{"text_format":"2","workbook":"xls","n_sheets":1,"sheets":["report2"],"not_rendered":{"charts":0,"images":0,"macros":0,"external_links":1,"defined_names":3,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"run_cost":"one","rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900","formulas":"cached_only"}

{"sheet":"report2","index":0,"n_rows":76,"n_cols":5,"rows_kept":76,"cut":false,"hidden":false,"merged":[[0,2,0,3],[0,4,0,5],[1,2,1,3],[1,4,1,5],[2,2,2,3],[3,2,3,3],[4,2,4,3],[5,2,5,3],[6,2,6,3],[7,2,7,3],[8,2,8,3],[9,2,9,3],[11,2,11,3],[11,4,11,5],[12,2,12,3],[12,4,12,5],[13,2,13,3],[13,4,13,5],[14,2,14,3],[15,2,15,3],[16,2,16,3],[17,2,17,3],[18,2,18,3],[20,2,20,3],[20,4,20,5],[21,2,21,3],[21,4,21,5],[22,2,22,3],[22,4,22,5],[23,2,23,3],[24,2,24,3],[33,2,33,3],[34,2,34,3],[35,2,35,3],[36,2,36,3],[37,2,37,3],[67,2,67,3],[68,2,68,3],[73,2,73,3]],"flags":["formulas_cached_only"]}
[null,"1.","Record Nr.",null,"UNINA990000517430403321"]
[null,null,"Titolo",null,"The student edition of MATLAB : for MS-DOS personal computers"]
[null,null,"Pubbl/distr/stampa",null,"Englewood Clift : Prentice-Hall, 1992"]
[null,null,"ISBN",null,"0-13-855974-0"]
[null,null,"Descrizione fisica",null,"494 p. : ill. ; 23 cm"]
[null,null,"Disciplina",null,"519.4'0285"]
[null,null,"Locazione",null,"DINEL"]
[null,null,"Collocazione",null,"10 B II 552"]
[null,null,"Lingua di pubblicazione",null,"Inglese"]
[null,null,"Formato",null,"Materiale a stampa"]
[null,null,null,"Livello bibliografico","Monografia"]
[null,"2.","Record Nr.",null,"UNISA990001324400203316"]
[null,null,"Autore",null,"Politecnico"]
[null,null,"Titolo",null,"Inaugurazione anno accademico 1954-1955 / Politecnico di Milano"]
[null,null,"Pubbl/distr/stampa",null,"Milano : Ed. Politecnico"]
[null,null,"Descrizione fisica",null,"54 p."]
[null,null,"Collocazione",null,"Varie Misc.2/15"]
[null,null,"Lingua di pubblicazione",null,"Italiano"]
[null,null,"Formato",null,"Materiale a stampa"]
[null,null,null,"Livello bibliografico","Monografia"]
[null,"3.","Record Nr.",null,"UNINA9910959024503321"]
[null,null,"Autore",null,"Dollar David"]
[null,null,"Titolo",null,"Das (Wasted) Kapital : : Firm Ownership and Investment Efficiency in China / / David Dollar, Shang-Jin Wei"]
[null,null,"Pubbl/distr/stampa",null,"Washington, D.C. : , : International Monetary Fund, , 2007"]
[null,null,"ISBN",null,"9786613826268"]
[{"$nulls":4},"9781462321537"]
[{"$nulls":4},"1462321534"]
[{"$nulls":4},"9781452722887"]
[{"$nulls":4},"1452722889"]
[{"$nulls":4},"9781283513814"]
[{"$nulls":4},"1283513811"]
[{"$nulls":4},"9781451910261"]
[{"$nulls":4},"1451910266"]
[null,null,"Edizione",null,"[1st ed.]"]
[null,null,"Descrizione fisica",null,"1 online resource (40 p.)"]
[null,null,"Collana",null,"IMF Working Papers"]
[null,null,"Disciplina",null,"332.11"]
[null,null,"Soggetti",null,"Business enterprises - China - Finance - Econometric models"]
[{"$nulls":4},"Corporations - China - Finance"]
[{"$nulls":4},"Aggregate Human Capital"]
[{"$nulls":4},"Aggregate Labor Productivity"]
[{"$nulls":4},"Business Taxes and Subsidies"]
[{"$nulls":4},"Corporate Finance"]
[{"$nulls":4},"Economic theory"]
[{"$nulls":4},"Employment"]
[{"$nulls":4},"Foreign corporations"]
[{"$nulls":4},"Income economics"]
[{"$nulls":4},"Industries: Manufacturing"]
[{"$nulls":4},"Industry Studies: Manufacturing: General"]
[{"$nulls":4},"Intergenerational Income Distribution"]
[{"$nulls":4},"International Business"]
[{"$nulls":4},"Labor economics"]
[{"$nulls":4},"Labor Economics: General"]
[{"$nulls":4},"Labor"]
[{"$nulls":4},"Labour"]
[{"$nulls":4},"Macroeconomics"]
[{"$nulls":4},"Manufacturing industries"]
[{"$nulls":4},"Manufacturing"]
[{"$nulls":4},"Multinational Firms"]
[{"$nulls":4},"Multinationals"]
[{"$nulls":4},"Public finance & taxation"]
[{"$nulls":4},"State equity participation"]
[{"$nulls":4},"Taxation"]
[{"$nulls":4},"Unemployment"]
[{"$nulls":4},"Wages"]
[{"$nulls":4},"China Economic conditions 20th century"]
[{"$nulls":4},"China, People's Republic of"]
[null,null,"Lingua di pubblicazione",null,"Inglese"]
[null,null,"Formato",null,"Materiale a stampa"]
[null,null,null,"Livello bibliografico","Monografia"]
[null,null,null,"Note generali","At head of title: Research Department."]
[{"$nulls":4},"\"January 2007.\""]
[null,null,null,"Nota di bibliografia","Includes bibliographical references (p. 19)."]
[null,null,"Nota di contenuto",null,"Contents; I. Introduction; II. Conceptual Framework; III. Data; IV. Statistical results; V. Conclusion; References; Tables; 1. Firm Classification by Actual Ownership versus Registration; 2. Sources of Financing for Working Capital by Ownership Type; 3. Sources of Financing for Investment by Ownership Type; 4. Summary Statistics of VA/K Ratio; 5. Average Revenue Product of Capital and Ownership; 6. Average Returns to Capital: Adding Firm Size [ln(employment)]; 7. Summary Statistics of Marginal Revenue Product of Capital; 8. Marginal Revenue Product of Capital ((VA- wL)/K) and Ownership"]
[{"$nulls":4},"1. City Fixed Effects from Regression of ln(VA/K)2. City Fixed Effects from Regression of ln(VA/K)"]
[null,null,null,"Sommario/riassunto","Based on a survey that we designed and that covers a stratified random sample of 12,400 firms in 120 cities in China with firm-level accounting information for 2002-2004, this paper examines the presence of systematic distortions in capital allocation that result in uneven marginal returns to capital across firm ownership, regions, and sectors. It provides a systematic comparison of investment efficiency among wholly and partially state-owned, wholly and partially foreignowned, and domestic privately owned firms, conditioning on their sector, location, and size characteristics. It finds that even after a quarter-of-century of reforms, state-owned firms still have significantly lower returns to capital, on average, than domestic private or foreign-owned firms. Similarly, certain regions and sectors have consistently lower returns to capital than other regions and sectors. By our calculation, if China succeeds in allocating its capital more efficiently, it could reduce its investment intensity by 5 percent of GDP without sacrificing its economic growth (and hence deliver a greater improvement to its citizens' living standard)."]