THE TRANSITION PROCESS IN CHINA: AN ECONOMIC DEVELOPMENT PERSPECTIVE

Pu Chen and Chih-Ying Hsiao ()
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Chih-Ying Hsiao: School of Finance and Economics, University of Technology, Sydney

Journal of Economic Development, 2007, vol. 32, issue 2, 113-134

Abstract: During the last 25 years, the Chinese economy has experienced significant changes: the centrally planned economy has been reformed gradually into a market economy; the traditional agricultural economy is becoming more and more a modern industrial economy. In a dynamic two-sector-two-segment model we demonstrate that the economic reform has changed the industrialization mechanism in China. It released a decentralized industrialization process beside the centrally planned Soviet-type industrialization. This decentralized industrialization is shown to be the ultimate driving force of the transition from plan to market in China.

Keywords: Transition; Economic Reform; Industrialization; the Chinese Economy (search for similar items in EconPapers)
JEL-codes: O1 O14 P2 (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:jed:journl:v:32:y:2007:i:2:p:113-134

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