China Miracle Development Strategy and Economic Reform

Name: China Miracle Development Strategy and Economic Reform
Price: 6.89 USD
Availability: InStock
ISBN: 9789622019850

ISBN-10: 9622019854

ISBN-13: 9789622019850

Edition: 2nd 2003 (Revised)

Authors: Fang Cai, Zhou Li, Justin Yifu Lin, Justin Yifu Lin

List price: $22.50

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Description:

The tremendous success of China's economic reform, in contrast with the vast difficulties encountered by the former Soviet Union and Eastern European countries in their transition, has attracted worldwide attention. Using a historical, comparative and analytic approach grounded in mainstream economics, the authors develop a consistent and rational framework of state-owned enterprises and individual agents to analyze the internal logic of the traditional Chinese planning system. They also explain why the Chinese economy grew slowly before the market-oriented reform in 1979 but became one of the fastest growing economies afterwards, and why the vigor/chaos cycle became part of China's reform…

Book details

List price: $22.50
Edition: 2nd
Copyright year: 2003
Publisher: Chinese University of Hong Kong, The
Publication date: 7/11/2003
Binding: Paperback
Pages: 432
Size: 5.51" wide x 8.27" long x 1.00" tall
Weight: 1.188
Language: English

Justin Yifu Lin is professor and founding director of the China Center for Economic Research (CCER) at Peking University and professor at the Hong Kong University of Science and Technology. His articles have appeared in various academic journals such as American Economic Reviewand Journal of Political Economy.Fang Cai is research fellow and director of the Institute of Demography, the Chinese Academy of Social Sciences, Beijing.Zhou Li is deputy director of the Institute of Rural Development, the Chinese Academy of Social Sciences, Beijing.



Foreword to the First Edition



Foreword to the First Edition



Preface to the Revised Edition


Preface to the First Edition


The Authors



Economic Development Since Reform, and Prospects for the 21st Century



Policy Barriers to Persistent Growth



Key Questions



Logical Starting Point: Heavy-industry as the Priority of Development



Basic Characteristics of Heavy Industries vs. China's Economic Reality



The Macro-policy Environment for the Heavy-industry-oriented Development Strategy



The Planned Resource-allocation System



Micro-management Institutions Characterized by Nationalization and the People's Commune System



The Trinity of the Traditional Economic System: An International Comparison



Economic Growth Before Reform



Distorted Structures Under the Traditional Economic Strategy



Lack of Incentives and Low Efficiency



Leap-forward Strategies: An International Comparison



Different Interpretations of the East Asian Miracle



An Alternative Development Strategy



Comparative Advantage and Upgrading the Factor-endowment Structure



The Government's Role in Economic Development



The Comparative-advantage-following Strategy and the Asian Financial Crisis



Differences between Pre-1978 and Post-1978 Reforms



Reform of the Micro-management Institution



Reform of the Planned Resource-allocation System



The Reform of the Macro-policy Environment



The Economic Logic of "Crossing the River by Groping the Stones" - China's Approach to Reform



Improvement of Incentives and Efficiency



Correction of the Industrial Structure



Exploitating Comparative Advantage



The Cyclic Nature of Reform and Development



Rent-seeking and Corruption



Difficulties in the Reform of State-owned Enterprises



Non-performing Loans and Malpractice in the Financial System



The Aggravation of Uneven Regional Development



The Potential of Grain Supply



Coordination of the State-owned Enterprise Reform and the Reform in Economic System



Further Reform and Prevention of Financial Crises



Exploiting Comparative Advantages to Realize Sustainable Economic Development



The Demand Side of Deflation



Serious Over-supply Is the Main Cause of Deflation



The Effects of Excess Capacity and Deflation



The New Village Movement and Solution to Deflation



WTO Accession and China's Agriculture



Accession's Potential Impacts on Financial Sector



WTO Accession and SOE Reform



The Starter and Propellers of Reform



The Approach and Characteristics of Economic Reform



General Implications of China's Reform Approach


Bibliography


Index