We look at the soft budget constraint literature in the context of the state-led restructuring of state-owned enterprises (SOE) in which institutions are both regulators charged with constraining SOE restructuring outcomes and part owners of the SOEs concerned. Such institutional agents constitute a set of what we term “owner—regulators (OR)”. These economic agents may have political problems as regulators — as suggested by the Chicago School approach to economic regulation. They can also have ownership problems — here defined by literature on the theory of the firm and on vertical structure. In this light the incentives associated with the imposition of hard budget constraints may be by themselves insufficient to radically change owner—regulator behaviour. If the implementation of such constraints does not take into account the factors highlighted by this paper, hard budget constraints are likely to be either counterproductive or irrelevant.
After the collapse of the Berlin Wall it was conceivable that China would follow the path towards the cessation of communism, as it happened in the successor states of the USSR, Yugoslavia and the East European satellite states of the Soviet Union. But the Communist Party of China (CPC) managed to retain control and avoided the Russian and East European collapse, a full-fledged transition to capitalism and liberal democracy. For a while, China was on its way to market capitalism with the possible outcome to turn eventually into a liberal democracy. This was a rocky road, with backs-and-forth. But the shift to liberal democracy did not happen. The massacre at Tiananmen Square in 1989, approved by Deng Xiaoping, was a more alarming setback than the contemporary Western observers were willing to realize. This paper presents an interpretation of the changes under present Chinese leader, Xi Jinping in a post-communist comparative perspective.
This essay joins in the international controversy about the nature and sustainability of the economic system in China. While official ideology continues to stick to the concept of ‘socialist market economy,’ albeit with changing contents, international observers are split. One group considers China as a de facto market economy, which is in line with the top-down tradition of ruling in the region. Others consider it as a sui generis system. And a third line takes it as yet another case of hybrid regime which proliferated globally in the new millennium. I try to create a link between these readings and the empirics of Chinese growth. This may help interpret the slowdown, exacerbated by the COVID-19 epidemics on Chinese output.
At the onset of the mass protests in 2010–2011, many politicians and experts suggested that Arab countries could learn from the experiences of the post-communist transition of the early 1990s. However, the geopolitical, historical, and socio-economic context of the Arab transition was different in many respects from that of the former Soviet bloc countries 20 years earlier. These differences became even more obvious five years later, in early 2016, when most Arab transition attempts ended either in a new wave of authoritarianism, or protracted bloody conflicts. Nonetheless, there are some common lessons to be learnt from the history of both transitions. They concern interrelations between the political and economic transition, the role of institutional checks and balances and the rule of law, the speed of reforms, the dangers of ethnic and sectarian conflicts, and the role of external support.
., Kiss, H., Kost-Alimova, M., Zabarovsky, E. R., Standridge, E., Klein, G., Imreh, S.: Human/mouse microcell hybrid based elimination test reduces the putative tumor suppressor region at 3p21.3 to 1.6 cM. Genes Chromosomes Cancer 18 , 200-11 (1997
Authors:Marieta Muresan-Pop, Irina Kacsó, Carmen Tripon, Z. Moldovan, Gh Borodi, S. Simon, and I. Bratu
parameters: a = 7.006 Å, b = 13.017 Å, c = 16.959 Å, and β = 107.17°. The unit cell volume is V = 1477 Å 3 . The most probable space group obtained from reflections systematic absences is P21/ c . The calculated density, if we consider four
Authors:M. Caira, A. Foppoli, M. Sangalli, L. Zema, and F. Giordano
The thermal and structural characteristics of two crystal forms of ambroxol, (trans-((amino-2-dibromo-3,5-benzyl)amino)-4-cyclohexanol), a drug with remarkable mucolytic and expectorant properties marketed
in several drug products, were investigated. Form II (m.p. 92.4C) is obtained by spontaneous cooling from a hot water/ethanol solution while Form I (m.p. 99.5C) slowly separates from the mother liquor. The two forms can be identified by PXRD and DSC analyses. On the basis
of both thermal and structural data the thermodynamic relationship of enantiotropy was deduced. No metastable (Form I)?stable
(Form II) conversion was observed upon storage at ambient conditions. Form I crystallizes in the space group P21/n (alternative setting of P21/c) with Z=8. Form II crystallizes in the space group P21/c with Z=4 and a significantly different crystal packing arrangement from that in Form I. A third crystalline modification, Form III
(space group P21/c with Z=16) was detected on cooling a single crystal of Form I down to -70C. On warming to ambient temperature Form III was found
to revert to Form I. This reversible single crystal to single crystal transition was structurally characterised and found
to involve subtle changes in the types and extent of molecular disorder as well as the hydrogen bonding arrangement.
Authors:S. Iijima, F. Mizutani, M. Watanabe, and M. Sato
A hexacyanoferrate(III) salt [N(C2H5)4]3[Fe(CN)6].5H2O (1)crystallized in a monoclinic space group (P21, Z = 2) with the nearest neighboring Fe-Fe distance of 8.20 Åound 1 distinctly showed magnetically-relaxed 57Fe Mössbauer spectra below ca. 40 K. The Mössbauer line width at 4.2 K was much larger than that of K3[Fe(CN)6], which is ascribable to the long Fe-Fe distance in 1. Further broadened spectra were observed for [N(n-C4H9)4]3[Fe(CN)6].xH2O (2).
Authors:M. Férid, D. Ben Hassen-Chehimi, N. Kbir-Ariguib, and M. Trabelsi-Ayedi
The NaPO3−Pr(PO3)3 system was studied by microdifferential thermal analysis (DTA), IR and X-ray diffraction spectroscopies. The only new compound
observed in the system is NaPr(PO3)4, which melts incongruently at 1149 K. A eutectic appears at 5% Pr(PO3)3 at 901 K. The new compound NaPr(PO3)4 was characterized by means of powder X-ray diffraction and IR absorption spectroscopy. NaPr(PO3)4 is a NaLa(PO3)4 isotype; it crystallizes in the monoclinic system P21/c witha=12.328(7),b=13.130(5),c=7.231(5) Å, β=126°, 18(5),Z=4,V=945 Ȧ3.