Growth without Miracles: Readings on the Chinese Economy in the Era of Reform

Growth without Miracles: Readings on the Chinese Economy in the Era of Reform

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Edited by Ross Garnaut, Edited by Yiping Huang

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  • Publisher: Oxford University Press
  • Format: Paperback | 528 pages
  • Dimensions: 170mm x 244mm x 28mm | 798g
  • Publication date: 24 May 2001
  • Publication City/Country: Oxford
  • ISBN 10: 0199240590
  • ISBN 13: 9780199240593
  • Edition statement: New.
  • Illustrations note: numerous tables

Product description

China's economic reform constitutes one of the most remarkable events of the second half of the twentieth century. It not only significantly improved the living conditions of the Chinese population but also provides a useful model of economic transition from central planning to a market economy. The gradual approach to reform adopted by the Chinese was widely regarded as suboptimal and likely to fail when compared to the shock therapy method applied in the former Soviet Union and the Eastern European economies. But China has out-performed other transitional economies. To many observers the Chinese experience is either a myth or a miracle. This volume addresses key questions about the initial economic foundations, the reform of macroeconomic policies and macroeconomic stability, the achievements of agricultural reform and the agricultural policy choices facing the Chinese government, the unique characteristics of the township and village enterprises, the successful reform of the state-owned enterprises, the development of factor markets, the contributions of the external sectors to economic growth, the lessons of the Chinese experience for transitional economies, and the challenges for economic threory. Growth without Miracles brings together thirty widely cited articles by prominent economists in the field of China studies to offer authoritative and through assessment and analyses of Chinas experience during the reform period. It provides a complete story for teachers and students of courses on the Chinese economy and will be of considerable interest to researchers, officials, and business people who want to understand past experiences, current problems, and the future direction of the Chinese economy.

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Table of contents

PART 1 INTRODUCTION AND OVERVIEW ; 1 The Economic Growth of the Chinese Economy: A Historical Perspective ; 2 The Neither This nor That Economy ; 3 Completing Chinas Move to the Market ; PART 2 ECONOMIC FOUNDATIONS BEFORE REFORM ; 4 Foundations for the Future: The Building of Modern Machinery in Shanghai before the Pacific War ; 5 Pre-reform Economic Development in China ; 6 A Long-Term Appraisal of Country Risk ; PART 3 MACROECONOMIC POLICY AND STABILITY ; 7 Economic Growth and Stability in China ; 8 Chinas Macroeconomic Performance and Management during Transition ; PART 4 AGRICULTURAL POLICY ; 9 Plan and Market in Chinas Agricultural Commerce ; 10 Rural Reforms and Agricultural Growth in China ; 11 How Should China Feed Itself? ; PART 5 RURAL INDUSTRIALIZATION ; 12 Township, Village, and Private Industry in Chinas Economic Reform ; 13 Surrounding the Cities from the Countryside ; 14 The Nature of the Township-Village Enterprise ; 15 Public vs. Private Ownership of Firms: Evidence from Rural China ; PART 6 ENTERPRISE REFORM AND INDUSTRIAL DEVELOPMENT ; 16 Enterprise Reform in Chinese Industry ; 17 Incentives and Autonomy in Chinese State Enterprises ; 18 The State Sector under Reform ; 19 Chinas Industrial Growth and Efficiency: A Comparison between the State and the TVE sectors ; PART 7 FACTOR MARKETS AND INCOME ; 20 Towards a Labour Market in China ; 21 Fiscal Decentralization and Growing Regional Disparities in Rural China: Some Evidence in the Provision of Social Services ; 22 Wage Determination and Occupational Attainment in the Rural Industrial Sector of China ; 23 Income and Inequality in China: Composition, Distribution, and Growth of Household Income, 1988 to 1995 ; PART 8 EXTERNAL SECTOR ; 24 The Role of Foreign Trade and Investment in Chinas Economic Transformation ; 25 Institutional Change, Trade Composition, and Export Supply Potential in China ; 26 Chinas WTO Membership: Whats at Stake? ; 27 Chinas Integration into the World Economy ; PART 9 LESSONS FROM CHINAS EXPERIENCES ; 28 How to Reform a Planned Economy: Lessons from China ; 29 Structural Factors in the Economic Reforms of China ; 30 Challenges of Chinas Economic System for Economic Theory