The Chinese Economy in Transition: Micro Changes & Macro Implications
Will China be able to preserve the momentum of its economic reform in the post Deng Xiaoping era? Will her rising regionalism lead to internal chaos and warlordism? Is China's central government capable of acquiring the much needed policy instruments to maintain macroeconomic stability? This book seeks to answer these questions by adopting the Public Choice approach to analyse the complex ways in which China's political processes affect economic outcomes during its transition towards the market. The author describes how macro-level policy initiatives affect the behaviour of micro-level actors such as households, enterprises, and localities, and how micro-level behaviour changes in large numbers become unorganised yet powerful collective actions, which in turn send strong signals to macro-level policy makers and thus change the state's policy orientations and result in new state-society relationships. The author argues that new incentives are thereby created and new interest groups are generated to sustain those changes and demand further reform, thus making the market transition an irreversible process.
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National Income Accounting System in Transition
REFORM AND INCOME GROWTH
Reward and Performance
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The Chinese Economy in Transition: Micro Changes and Macro Implications
Limited preview - 1995
agricultural production authoritarian reformers autonomy bank loans behaviour billion yuan bonuses budget budgetary bureaucratic capital central bank central government central leadership centrally planned economies centre changes Chapter Chen Chinese collective action consumer durable consumption Cultural Revolution decentralisation decollectivisation demand democratic reformers Deng Xiaoping distribution economic reform expansion fixed investment funds governments and enterprises grain growth rate Guangdong household implemented important incentives increased industry inflation interest rates investment projects labour force large numbers Lianhe Zaobao macroeconomic market-oriented reform million organisations output value peasants people's communes percent in 1978 period political problem profit per worker protectionism provinces raw materials reduced regions rent seeking retained profit revenues role rural residents rural TVEs share social SOEs sources specialised banks state-owned enterprises state-owned units Statistical Yearbook Statistics Bureau structure supply surplus labourers Table transition unemployment urban collectives wage World Bank Yearbook of China Zhao Ziyang