IDEAS home Printed from https://ideas.repec.org/a/cuf/journl/y2004v5i1p127-152.html
   My bibliography  Save this article

Economic Reform and Growth in China

Author

Listed:
  • Gregory C. Chow

    (Department of Economics, Princeton University)

Abstract

This paper surveys (1)the reasons for economic reform in China to be introduced in 1978, (2)the major components of economic reform, (3) the characteristics of the reform process, (4) why reform was successful, (5) the shortcomings of China¡¯s economic institutions, (6) the factors contributing to rapid economic growth, and (7) the future prospects of further reform and growth, with important conclusions summarized in the last section concerning economic reform in general. Much of the material is drawn from the author¡¯s book China¡¯s Economic Transformation(Blackwell, 2002).

Suggested Citation

  • Gregory C. Chow, 2004. "Economic Reform and Growth in China," Annals of Economics and Finance, Society for AEF, vol. 5(1), pages 127-152, May.
    • Handle: RePEc:cuf:journl:y:2004:v:5:i:1:p:127-152
    as

    Download full text from publisher

    File URL: http://www.aeconf.net/Articles/May2004/aef050107.pdf
    Download Restriction: no
    File URL: http://down.aefweb.net/AefArticles/aef050107.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Gregory C. Chow, 1993. "Capital Formation and Economic Growth in China," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(3), pages 809-842.
    2. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(2), pages 407-437.
    3. Gary H. Jefferson & Thomas G. Rawski, 1994. "Enterprise Reform in Chinese Industry," Journal of Economic Perspectives, American Economic Association, vol. 8(2), pages 47-70, Spring.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jose Miguel Albala-Bertrand, 2013. "Evolution of Structural Indicators. China and Regions: 1981-2010," Working Papers 701, Queen Mary University of London, School of Economics and Finance.
    2. Yuwen Dai, 2007. "Macro Regime and Economic Growth in China," DEGIT Conference Papers c012_015, DEGIT, Dynamics, Economic Growth, and International Trade.
    3. Denis Nitikin & Chunli Shen & Qian Wang & Heng-fu Zou, 2012. "Water Service Delivery Reform in China: Safeguarding the Interests of the Poor," Annals of Economics and Finance, Society for AEF, vol. 13(2), pages 463-487, November.
    4. Cheung, Diana & Padieu, Ysaline, 2015. "Heterogeneity of the Effects of Health Insurance on Household Savings: Evidence from Rural China," World Development, Elsevier, vol. 66(C), pages 84-103.
    5. Fadun Solomon Olajide, 2014. "Cultural Awareness, a Form of Risk Management in International Business: Case Study of China," Business and Economic Research, Macrothink Institute, vol. 4(1), pages 266-288, June.
    6. He, Qichun, 2011. "Home-bias Politics, Financial Deregulation and Economic Growth: A Causal Relationship," MPRA Paper 34482, University Library of Munich, Germany.
    7. Valentina Anzoise & Debora Slanzi & Irene Poli, 2020. "Local stakeholders’ narratives about large-scale urban development: The Zhejiang Hangzhou Future Sci-Tech City," Urban Studies, Urban Studies Journal Limited, vol. 57(3), pages 655-671, February.
    8. Kang, Byeongwoo, 2014. "The innovation process of a privately-owned enterprise and a state-owned enterprise in China," IDE Discussion Papers 470, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    9. Denis Nitikin & Chunli Shen & Qian Wang & Heng-fu Zou, 2011. "Land Taxation in China: Assessment of Prospects for Politically and Economically Sustainable Reform," CEMA Working Papers 431, China Economics and Management Academy, Central University of Finance and Economics.
    10. Kong, Xiaoran & Zhang, Xueying & Yan, Cheng & Ho, Kung-Cheng, 2022. "China's historical imperial examination system and corporate social responsibility," Pacific-Basin Finance Journal, Elsevier, vol. 72(C).
