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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 | |