Ownership and Growth

This article suggests how state enterprises can be incorporated into the theoretical and empirical growth literature. Specifically, it shows that if state enterprises are less efficient than private firms, invest less, employ less skilled labor, an...

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Main Authors:	Gylfason, Thorvaldur, Herbertsson, Tryggvi Thor, Zoega, Gylfi
Format:	Journal Article
Language:	English en_US
Published:	Washington, DC: World Bank 2014
Subjects:	ALLOCATION ALLOCATION OF RESOURCES AVERAGE GROWTH BANKING SERVICES BUDGET CONSTRAINT BUDGET CONSTRAINTS CAPITAL STOCK CAPITALISM COMMUNISM COMPETITIVE MARKET CORPORATE OWNERSHIP COST MINIMIZATION DEVELOPING COUNTRIES DEVELOPMENT INDICATORS ECONOMIC ACTIVITY ECONOMIC AFFAIRS ECONOMIC GROWTH ECONOMIC POLICY ECONOMIC STUDIES ECONOMICS EDUCATIONAL ATTAINMENT ELASTICITY EMPIRICAL EVIDENCE EMPIRICAL GROWTH LITERATURE EMPIRICAL RESULTS EMPIRICAL STUDIES ENTERPRISE EMPLOYMENT ENTREPRENEURSHIP ESTIMATION METHOD EXTERNAL DEBT FACTORS OF PRODUCTION FISCAL DEFICITS FOREIGN COMPETITION GDP GOVERNMENT BUDGET GOVERNMENT EXPENDITURE GOVERNMENT OWNERSHIP GROWTH EFFECT GROWTH EQUATION GROWTH PROCESS GROWTH RATE GROWTH REGRESSION GROWTH REGRESSIONS GROWTH THEORY HEALTH CARE HUMAN CAPITAL INCOME INEQUALITY INCORPORATED INCREASES GROWTH INDEPENDENT VARIABLE INEFFICIENT STATE ENTERPRISES INFLATION INVESTMENT RATE INVESTMENT RATIO LABOR FORCE LABOR MARKETS LABOR PRODUCTIVITY LIMITED LOW-INCOME COUNTRIES MANAGERS MONETARY ECONOMICS MONETARY POLICY MONOPOLIST MONOPOLISTS MONOPOLY NEGATIVE EFFECT PER CAPITA GROWTH POINT ESTIMATES POLICY RESEARCH POLITICAL ECONOMY POLITICAL INSTABILITY PRINCIPAL-AGENT PRIVATE ENTERPRISE PRIVATE ENTERPRISES PRIVATE FIRMS PRIVATE INDUSTRY PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE OWNERSHIP PRIVATE SECTOR PRIVATIZATION PRODUCTIVITY PROFIT MAXIMIZATION PROFITABILITY PUBLIC DEBT PUBLIC ENTERPRISE PUBLIC ENTERPRISES PUBLIC OWNERSHIP PUBLIC SECTOR PUBLIC SECTORS RAPID GROWTH REPUBLIC SAVING RATE SHARE OF EMPLOYMENT SKILLED LABOR SOCIALISM STANDARD DEVIATION STATE COFFERS STATE ENTERPRISE STATE ENTERPRISE SECTOR STATE ENTERPRISES STATE FIRMS STATE INVOLVEMENT STATE OWNERSHIP STATE PROPERTY STATE SECTOR STATE-OWNED ENTERPRISES TAX UNEMPLOYMENT UNION WAGES
Online Access:	http://documents.worldbank.org/curated/en/2001/09/17737471/ownership-growth http://hdl.handle.net/10986/17439