    11. Hongbo Wang & Dan Rickman, 2018. "Regional growth differences in China for 1995–2013: an empirical integrative analysis of their sources," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 60(1), pages 99-117, January.
    12. Yongbo Ge & Xiaoran Kong & Geilegeilao Dadilabang & Kung‐Cheng Ho, 2023. "The effect of Confucian culture on household risky asset holdings: Using categorical principal component analysis," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 839-857, January.
    13. Laura Diaconu (Maxim) & Cristian Constantin Popescu & Andrei Maxim, 2020. "Challenges for China’s Sustainable Growth," Scientific Annals of Economics and Business (continues Analele Stiintifice), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 67(1), pages 117-137, March.
    14. He, Qichun, 2011. "Does Growth Cause Financial Deregulation in China? An Instrumental Variables Approach," MPRA Paper 34449, University Library of Munich, Germany.
    15. Wan-wen Chu, 2017. "Inductive method and development perspective: Alice Amsden on Taiwan and beyond," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 10(1), pages 15-34.
    16. Pooja Khanna, 2021. "Impact of Trade Liberalisation on the Informal Sector—A Study for the BRICS," The Indian Journal of Labour Economics, Springer;The Indian Society of Labour Economics (ISLE), vol. 64(1), pages 101-113, March.
    17. LI, Hongyi & HUANG, Liang, 2009. "Health, education, and economic growth in China: Empirical findings and implications," China Economic Review, Elsevier, vol. 20(3), pages 374-387, September.
    18. Glawe, Linda & Wagner, Helmut, 2017. "A stylized model of China’s growth since 1978," CEAMeS Discussion Paper Series 5/2017, University of Hagen, Center for East Asia Macro-economic Studies (CEAMeS), revised 2017.
    19. Sin-Yu Ho & Bernard Njindan Iyke, 2018. "Finance-growth-poverty nexus: a re-assessment of the trickle-down hypothesis in China," Economic Change and Restructuring, Springer, vol. 51(3), pages 221-247, August.
    20. Wang Jinying & Pene Zongabiro Nina Pelagie, 2014. "Determinants of Entrepreneurial Intention among African Students in China," International Journal of Higher Education, Sciedu Press, vol. 3(4), pages 106-106, November.
    21. Pene Zongabiro Nina Pelagie, 2014. "The Contribution of Village Palm Grove to the Cameroonian Rural Economic Development," Research in World Economy, Research in World Economy, Sciedu Press, vol. 5(2), pages 159-168, September.
    22. Wang, Chan, 2012. "A very preliminary survey on growth and development," MPRA Paper 39037, University Library of Munich, Germany.
    23. Kadochnikov, Pavel (Кадочников, Павел) & Ptashkina, Maria (Пташкина, Мария), 2014. "The liberalization of foreign trade in China: Meeting the Challenges of the beginning of the 1990s [Либерализация Внешней Торговли В Китае: Ответ На Вызовы Начала 1990-Х Годов]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 103-113, December.
    24. Xiaohua Wang & Zhi Luo & Tianyi Wang & Zhuo Huang, 2017. "The Impact of Privatization on TFP: a Quasi-Experiment in China," Annals of Economics and Finance, Society for AEF, vol. 18(1), pages 53-71, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Murach, Michael & Wagner, Helmut & Kim, Jungsuk & Park, Donghyun, 2022. "Trajectories to high income: Comparing the growth dynamics in China, South Korea, and Japan with cointegrated VAR models," Structural Change and Economic Dynamics, Elsevier, vol. 62(C), pages 492-511.
    2. Liu, Tung & Li, Kui-Wai, 2006. "Disparity in factor contributions between coastal and inner provinces in post-reform China," China Economic Review, Elsevier, vol. 17(4), pages 449-470.
    3. Li, Huagang, 1999. "State factories in transition--openness, competition, and productivity," Journal of Development Economics, Elsevier, vol. 58(2), pages 429-462, April.
