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Article: China's economic reform: the next step

TitleChina's economic reform: the next step
Authors
Issue Date1995
PublisherBlackwell Publishing, Inc.
Citation
Contemporary Economic Policy, 1995, v. 13 n. 1, p. 18-27 How to Cite?
AbstractChina's economic reforms succeeded in decentralizing decision making power down to the local and enterprise level. This decentralization has permitted a vibrant non-state sector to emerge alongside the state sector. Growing out of the state plan accounts for much of China's spectacular economic growth. However, productivity in the state sector has experienced little improvement. One can trace recurrent macroeconomic imbalances and inflation to the state policy to provide cheap credit to cover the huge losses sustained by state-owned enterprises. Attempts to reimpose controls to cool down an overheated economy repeatedly have halted the momentum for economic reform. Failure to introduce banking and financial reforms threatens future growth of the non-state sector. The success of such reforms depends critically on efforts to restructure and privatize state-owned enterprises. Growing out of the state plan requires officials to adopt an explicit policy to stop supporting the losses in the state owned enterprises.
Persistent Identifierhttp://hdl.handle.net/10722/85629
ISSN
2015 Impact Factor: 0.602
2015 SCImago Journal Rankings: 0.424

 

DC FieldValueLanguage
dc.contributor.authorWong, RYCen_HK
dc.date.accessioned2010-09-06T09:07:21Z-
dc.date.available2010-09-06T09:07:21Z-
dc.date.issued1995en_HK
dc.identifier.citationContemporary Economic Policy, 1995, v. 13 n. 1, p. 18-27en_HK
dc.identifier.issn1074-3529en_HK
dc.identifier.urihttp://hdl.handle.net/10722/85629-
dc.description.abstractChina's economic reforms succeeded in decentralizing decision making power down to the local and enterprise level. This decentralization has permitted a vibrant non-state sector to emerge alongside the state sector. Growing out of the state plan accounts for much of China's spectacular economic growth. However, productivity in the state sector has experienced little improvement. One can trace recurrent macroeconomic imbalances and inflation to the state policy to provide cheap credit to cover the huge losses sustained by state-owned enterprises. Attempts to reimpose controls to cool down an overheated economy repeatedly have halted the momentum for economic reform. Failure to introduce banking and financial reforms threatens future growth of the non-state sector. The success of such reforms depends critically on efforts to restructure and privatize state-owned enterprises. Growing out of the state plan requires officials to adopt an explicit policy to stop supporting the losses in the state owned enterprises.-
dc.languageengen_HK
dc.publisherBlackwell Publishing, Inc.en_HK
dc.relation.ispartofContemporary Economic Policyen_HK
dc.rightsThe definitive version is available at www.blackwell-synergy.com-
dc.titleChina's economic reform: the next stepen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1074-3529&volume=13&issue=1&spage=18&epage=27&date=1995&atitle=China%27s+economic+reform:+the+next+stepen_HK
dc.identifier.emailWong, RYC: rycwong@hku.hken_HK
dc.identifier.doi10.1111/j.1465-7287.1995.tb00708.x-
dc.identifier.hkuros5387en_HK
dc.identifier.volume13-
dc.identifier.issue1-
dc.identifier.spage18-
dc.identifier.epage27-

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