In this Book

summary

As China has transformed itself from a centrally planned economy to a market economy, economists have tried to understand and interpret the success of Chinese reform. As the Chinese economist Yingyi Qian explains, there are two schools of thought on Chinese reform: the "School of Universal Principles," which ascribes China's successful reform to the workings of the free market, and the "School of Chinese Characteristics," which holds that China's reform is successful precisely because it did not follow the economics of the market but instead relied on the government. In this book, Qian offers a third perspective, taking certain elements from each school of thought but emphasizing not why reform worked but how it did. Economics is a science, but economic reform is applied science and engineering. To a practitioner, it is more useful to find a feasible reform path than the theoretically best way.

The key to understanding how reform has worked in China, Qian argues, is to consider the way reform designs respond to initial historical conditions and contemporary constraints. Qian examines the role of "transitional institutions" -- not "best practice institutions" but "incentive-compatible institutions" -- in Chinese reform; the dual-track approach to market liberalization; the ownership of firms, viewed both theoretically and empirically; government decentralization, offering and testing hypotheses about its link to local economic development; and the specific historical conditions of China's regional-based central planning.

Table of Contents

  1. Cover
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  1. Title Page, Copyright, Dedication
  2. pp. i-vi
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  1. Contents
  2. pp. vii-viii
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  1. Acknowledgments
  2. pp. ix-x
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  1. Introduction: A New Perspective on Reform
  2. pp. 1-16
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  1. 1 How Reform Worked in China
  2. pp. 17-60
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  1. I DUAL-TRACK MARKET LIBERALIZATION
  1. 2 Reform without Losers: An Interpretation of China’s Dual-Track Approach to Transition
  2. pp. 63-88
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  1. 3 Pareto-Improving Economic Reforms through Dual-Track Liberalization
  2. pp. 89-98
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  1. II UNCONVENTIONAL OWNERSHIP OF FIRMS
  1. 4 Institutional Environment, Community Government, and Corporate Governance: Understanding China’s Township-Village Enterprises
  2. pp. 101-130
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  1. 5 Insecure Property Rights and Government Ownership of Firms
  2. pp. 131-160
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  1. 6 Public vs. Private Ownership of Firms: Evidence from Rural China
  2. pp. 161-198
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  1. III GOVERNMENT AND REFORM: FEDERALISM, CHINESE STYLE
  1. 7 Federalism, Chinese Style: The Political Basis for Economic Success in China
  2. pp. 201-236
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  1. 8 Federalism as a Commitment to Preserving Market Incentives
  2. pp. 237-250
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  1. 9 Regional Decentralization and Fiscal Incentives: Federalism, Chinese Style
  2. pp. 251-282
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  1. IV INITIAL ORGANIZATIONAL CONDITIONS AND REFORM
  1. 10 Why China’s Economic Reforms Differ: The M-Form Hierarchy and Entry/Expansion of the Non-State Sector
  2. pp. 285-332
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  1. 11 Incentives, Information, and Organizational Form
  2. pp. 333-360
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  1. 12 Coordinating Reforms in Transition Economies
  2. pp. 361-394
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  1. Index
  2. pp. 395-402
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Additional Information

ISBN
9780262342728
Related ISBN
9780262534246
MARC Record
OCLC
1013541281
Pages
412
Launched on MUSE
2018-01-03
Language
English
Open Access
No
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