    4. Chong-En Bai & Qiong Zhang, 2017. "Is the People's Republic of China's current slowdown a cyclical downturn or a long-term trend? A productivity-based analysis," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 22(1), pages 29-46, January.
    5. Daren, Conrad, 2007. "Education and Economic Growth: Is There a Link?," MPRA Paper 18176, University Library of Munich, Germany, revised 2009.
    6. Mario Biggeri & Danilo Gambelli & Christine Phillips, 1999. "Small and medium enterprise theory: evidence for Chinese TVEs," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(2), pages 197-219.
    7. Diego Romero-Ávila, 2013. "Is Physical Investment The Key To China'S Growth Miracle?," Economic Inquiry, Western Economic Association International, vol. 51(4), pages 1948-1971, October.
    8. Rui HAO & Zheng WEI, 2009. "Sources Of Income Differences Across Chinese Provinces During The Reform Period: A Development Accounting Exercise," The Developing Economies, Institute of Developing Economies, vol. 47(1), pages 1-29, March.
    9. Lili Kang & Fei Peng, 2018. "Economic Reform and Productivity Convergence in China," Arthaniti: Journal of Economic Theory and Practice, , vol. 17(1), pages 50-82, June.
    10. Conrad, Daren, 2017. "Education's Contribution to Economic Growth," MPRA Paper 77365, University Library of Munich, Germany.
    11. Liu, Yiming & Hao, Yu & Gao, Yixuan, 2017. "The environmental consequences of domestic and foreign investment: Evidence from China," Energy Policy, Elsevier, vol. 108(C), pages 271-280.
    12. Kashif Munir & Shahzad Arshad, 2018. "Factor accumulation and economic growth in Pakistan: incorporating human capital," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 45(3), pages 480-491, March.
    13. Ljungwall, Christer, 2005. "State fixed investment and non-state sector growth in China," Journal of Policy Modeling, Elsevier, vol. 27(2), pages 211-229, March.
    14. Fleisher, Belton & Li, Haizheng & Zhao, Min Qiang, 2010. "Human capital, economic growth, and regional inequality in China," Journal of Development Economics, Elsevier, vol. 92(2), pages 215-231, July.
    15. Harry X. Wu, 2011. "Rethinking China's Path of Industrialization," WIDER Working Paper Series wp-2011-076, World Institute for Development Economic Research (UNU-WIDER).
    16. He, Qichun & Zou, Heng-fu, 2016. "Does inflation cause growth in the reform-era China? Theory and evidence," International Review of Economics & Finance, Elsevier, vol. 45(C), pages 470-484.
    17. Qichun He, 2011. "Does FDI Promote Human Capital Accumulation? The Role of Gradual Financial Liberalization," CEMA Working Papers 455, China Economics and Management Academy, Central University of Finance and Economics.
    18. Maria Dacosta & Wayne Carroll, 2001. "Township and Village Enterprises, Openness and Regional Economic Growth in China," Post-Communist Economies, Taylor & Francis Journals, vol. 13(2), pages 229-241.
    19. Chow, Clement Kong-Wing & Fung, Michael Ka-Yiu, 1997. "Measuring the Technological Leadership of International Joint Ventures in a Transforming Economy," Journal of Business Research, Elsevier, vol. 39(2), pages 147-157, June.
    20. Bharati Basu & Jianfeng Yao, 2009. "Foreign Direct Investment and Skill Formation in China," International Economic Journal, Taylor & Francis Journals, vol. 23(2), pages 163-179.

    More about this item

    Keywords

    China; Economic reform; Economic growth; Institutional changes; Economic policy;
    All these keywords.

    JEL classification:

    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies
    • P3 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions
    • N00 - Economic History - - General - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cuf:journl:y:2004:v:5:i:1:p:127-152. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Qiang Gao (email available below). General contact details of provider: https://edirc.repec.org/data/emcufcn.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.