China's Macroeconomic Development: Stages and Nonlinear Convergence

Pingyao Lai

China & World Economy, 2006, vol. 14, issue 1, 15-29

Abstract: The central theme of this paper is that China's macroeconomic development can be divided into three distinct stages with significant trend changes. Market‐oriented reform and opening to the outside world provide main driving forces for the convergence. However, the gradual reform and some inappropriate policies have caused serious ups and downs in China's macroeconomic performance. (Edited by Zhinan Zhang)

Date: 2006
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