Adaptive efficiency, institutional change and economic performance: evidence from the Chinese economy

Chérie Simpson, Ligang Song and Yixiao Zhou

Journal of Chinese Economic and Business Studies, 2025, vol. 23, issue 4, 737-763

Abstract: Adaptive efficiency is an ongoing process of innovation and modification in which institutions, organisations, and individuals interact with and adapt to each other as conditions change or shocks hit an economy. Building on this concept, this study first presents the adaptive efficiency framework which is concerned with how the institutional framework, the three functions of the market, and the organisations and individuals in an economy interact, adapt, and evolve over time to achieve sustainable, long-run economic growth. To test this framework, we present an empirical case study based on evidence from Chinese provinces that suggests that improving the quality of the institutional environment and the three functions of the market will lead to higher economic growth. Our findings also reveal significant variation in the effectiveness and impact of these factors at the regional level. The findings from this study have significant implications for reform and public policy as well as regional development strategy.

Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/14765284.2025.2489276 (text/html)
Access to full text is restricted to subscribers.

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:taf:jocebs:v:23:y:2025:i:4:p:737-763

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RCEA20

DOI: 10.1080/14765284.2025.2489276

Access Statistics for this article

Journal of Chinese Economic and Business Studies is currently edited by Professor Xiaming Liu

More articles in Journal of Chinese Economic and Business Studies from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().