Buch(gedruckt)2018

The institutional evolution of China: government vs market

In: Advances in new instituational analysis

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Abstract

Klappentext: China's recent evolution is not only a story of extraordinary economic growth but also a story of great institutional change. Fan Zhang challenges traditional theory to explain the real origins of China's reform, the political and economic forces driving it, and the reasoning behind its stagnation. The institutional re-arrangement of government and market has been crucial in this marketization process. Using a wealth of documents and cases, Zhang provides a detailed analysis of China's institutional changes over the past 40 years, focusing on the government-market relationship. A theoretical framework is presented to explain the targets and incentives of government and business firms in a bureaucratic-market system, which promoted economic growth, but also fostered corruption and resulted in a re-centralisation of the system. Using an index of marketization in China since 1978, Zhang shows that overall, market expansion has continued but with diminishing marginal gains. The government control of financial resources that had previously been relaxed in the early years of reform has been enhanced to some extent as a result of the changing institutional environment. Policy makers dealing with China-related policies, researchers and postgraduate students in political science, economics and Chinese studies will find this book a compelling exploration of the current and constant cooperation and conflict between government and market.

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Buch(elektronisch)#12018

The institutional evolution of China: government vs market

In: Advances in new institutional analysis series

In: Elgaronline

In: Edward Elgar books

In: Edward Elgar E-Book Archive

In: Advances in new institutional analysis

Zhang, Fan

Contents: Preface -- 1. Introduction -- 2. Road to reform: 1949-1978 -- 3. Reform 1979-1989: how was the market created? -- 4. Reform and political coalition in 1990-2003 -- 5. Stagnation in 2003-2012 -- 6. The post reform period 2012-present -- 7. Lessons learned and long term expectations -- Reference -- Index.