EconPapers    
Economics at your fingertips  
 

The “Take-off” of Chinese Economy: An Evolutionary Model of Reform and Open-up

Zhiming Fu, Antoine Le Riche, Antoine Parent and Lei Zhang

Chapter 6 in Institutional Change and China Capitalism:Frontier of Cliometrics and its Application to China, 2022, pp 111-135 from World Scientific Publishing Co. Pte. Ltd.

Abstract: In this chapter, we analyze how the “take-off” of the Chinese economy is due to a gradual shift from a planned to a market economy. This evolution is mainly explained by reforms implemented which we present chronologically. We use a simple evolutionary model, based on biology, to explain how reforms allow an economy to move from a planned to a market economy. We present the case where no reforms are implemented and show that there exist two stable stationary equilibria: (i) a full market economy and (ii) a full planned economy. After the introduction of reforms, we are able to prove that there is only one stable stationary solution that corresponds to a full market economy.

Keywords: China; Macroeconomics; Cliometrics; Institutional Economics; Complexity; Economics; International Trade; Applied Econometrics; Econometrics; Empirical Finance; Behavioral Finance; Economic History; Sociology; Gender Studies (search for similar items in EconPapers)
JEL-codes: B1 B2 F10 F15 F4 N15 O11 P1 (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9781800611238_0006 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9781800611238_0006 (text/html)
Ebook Access is available upon purchase.

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:wsi:wschap:9781800611238_0006

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().

 
Page updated 2023-01-30
Handle: RePEc:wsi:wschap:9781800611238_0006