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Challenges of China;s Economic System for Economic Theory

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  • Gregory C. Chow

    (Princeton University)

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    Abstract

    The challenges in the market economy in China for economic theory touch on four topics: private versus public ownership of assets, Western legal systems versus Eastern European semiformal legal systems, individualism versus the collective good, and multiparty versus one party political systems. I came in contact with these issues while advising the government of Taiwan in the 1960's and 1970's, and the government of mainland China in the 1980's and 1990's.y

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    File URL: http://128.118.178.162/eps/mic/papers/0306/0306002.pdf
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    Bibliographic Info

    Paper provided by EconWPA in its series Microeconomics with number 0306002.

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    Date of creation: 11 Jun 2003
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    Handle: RePEc:wpa:wuwpmi:0306002

    Note: Published AER Vol 87, No 2, pp 321-327
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    Web page: http://128.118.178.162

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    Keywords: Microeconomics;

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    1. Bolton, Patrick, 1990. "Renegotiation and the dynamics of contract design," European Economic Review, Elsevier, vol. 34(2-3), pages 303-310, May.
    2. Weitzman Martin L. & Xu Chenggang, 1994. "Chinese Township-Village Enterprises as Vaguely Defined Cooperatives," Journal of Comparative Economics, Elsevier, vol. 18(2), pages 121-145, April.
    3. Grossman, Gene & Helpman, Elhanan, 1993. "Protection for Sale," CEPR Discussion Papers 827, C.E.P.R. Discussion Papers.
    4. Aghion, Philippe & Bolton, Patrick, 1992. "An Incomplete Contracts Approach to Financial Contracting," Review of Economic Studies, Wiley Blackwell, vol. 59(3), pages 473-94, July.
    5. 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.
    6. Susanto Basu & David D. Li, 1996. "Corruption and Reform," William Davidson Institute Working Papers Series 55, William Davidson Institute at the University of Michigan.
    7. Chang Chun & Wang Yijiang, 1994. "The Nature of the Township-Village Enterprise," Journal of Comparative Economics, Elsevier, vol. 19(3), pages 434-452, December.
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