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Making it in China: The determinants of economic success in a socialist market system

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  • Marandici, Ion

Abstract

China's politicians like to emphasise that they are building a socialist market economy based on the ideology of socialism with Chinese characteristics. Unlike other post-communist transitions to capitalism, China's radical economic transformations during the neo-liberal era did not generate a large pool of economic losers. On the contrary, over the last three decades, seven hundred million Chinese escaped poverty. Yet at the same time, China's impressive economic growth has been associated with the rise of a wealthy elite, which gradually is being co-opted by the party-state. Relying on elite-level and survey data, this study goes beyond socio-demographic characteristics and investigates whether party membership, education, beliefs in upward mobility and support for an interventionist state correlate with income levels. The final section discusses the implications of the observed trends for the future of the Chinese economic model.

Suggested Citation

  • Marandici, Ion, 2019. "Making it in China: The determinants of economic success in a socialist market system," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 89-107.
    • Handle: RePEc:zbw:espost:268299
    DOI: 10.14324/111.9781787353824
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    References listed on IDEAS

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    1. Lawrence J. Lau & Yingyi Qian & Gerard Roland, 2000. "Reform without Losers: An Interpretation of China's Dual-Track Approach to Transition," Journal of Political Economy, University of Chicago Press, vol. 108(1), pages 120-143, February.
    2. Biwei Su & Almas Heshmati, 2013. "Analysis Of The Determinants Of Income And Income Gap Between Urban And Rural China," China Economic Policy Review (CEPR), World Scientific Publishing Co. Pte. Ltd., vol. 2(01), pages 1-29.
    3. Shih, Victor & Adolph, Christopher & Liu, Mingxing, 2012. "Getting Ahead in the Communist Party: Explaining the Advancement of Central Committee Members in China," American Political Science Review, Cambridge University Press, vol. 106(1), pages 166-187, February.
    4. Kate Stratford & Arianna Cowling, 2016. "Chinese Household Income, Consumption and Savings," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 31-40, September.
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    More about this item

    Keywords

    China; political economy; wealthy elites; superrich; income; communism;
    All these keywords.

    JEL classification:

    • P3 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • P5 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems
    • P30 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - General

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