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Book Chapter: The rise of China as an economic power

TitleThe rise of China as an economic power
Authors
Issue Date1996
PublisherCentre for Economic Performance, London School of Economics and Political Science
Citation
The rise of China as an economic power. In Centre for Economic Performance Discussion Paper No. 299, p. 1-46. UK: Centre for Economic Performance, London School of Economics and Political Science, 1996 How to Cite?
AbstractIn the twenty years since the Cultural Revolution, China has maintained fast real growth. This occurred despite China having similar problems to other transitional economies, eg loss-making State Owned Enterprises (SOEs), eroding fiscal revenues and inflation, (Section 3). Although China initially adopted the Soviet central planning model, after the 1950s break Chinese planning changed towards a regionally-based system with local planning (Section 2). In contrast to the centrally-based, functionally-specialised (U form or unitary structure) Soviet model, the Chinese economy is organized on a multi-layer-multi-regional (M form) basis. This encouraged development of small size township and village enterprises (TVEs), the main engine of Chinese growth. Power and control remained with the Party and the State, but was diffused much more widely, regionally and locally. This allowed initiatives at lower (political) levels to establish institutions, both in agriculture (the ‘household responsibility system’) and industry (TVEs), without state protection. Even among regionally controlled SOEs, ‘tournament rivalry’ between regions, etc, and between SOEs and TVEs provided competition.
Persistent Identifierhttp://hdl.handle.net/10722/153489
ISBN

 

DC FieldValueLanguage
dc.contributor.authorGoodhart, C-
dc.contributor.authorXu, C-
dc.date.accessioned2012-08-07T03:35:20Z-
dc.date.available2012-08-07T03:35:20Z-
dc.date.issued1996-
dc.identifier.citationThe rise of China as an economic power. In Centre for Economic Performance Discussion Paper No. 299, p. 1-46. UK: Centre for Economic Performance, London School of Economics and Political Science, 1996-
dc.identifier.isbn0753007142-
dc.identifier.urihttp://hdl.handle.net/10722/153489-
dc.description.abstractIn the twenty years since the Cultural Revolution, China has maintained fast real growth. This occurred despite China having similar problems to other transitional economies, eg loss-making State Owned Enterprises (SOEs), eroding fiscal revenues and inflation, (Section 3). Although China initially adopted the Soviet central planning model, after the 1950s break Chinese planning changed towards a regionally-based system with local planning (Section 2). In contrast to the centrally-based, functionally-specialised (U form or unitary structure) Soviet model, the Chinese economy is organized on a multi-layer-multi-regional (M form) basis. This encouraged development of small size township and village enterprises (TVEs), the main engine of Chinese growth. Power and control remained with the Party and the State, but was diffused much more widely, regionally and locally. This allowed initiatives at lower (political) levels to establish institutions, both in agriculture (the ‘household responsibility system’) and industry (TVEs), without state protection. Even among regionally controlled SOEs, ‘tournament rivalry’ between regions, etc, and between SOEs and TVEs provided competition.-
dc.languageeng-
dc.publisherCentre for Economic Performance, London School of Economics and Political Science-
dc.relation.ispartofCentre for Economic Performance Discussion Paper No. 299-
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.titleThe rise of China as an economic poweren_US
dc.typeBook_Chapteren_US
dc.identifier.emailXu, C: cgxu@hku.hk-
dc.description.naturepublished_or_final_version-
dc.identifier.spage1-
dc.identifier.epage46-
dc.publisher.placeUK-

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