| |
| |
| Preface | |
| |
| |
| Preface to the Second Edition | |
| |
| |
| Introduction: The Transformation of China's Economy | |
| |
| |
| |
| Historical Background and General Survey | |
| |
| |
| |
| Economic Lessons from History | |
| |
| |
| |
| Introduction | |
| |
| |
| |
| Significant Events in Major Historical Dynasties | |
| |
| |
| |
| The Republic of China, 1911 | |
| |
| |
| |
| Summary of Historical Lessons | |
| |
| |
| |
| Experiments with Planning and Economic Disruptions | |
| |
| |
| |
| The Communist Party Rises to Power | |
| |
| |
| |
| Historical Review: 1949-78 | |
| |
| |
| |
| A Model of the Chinese Planned Economy | |
| |
| |
| |
| The Behavior of Economic Units in a Planned Economy | |
| |
| |
| |
| Output Planning in Theory and Practice | |
| |
| |
| |
| Organization and Administration of Economic Planning | |
| |
| |
| |
| Economic Reform up to the Mid-1990s | |
| |
| |
| |
| Why Economic Reform Started in 1978 | |
| |
| |
| |
| Agriculture | |
| |
| |
| |
| Reform of State-owned Enterprises | |
| |
| |
| |
| Price Reform | |
| |
| |
| |
| The Banking System | |
| |
| |
| |
| Foreign Trade and Investment | |
| |
| |
| |
| The Nonstate Sectors | |
| |
| |
| |
| Institutional Infrastructure | |
| |
| |
| |
| Reform Policies Similar to Those of Taiwan | |
| |
| |
| |
| Reasons for the Success of China's Economic Reform | |
| |
| |
| |
| Summary | |
| |
| |
| |
| China's Geography | |
| |
| |
| |
| Further Reform: Problems and Prospects | |
| |
| |
| |
| Introduction | |
| |
| |
| |
| Enterprise Reform | |
| |
| |
| |
| Banking Reform | |
| |
| |
| |
| Foreign Trade and Investment during the Asian Financial Crisis | |
| |
| |
| |
| The Impact of WTO Membership | |
| |
| |
| |
| Agriculture and Rural Poverty | |
| |
| |
| |
| Prospects for Reform | |
| |
| |
| |
| Analysis of the Macroeconomy | |
| |
| |
| |
| Economic Growth | |
| |
| |
| |
| The Neoclassical Model of Economic Growth | |
| |
| |
| |
| Data on Output, Capital, and Labor | |
| |
| |
| |
| A Review of Regression Analysis | |
| |
| |
| |
| Estimating Production Functions for China | |
| |
| |
| |
| Use of the Neoclassical Growth Model to Forecast GDP | |
| |
| |
| |
| How Large will the Chinese Economy be in 2020? | |
| |
| |
| |
| Economic Fluctuations | |
| |
| |
| |
| The Multiplier-Accelerator Model of Economic Fluctuations | |
| |
| |
| |
| Dynamic Properties of the Multiplier-Accelerator Model | |
| |
| |
| |
| An Econometric Method for Estimating Parameters of Linear Stochastic Equations | |
| |
| |
| |
| Estimating a Multiplier-Accelerator Model of the Chinese Economy | |
| |
| |
| |
| A Vector Autoregression (VAR) System | |
| |
| |
| |
| Econometric Models of the Chinese Economy | |
| |
| |
| |
| Macroeconomic Policies | |
| |
| |
| |
| Introduction | |
| |
| |
| |
| Monetary Policy | |
| |
| |
| |
| An Econometric Analysis of Inflation and of Monetary Policy in China | |
| |
| |
| |
| Basic Facts about Government Revenue and Expenditure | |
| |
| |
| |
| Fiscal Policy | |
| |
| |
| |
| The Effects of Political Movements on the Macroeconomy | |
| |
| |
| |
| Specification of a Dynamic Optimization Model of the Chinese Economy | |
| |
| |
| |
| The Solution of the Dynamic Optimization Problem | |
| |
| |
| |
| Statistical Estimation | |
| |
| |
| |
| Measuring the Effects of Two Political Events | |
| |
| |
| |
| Conclusions | |
| |
| |
| |
| Topics in Economic Development | |
| |
| |
| |
| Consumption | |
| |
| |
| |
| Trends in Per Capita Consumption | |
| |
| |
| |
| Household Expenditure Patterns | |
| |
| |
| |
| Rural Per Capita Consumption Expenditures in 1998 by Province | |
| |
| |
| |
| Consumption of Housing in Rural and Urban Aras | |
| |
| |
| |
| Western Development and Environmental Policies | |
| |
| |
| |
| Inequality in Per Capita Consumption and East-West Disparity | |
| |
| |
| |
| Developing the Western Part of China | |
| |
| |
| |
| Environmental Policies | |
| |
| |
| |
| A Study of Industrial Pollution | |
| |
| |
| |
| Population | |
| |
| |
| |
| The Role of Population and Human Capital in Economic Development | |
| |
| |
| |
| The Chinese Population and its Rate of Growth | |
| |
| |
| |
| Population Policy | |
| |
| |
| |
| Evaluation of China's Population Policy | |
| |
| |
| |
| Economic Explanation of the Birth Rate | |
| |
| |
| |
| Human Capital | |
| |
| |
| |
| The Importance of Human Capital and its Measurement | |
