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China's Economic Transformation

ISBN-10: 1405156244

ISBN-13: 9781405156240

Edition: 2nd 2007 (Revised)

Authors: Gregory C. Chow

List price: $62.95
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Description:

In the last two and a half decades, reform in China has resulted in phenomenal economic growth for the world 's most populous country. In this second edition of the successful book, Gregory Chow uses insights gained from over twenty years of teaching and traveling, as well as his work with government officials and academics, to address the transformation, development, and functioning of China 's economy.Chow combines historical-institutional and theoretical-quantitative approaches to provide a penetrating and comprehensive analysis of the factors that have contributed to China 's economic transformation. Introducing the reader to the inner workings of the Chinese economy and details the process of its transformation into a market economy, Chow observes the economics of institutional changes taking place, the role of China 's government, and the significance of the historic and cultural traditions of the country. Chow 's knowledge of what has happened and what is happening in China helps him identify the major causes of economic change and development.
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Book details

List price: $62.95
Edition: 2nd
Copyright year: 2007
Publisher: John Wiley & Sons, Incorporated
Publication date: 2/5/2007
Binding: Paperback
Pages: 466
Size: 7.50" wide x 9.50" long x 1.00" tall
Weight: 1.936
Language: English

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