Transformation in China

Qian Yingyi and Wu Jinglian
Additional contact information
Qian Yingyi: University of California
Wu Jinglian: Development Research Centre (DRC)

Chapter 2 in Institutional Change and Economic Behaviour, 2008, pp 38-63 from Palgrave Macmillan

Abstract: Abstract In his Presidential Address, Professor Janos Kornai (2005a) evaluated the transformation in the eight Central Eastern European countries (CEE8) from two perspectives. From the perspective of everyday life, the transformation in the last 15 years brought much disappointment. Part of it is due to the change of the reference point — now the bar is raised to the level of the developed Europe, but part of it is real, as the evidence shows that negative sentiments among the population are strong. On the other hand, from the long-term historical perspective, the transformation is a major success: not only have both the economic and political transformations been completed in the main direction of Western society, that is, capitalism and democracy, but also its completion was fast and peaceful. The long-run gain from the transformation could be high, even though the short-run pain is not negligible. In addition, because there is an intrinsic value of the political rights that were brought about by the transformation to democracy, transformation itself has an intrinsic value.

Keywords: Gross Domestic Product; Communist Party; Economic Freedom; Chinese Communist Party; Cultural Revolution (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations: View citations in EconPapers (2)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-0-230-58342-9_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230583429

DOI: 10.1057/9780230583429_2

Access Statistics for this chapter

More chapters in International Economic Association Series from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().