| |
| |
| |
| Labor Supply and Demand | |
| |
| |
| |
| Investment in Human Capital | |
| |
| |
| |
| Measuring the Rates of Return to Schooling in China | |
| |
| |
| |
| Health Services | |
| |
| |
| |
| The Social Welfare System | |
| |
| |
| |
| Analysis of Individual Sectors | |
| |
| |
| |
| The Banking and Financial System | |
| |
| |
| |
| Commercial Banks | |
| |
| |
| |
| The People's Bank | |
| |
| |
| |
| Factors Affecting the Functioning of the Banking System | |
| |
| |
| |
| Possible Weaknesses of the System | |
| |
| |
| |
| Possible Directions of Reform | |
| |
| |
| |
| The Financial Condition of Commercial Banks and the Bad-loan Problem | |
| |
| |
| |
| Other Financial Institutions | |
| |
| |
| |
| The Role of the Chinese Government in Reforming the Financial System | |
| |
| |
| |
| Shanghai Stock Price Determination | |
| |
| |
| |
| Introduction | |
| |
| |
| |
| A Model of Stock Price Determination | |
| |
| |
| |
| Empirical Findings from the Shanghai Stock Exchange | |
| |
| |
| |
| Comparison with Findings for Hong Kong and New York Stocks | |
| |
| |
| |
| Concluding Comments | |
| |
| |
| |
| The Behavior of State Enterprises | |
| |
| |
| |
| Organization of a State Enterprise under Central Planning | |
| |
| |
| |
| Planning and Operations of a Large-scale State Enterprise | |
| |
| |
| |
| A Simple Model of a State Enterprise under Central Planning | |
| |
| |
| |
| A Simple Model of a State Enterprise after Initial Reform | |
| |
| |
| |
| State Enterprise Restructuring in the Late so and its Effects on Enterprise Behavior | |
| |
| |
| |
| The Nonstate Sectors | |
| |
| |
| |
| Relative Growth of Nonstate Sectors | |
| |
| |
| |
| Private Enterprises Prior to 1949 | |
| |
| |
| |
| Economic Conditions for the Growth of Township and Village Enterprises | |
| |
| |
| |
| Econometric Measurement of the Relative Efficiency of State Enterprises and TVEs | |
| |
| |
| |
| Characteristics of a Free-market Economy | |
| |
| |
| |
| Characteristics of the Chinese Market Economy | |
| |
| |
| |
| Foreign Trade | |
| |
| |
| |
| Some Statistics of China's Foreign Trade | |
| |
| |
| |
| Explanation of Trading Patterns under Free Trade | |
| |
| |
| |
| The Determination of Foreign Exchange Rates | |
| |
| |
| |
| China's Foreign Trade Policy | |
| |
| |
| |
| Problems in Implementing Foreign Trade Policies in the Early 1980s | |
| |
| |
| |
| Protectionism in the United States | |
| |
| |
| |
| Foreign Investment | |
| |
| |
| |
| The Role of Foreign Investment | |
| |
| |
| |
| Historical Developments | |
| |
| |
| |
| The State of Foreign Direct Investment (FDI) as of 2002 | |
| |
| |
| |
| Policies for the Regulation of Foreign Investment | |
| |
| |
| |
| Opportunities and Problems for Foreign Investors | |
| |
| |
| |
| How Attractive is China for Foreign Investment? | |
| |
| |
| |
| The Impact of WTO Membership on Foreign Investment | |
| |
| |
| |
| A Proposal to Increase Foreign Investment from Taiwan | |
| |
| |
| |
| Studies of Economic Institutions and Infrastructure | |
| |
| |
| |
| Corruption and Misuse of Assets | |
| |
| |
| |
| Introduction | |
| |
| |
| |
| Laws of Asset Management | |
| |
| |
| |
| Managing One's Own Person | |
| |
| |
| |
| Managing Physical Assets | |
| |
| |
| |
| Managing Collections of Assets under the Responsibility System | |
| |
| |
| |
| The Misuse of Collectively Owned Land | |
| |
| |
| |
| Corruption and Economic Reform | |
| |
| |
| |
| Concluding Comments | |
| |
| |
| |
| The Legal System and the Role of Government | |
| |
| |
| |
| The Legal System prior to 1949 | |
| |
| |
| |
| The Legal System since 1949 | |
| |
| |
| |
| The Role of the Legal System in a Market Economy | |
| |
| |
| |
| The Economic Role of Government | |
| |
| |
| |
| The Role of Planning in China's Market Economy | |
| |
| |
| |
| The Government's Decision Process | |
| |
| |
| |
| The Education System and Policy | |
| |
| |
| |
| The Education System prior to 1949 | |
| |
| |
| |
| The Education System after 1949 | |
| |
| |
| |
| Education Policy | |
| |
| |
| |
| Economics Education | |
| |
| |
| |
| Demand for Education | |
| |
| |
| |
| Concluding Comments | |
| |
| |
| |
| Taking Stock and Looking Ahead | |
| |
| |
| |
| Taking Stock | |
| |
| |
| |
| Prospects for the Chinese Economy up to 2020 | |
| |
| |
| Conclusion: Lessons for the Study of Economic Transformation | |
| |
| |
| Index | |