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Understanding China'S Economic Performance

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Jeffrey D. Sachs
Wing Thye Woo

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Abstract

Two schools of thought have emerged to interpret China's rapid growth. The experimentalist school attributes the successes to incremental experimentation, and claims that resulting non-capitalist institutions have been successful in agriculture where land is not owned by the farmers; in township and village enterprises which are owned collectively by rural communities; and in state owned enterprises where increased competition and not privatization has been emphasized.

The convergence school holds that China's successes comes from its institutions being allowed to converge with those of non-socialist economies, and that China's economic structure at the start of reforms is a major explanation for the rapid growth. China's gradualism and "innovative" non-capitalist institutions are responses to its political circumstances.

Interestingly, China's recent policy trend is toward institutional harmonization rather than institutional innovation, suggesting that the government accepts that the ingredients for a dynamic market economy are already well-known.

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Paper provided by California Davis - Department of Economics in its series Department of Economics with number 97-04.

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Handle: RePEc:fth:caldec:97-04

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Parker, Elliott, 1997. "The effect of scale on the response to reform by Chinese state-owned construction units," Journal of Development Economics, Elsevier, vol. 52(2), pages 331-353, April. [Downloadable!] (restricted)
  2. Jiahua Che & Yingyi Qian, 1997. "Insecure Property rights and Government Ownership of Firms," William Davidson Institute Working Papers Series 51, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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  3. Parker Elliott, 1995. "Shadow Factor Price Convergence and the Response of Chinese State-Owned Construction Enterprises to Reform," Journal of Comparative Economics, Elsevier, vol. 21(1), pages 54-81, August. [Downloadable!] (restricted)
  4. John McMillan, 1993. "Autonomy and Incentives in Chinese State Enterprises," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich.
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  5. Chang Chun & Wang Yijiang, 1994. "The Nature of the Township-Village Enterprise," Journal of Comparative Economics, Elsevier, vol. 19(3), pages 434-452, December. [Downloadable!] (restricted)
  6. Rawski, Thomas G, 1994. "Chinese Industrial Reform: Accomplishments, Prospects, and Implications," American Economic Review, American Economic Association, vol. 84(2), pages 271-75, May.
  7. David D. Li, 1996. "A Theory of Ambiguous Property Rights in Transition Economies: The Case of the Chinese Non-State Sector," William Davidson Institute Working Papers Series 8, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  8. Naughton, Barry, 1994. "Chinese Institutional Innovation and Privatization from Below," American Economic Review, American Economic Association, vol. 84(2), pages 266-70, May. [Downloadable!] (restricted)
  9. Wing Thye Woo, . "Chinese Economic Growth: Sources And Prospects," Department of Economics 96-08, California Davis - Department of Economics. [Downloadable!]
  10. Anders Åslund & Peter Boone & Simon Johnson, 1996. "How to Stabilize: Lessons from Post -communist Countries," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(1996-1), pages 217-314. [Downloadable!]
  11. Woo Wing Thye, 1994. "The Art of Reforming Centrally Planned Economies: Comparing China, Poland, and Russia," Journal of Comparative Economics, Elsevier, vol. 18(3), pages 276-308, June. [Downloadable!] (restricted)
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  12. Groves, Theodore & Yongmiao Hong & John McMillan & Barry Naughton, 1995. "China's Evolving Managerial Labor Market," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 873-92, August. [Downloadable!] (restricted)
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  13. Groves, Theodore, et al, 1994. "Autonomy and Incentives in Chinese State Enterprises," The Quarterly Journal of Economics, MIT Press, vol. 109(1), pages 183-209, February. [Downloadable!] (restricted)
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  14. Justin Yifu Lin & Fang Cai & Zhou Li, 1994. "China's economic reforms : pointers for other economies in transition?," Policy Research Working Paper Series 1310, The World Bank. [Downloadable!]
  15. Woo Wing Thye & Hai Wen & Jin Yibiao & Fan Gang, 1994. "How Successful Has Chinese Enterprise Reform Been? Pitfalls in Opposite Biases and Focus," Journal of Comparative Economics, Elsevier, vol. 18(3), pages 410-437, June. [Downloadable!] (restricted)
  16. Chongen Bai & David D. Li & Yijiang Wang, 1997. "Why Is the Productivity Analysis Misleading for Gauging State Enterprise Performance?," Boston College Working Papers in Economics 344., Boston College Department of Economics. [Downloadable!]
  17. Peter Murrell, 1995. "The Transition According to Cambridge, Mass," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 164-178, March. [Downloadable!] (restricted)
  18. Li, David D., 1996. "A Theory of Ambiguous Property Rights in Transition Economies: The Case of the Chinese Non-State Sector," Journal of Comparative Economics, Elsevier, vol. 23(1), pages 1-19, August. [Downloadable!] (restricted)
  19. Perkins, Dwight Heald, 1988. "Reforming China's Economic System," Journal of Economic Literature, American Economic Association, vol. 26(2), pages 601-45, June. [Downloadable!] (restricted)
  20. Jefferson, Gary H & Rawski, Thomas G, 1994. "Enterprise Reform in Chinese Industry," Journal of Economic Perspectives, American Economic Association, vol. 8(2), pages 47-70, Spring. [Downloadable!] (restricted)
  21. Perkins, Dwight H, 1994. "Completing China's Move to the Market," Journal of Economic Perspectives, American Economic Association, vol. 8(2), pages 23-46, Spring. [Downloadable!] (restricted)
  22. Sachs, J.D. & Woo, W.T., 1994. "Structural Factors in the Economic Reforms of China, Eastern Europe and the Former Soviet Union," Papers 94-01, California Davis - Institute of Governmental Affairs.
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