id	okr-10986-17439
recordtype	oai_dc
spelling	okr-10986-174392021-04-23T14:03:29Z Ownership and Growth Gylfason, Thorvaldur Herbertsson, Tryggvi Thor Zoega, Gylfi ALLOCATION ALLOCATION OF RESOURCES AVERAGE GROWTH BANKING SERVICES BUDGET CONSTRAINT BUDGET CONSTRAINTS CAPITAL STOCK CAPITALISM COMMUNISM COMPETITIVE MARKET CORPORATE OWNERSHIP COST MINIMIZATION DEVELOPING COUNTRIES DEVELOPMENT INDICATORS ECONOMIC ACTIVITY ECONOMIC AFFAIRS ECONOMIC GROWTH ECONOMIC POLICY ECONOMIC STUDIES ECONOMICS EDUCATIONAL ATTAINMENT ELASTICITY EMPIRICAL EVIDENCE EMPIRICAL GROWTH LITERATURE EMPIRICAL RESULTS EMPIRICAL STUDIES ENTERPRISE EMPLOYMENT ENTREPRENEURSHIP ESTIMATION METHOD EXTERNAL DEBT FACTORS OF PRODUCTION FISCAL DEFICITS FOREIGN COMPETITION GDP GOVERNMENT BUDGET GOVERNMENT EXPENDITURE GOVERNMENT OWNERSHIP GROWTH EFFECT GROWTH EQUATION GROWTH PROCESS GROWTH RATE GROWTH REGRESSION GROWTH REGRESSIONS GROWTH THEORY HEALTH CARE HUMAN CAPITAL INCOME INEQUALITY INCORPORATED INCREASES GROWTH INDEPENDENT VARIABLE INEFFICIENT STATE ENTERPRISES INFLATION INVESTMENT RATE INVESTMENT RATIO LABOR FORCE LABOR MARKETS LABOR PRODUCTIVITY LIMITED LOW-INCOME COUNTRIES MANAGERS MONETARY ECONOMICS MONETARY POLICY MONOPOLIST MONOPOLISTS MONOPOLY NEGATIVE EFFECT PER CAPITA GROWTH POINT ESTIMATES POLICY RESEARCH POLITICAL ECONOMY POLITICAL INSTABILITY PRINCIPAL-AGENT PRIVATE ENTERPRISE PRIVATE ENTERPRISES PRIVATE FIRMS PRIVATE INDUSTRY PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE OWNERSHIP PRIVATE SECTOR PRIVATIZATION PRODUCTIVITY PROFIT MAXIMIZATION PROFITABILITY PUBLIC DEBT PUBLIC ENTERPRISE PUBLIC ENTERPRISES PUBLIC OWNERSHIP PUBLIC SECTOR PUBLIC SECTORS RAPID GROWTH REPUBLIC SAVING RATE SHARE OF EMPLOYMENT SKILLED LABOR SOCIALISM STANDARD DEVIATION STATE COFFERS STATE ENTERPRISE STATE ENTERPRISE SECTOR STATE ENTERPRISES STATE FIRMS STATE INVOLVEMENT STATE OWNERSHIP STATE PROPERTY STATE SECTOR STATE-OWNED ENTERPRISES TAX UNEMPLOYMENT UNION WAGES This article suggests how state enterprises can be incorporated into the theoretical and empirical growth literature. Specifically, it shows that if state enterprises are less efficient than private firms, invest less, employ less skilled labor, and are less eager to adopt new technology, then a large state enterprise sector tends to be associated with slow economic growth, all else remaining the same. The empirical evidence for 1978-92 indicates that, through a mixture of these channels, an increase in the share of state enterprises in employment by one standard deviation could reduce per capita growth by one to two percentage points a year from one country to another. 2014-03-27T20:50:32Z 2014-03-27T20:50:32Z 2001-09 Journal Article http://documents.worldbank.org/curated/en/2001/09/17737471/ownership-growth World Bank Economic Review http://hdl.handle.net/10986/17439 English en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Washington, DC: World Bank Publications & Research :: Journal Article
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ALLOCATION ALLOCATION OF RESOURCES AVERAGE GROWTH BANKING SERVICES BUDGET CONSTRAINT BUDGET CONSTRAINTS CAPITAL STOCK CAPITALISM COMMUNISM COMPETITIVE MARKET CORPORATE OWNERSHIP COST MINIMIZATION DEVELOPING COUNTRIES DEVELOPMENT INDICATORS ECONOMIC ACTIVITY ECONOMIC AFFAIRS ECONOMIC GROWTH ECONOMIC POLICY ECONOMIC STUDIES ECONOMICS EDUCATIONAL ATTAINMENT ELASTICITY EMPIRICAL EVIDENCE EMPIRICAL GROWTH LITERATURE EMPIRICAL RESULTS EMPIRICAL STUDIES ENTERPRISE EMPLOYMENT ENTREPRENEURSHIP ESTIMATION METHOD EXTERNAL DEBT FACTORS OF PRODUCTION FISCAL DEFICITS FOREIGN COMPETITION GDP GOVERNMENT BUDGET GOVERNMENT EXPENDITURE GOVERNMENT OWNERSHIP GROWTH EFFECT GROWTH EQUATION GROWTH PROCESS GROWTH RATE GROWTH REGRESSION GROWTH REGRESSIONS GROWTH THEORY HEALTH CARE HUMAN CAPITAL INCOME INEQUALITY INCORPORATED INCREASES GROWTH INDEPENDENT VARIABLE INEFFICIENT STATE ENTERPRISES INFLATION INVESTMENT RATE INVESTMENT RATIO LABOR FORCE LABOR MARKETS LABOR PRODUCTIVITY LIMITED LOW-INCOME COUNTRIES MANAGERS MONETARY