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A Lotka--Volterra evolutionary model of China's incremental institutional reform

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  • Yongjing Zhang

Abstract

Integrating evolutionary game theory with modern political economics, this article develops a Lotka--Volterra evolutionary model to explain China's incremental institutional reform. In this model, growth-oriented central leaders are intelligent designers of institutional changes; provincial and local leaders are potential predators; and private firms are potential prey. This model finds that improvements in the rule of law and in the protection of private property rights are not essential for short-run growth in China. Instead, the primary institutional source of China's economic success is the incremental reductions of discrimination policy against the private sector.

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  • Yongjing Zhang, 2012. "A Lotka--Volterra evolutionary model of China's incremental institutional reform," Applied Economics Letters, Taylor & Francis Journals, vol. 19(4), pages 367-371, March.
    • Handle: RePEc:taf:apeclt:v:19:y:2012:i:4:p:367-371
    DOI: 10.1080/13504851.2011.579054
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    Cited by:

    1. Olivier Mesly & David W. Shanafelt & Nicolas Huck & François‐Éric Racicot, 2020. "From wheel of fortune to wheel of misfortune: Financial crises, cycles, and consumer predation," Journal of Consumer Affairs, Wiley Blackwell, vol. 54(4), pages 1195-1212, December.
    2. Olivier Mesly & David W. Shanafelt & Nicolas Huck, 2021. "Dysfunctional Markets: A Spray of Prey Perspective," Journal of Economic Issues, Taylor & Francis Journals, vol. 55(3), pages 797-819, July.
    3. Bi-Huei Tsai, 2017. "Predicting the competitive relationships of industrial production between Taiwan and China using Lotka–Volterra model," Applied Economics, Taylor & Francis Journals, vol. 49(25), pages 2428-2442, May.

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