen (2012) and Karabarbounis and Neiman (2014) and econometric methods in De Loecker and Warzynski (2012) this paper finds that SOE restructuring was nevertheless limited. This is because SOE profitability gains in part reflect that they were under less political pressure to hire excess labor and also their cost of capital fell and their capital-labor elasticity of substitution generally exceeded unity. Moreover, SOE productivity lagged foreign and private firms.