Political Economy Perspective of China's Economic Transition

Gang Fan

No 199606, Working Papers from CERDI

Abstract: This paper tries to understand the fundamental causes and caracteristics of China's gradual market-oriented reform strategy. This will be discussed from two points of view, the "acceptability" and the "faisability". The majority of the society and the leadership did not accept a more radical reform program because the Chinese economic situation in the late 1970s was "too good" for that. For the faisability, the hypothesis is that the lower the growth potential of old system, the less the interest in that old system and the stronger the incentives for reform and the stronger the willingness to pursue radical change. That's what happened with the "dual-track system".

Pages: 99
Date: 1996
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