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List of Figures and Tables | |
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Preface | |
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Introduction: The Transformation of China's Economy | |
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Historical Background and General Survey | |
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Economic Lessons from History | |
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Introduction | |
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Significant Events in Major Historical Dynasties | |
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The Republic of China, 1911- | |
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Summary of Historical Lessons | |
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Experiments with Planning and Economic Disruptions | |
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The Communist Party Rises to Power | |
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Historical Review: 1949-78 | |
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A Model of the Chinese Planned Economy | |
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The Behavior of Economic Units in a Planned Economy | |
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Output Planning in Theory and Practice | |
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Organization and Administration of Economic Planning | |
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Economic Reform up to the Mid-1990s | |
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Why Economic Reform Started in 1978 | |
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Agriculture | |
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Reform of State-owned Enterprises | |
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Price Reform | |
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The Banking System | |
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Foreign Trade and Investment | |
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The Nonstate Sectors | |
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Institutional Infrastructure | |
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Reform Policies Similar to Those of Taiwan | |
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Reasons for the Success of China's Economic Reform | |
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Summary | |
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China's Geography | |
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Further Reform: Problems and Prospects | |
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Introduction | |
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Enterprise Reform | |
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Banking Reform | |
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Foreign Trade and Investment during the Asian Financial Crisis | |
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The Impact of WTO Membership | |
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Prospects for Reform | |
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Analysis of the Macroeconomy | |
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Economic Growth | |
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The Neoclassical Model of Economic Growth | |
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Data on Output, Capital, and Labor | |
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A Review of Regression Analysis | |
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Estimating Production Functions for China | |
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Use of the Neoclassical Growth Model to Forecast GDP | |
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How Large will the Chinese Economy be in 2020? | |
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Economic Fluctuations | |
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The Multiplier-Accelerator Model of Economic Fluctuations | |
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Dynamic Properties of the Multiplier-Accelerator Model | |
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An Econometric Method for Estimating Parameters of Linear Stochastic Equations | |
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Estimating a Multiplier-Accelerator Model of the Chinese Economy | |
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Econometric Models of the Chinese Economy | |
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Macroeconomic Policies | |
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Introduction | |
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Monetary Policy | |
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Estimating a Dynamic Equation to Explain the Inflation Rate | |
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Basic Facts about Government Revenue and Expenditure | |
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Fiscal Policy | |
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The Effects of Political Movements on the Macroeconomy | |
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Specification of a Dynamic Optimization Model of the Chinese Economy | |
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The Solution of the Dynamic Optimization Problem | |
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Statistical Estimation | |
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Measuring the Effects of Two Political Events | |
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Conclusions | |
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Topics in Economic Development | |
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Consumption | |
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Trends in Per Capita Consumption | |
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Household Expenditure Patterns | |
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Rural Per Capita Consumption Expenditures in 1998 by Province | |
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Consumption of Housing in Rural and Urban Areas | |
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Forecasting Demand for Computers | |
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Western Development and Environmental Policies | |
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Inequality in Per Capita Consumption and East-west Disparity | |
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Developing the Western Part of China | |
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Environmental Policies | |
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A Study of Industrial Pollution | |
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Population | |
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The Role of Population and Human Capital in Economic Development | |
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Chinese Population and its Rate of Growth | |
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Population Policy | |
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Evaluation of China's Population Policy | |
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Economic Explanation of the Birth Rate | |
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Human Capital | |
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The Importance of Human Capital and its Measurement | |
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Labor Supply and Demand | |
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Investment in Human Capital | |
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Measuring the Rates of Return to Schooling in China | |
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Health Services | |
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Analysis of Individual Sectors | |
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The Banking and Financial System | |
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Commercial Banks | |
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The People's Bank | |
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Factors Affecting the Functioning of the Banking System | |
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Possible Weaknesses of the System | |
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Possible Directions of Reform | |
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The Financial Condition of Commercial Banks and the Bad-loan Problem | |
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Other Financial Institutions | |
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The Role of the Chinese Government in Reforming the Financial System | |
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Shanghai Stock Price Determination | |
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Introduction | |
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A Model of Stock Price Determination | |
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Empirical Findings from the Shanghai Stock Exchange | |
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Comparison with Findings for Hong Kong and New York Stocks | |
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Concluding Comments | |
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The Behavior of State Enterprises | |
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Organization of a State Enterprise under Central Planning | |
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Planning and Operations of a Large-scale State Enterprise | |
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A Simple Model of a State Enterprise under Central Planning | |
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A Simple Model of a State Enterprise after Initial Reform | |
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State Enterprise Restructuring in the Late 1990s and its Effects on Enterprise Behavior | |
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The Nonstate Sectors | |
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Relative Growth of Nonstate Sectors | |
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Private Enterprises Prior to 1949 | |
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Economic Conditions for the Growth of Township and Village Enterprises | |
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Econometric Measurement of the Relative Efficiency of State Enterprises and TVEs | |
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Characteristics of a Free-market Economy | |
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Characteristics of the Chinese Market Economy | |
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Foreign Trade | |
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Some Statistics of China's Foreign Trade | |
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Explanation of Trading Patterns under Free Trade | |
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The Determination of Foreign-exchange Rates | |
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China's Foreign Trade Policy | |
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Chinese Foreign Trade Problems in the Early 1980s | |
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Foreign Investment | |
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The Role of Foreign Investment | |
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Historical Developments | |
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The State of Foreign Direct Investment (FDI) as of 1999 | |
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Policies for the Regulation of Foreign Investment | |
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Opportunities and Problems for Foreign Investors | |
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How Attractive is China for Foreign Investment? | |
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The Impact of WTO Membership on Foreign Investment | |
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A Proposal to Increase Foreign Investment from Taiwan | |
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Studies of Economic Institutions and Infrastructure | |
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Use or Misuse of Assets | |
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Introduction | |
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Laws of Asset Management | |
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Managing One's Own Person | |
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Managing Physical Assets | |
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Managing Collections of Assets under the Responsibility System | |
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Concluding Comments | |
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The Legal System and the Role of Government | |
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The Legal System prior to 1949 | |
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The Legal System since 1949 | |
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The Role of the Legal System in a Market Economy | |
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The Economic Role of Government | |
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The Government's Decision Process | |
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The Education System and Policy | |
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The Education System prior to 1949 | |
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The Education System after 1949 | |
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Education Policy | |
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Economics Education | |
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Concluding Comments | |
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Taking Stock and Looking Ahead | |
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Taking Stock | |
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Prospects for the Chinese Economy up to 2020 | |
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Conclusion: Lessons for the Study of Economic Transformation | |
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Index | |