ECONOMICS MONETARY POLICY MONOPOLIST MONOPOLISTS MONOPOLY NEGATIVE EFFECT PER CAPITA GROWTH POINT ESTIMATES POLICY RESEARCH POLITICAL ECONOMY POLITICAL INSTABILITY PRINCIPAL-AGENT PRIVATE ENTERPRISE PRIVATE ENTERPRISES PRIVATE FIRMS PRIVATE INDUSTRY PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE OWNERSHIP PRIVATE SECTOR PRIVATIZATION PRODUCTIVITY PROFIT MAXIMIZATION PROFITABILITY PUBLIC DEBT PUBLIC ENTERPRISE PUBLIC ENTERPRISES PUBLIC OWNERSHIP PUBLIC SECTOR PUBLIC SECTORS RAPID GROWTH REPUBLIC SAVING RATE SHARE OF EMPLOYMENT SKILLED LABOR SOCIALISM STANDARD DEVIATION STATE COFFERS STATE ENTERPRISE STATE ENTERPRISE SECTOR STATE ENTERPRISES STATE FIRMS STATE INVOLVEMENT STATE OWNERSHIP STATE PROPERTY STATE SECTOR STATE-OWNED ENTERPRISES TAX UNEMPLOYMENT UNION WAGES
spellingShingle	ALLOCATION ALLOCATION OF RESOURCES AVERAGE GROWTH BANKING SERVICES BUDGET CONSTRAINT BUDGET CONSTRAINTS CAPITAL STOCK CAPITALISM COMMUNISM COMPETITIVE MARKET CORPORATE OWNERSHIP COST MINIMIZATION DEVELOPING COUNTRIES DEVELOPMENT INDICATORS ECONOMIC ACTIVITY ECONOMIC AFFAIRS ECONOMIC GROWTH ECONOMIC POLICY ECONOMIC STUDIES ECONOMICS EDUCATIONAL ATTAINMENT ELASTICITY EMPIRICAL EVIDENCE EMPIRICAL GROWTH LITERATURE EMPIRICAL RESULTS EMPIRICAL STUDIES ENTERPRISE EMPLOYMENT ENTREPRENEURSHIP ESTIMATION METHOD EXTERNAL DEBT FACTORS OF PRODUCTION FISCAL DEFICITS FOREIGN COMPETITION GDP GOVERNMENT BUDGET GOVERNMENT EXPENDITURE GOVERNMENT OWNERSHIP GROWTH EFFECT GROWTH EQUATION GROWTH PROCESS GROWTH RATE GROWTH REGRESSION GROWTH REGRESSIONS GROWTH THEORY HEALTH CARE HUMAN CAPITAL INCOME INEQUALITY INCORPORATED INCREASES GROWTH INDEPENDENT VARIABLE INEFFICIENT STATE ENTERPRISES INFLATION INVESTMENT RATE INVESTMENT RATIO LABOR FORCE LABOR MARKETS LABOR PRODUCTIVITY LIMITED LOW-INCOME COUNTRIES MANAGERS MONETARY ECONOMICS MONETARY POLICY MONOPOLIST MONOPOLISTS MONOPOLY NEGATIVE EFFECT PER CAPITA GROWTH POINT ESTIMATES POLICY RESEARCH POLITICAL ECONOMY POLITICAL INSTABILITY PRINCIPAL-AGENT PRIVATE ENTERPRISE PRIVATE ENTERPRISES PRIVATE FIRMS PRIVATE INDUSTRY PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE OWNERSHIP PRIVATE SECTOR PRIVATIZATION PRODUCTIVITY PROFIT MAXIMIZATION PROFITABILITY PUBLIC DEBT PUBLIC ENTERPRISE PUBLIC ENTERPRISES PUBLIC OWNERSHIP PUBLIC SECTOR PUBLIC SECTORS RAPID GROWTH REPUBLIC SAVING RATE SHARE OF EMPLOYMENT SKILLED LABOR SOCIALISM STANDARD DEVIATION STATE COFFERS STATE ENTERPRISE STATE ENTERPRISE SECTOR STATE ENTERPRISES STATE FIRMS STATE INVOLVEMENT STATE OWNERSHIP STATE PROPERTY STATE SECTOR STATE-OWNED ENTERPRISES TAX UNEMPLOYMENT UNION WAGES Gylfason, Thorvaldur Herbertsson, Tryggvi Thor Zoega, Gylfi Ownership and Growth
description	This article suggests how state enterprises can be incorporated into the theoretical and empirical growth literature. Specifically, it shows that if state enterprises are less efficient than private firms, invest less, employ less skilled labor, and are less eager to adopt new technology, then a large state enterprise sector tends to be associated with slow economic growth, all else remaining the same. The empirical evidence for 1978-92 indicates that, through a mixture of these channels, an increase in the share of state enterprises in employment by one standard deviation could reduce per capita growth by one to two percentage points a year from one country to another.
format	Journal Article
author	Gylfason, Thorvaldur Herbertsson, Tryggvi Thor Zoega, Gylfi
author_facet	Gylfason, Thorvaldur Herbertsson, Tryggvi Thor Zoega, Gylfi
author_sort	Gylfason, Thorvaldur
title	Ownership and Growth
title_short	Ownership and Growth
title_full	Ownership and Growth
title_fullStr	Ownership and Growth
title_full_unstemmed	Ownership and Growth
title_sort	ownership and growth
publisher	Washington, DC: World Bank
publishDate	2014
url	http://documents.worldbank.org/curated/en/2001/09/17737471/ownership-growth http://hdl.handle.net/10986/17439
_version_	1764433149864968192

Ownership and Growth

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