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Coordinating Supply-Side Reform and Demand-Side Management

Author

Listed:
  • FANG Fuqian

    (School of Economics, Renmin University of China, Beijing 100872, China)

Abstract

In essence, understanding the relationship between supply-side structural reform and demand-side management requires grasping the interplay between supply and demand. Supply and demand are interdependent and interactive, and their equilibrium determines the equilibrium values of micro and macroeconomic variables. Focusing solely on either supply or demand, regardless of the time length, is one-sided. To promote supply-side structural reform, China should depend on demand and take a measured approach to its expansion. In the absence of demand, the supply-side structural reform would lose its direction and purpose. Enhancing demand-side management involves delving deeper into supply-side structural reform because the scale and growth of demand, alongside changes in demand structure, are fundamentally influenced by institutional factors. Hence, further reforming the systems and mechanisms that hinder the optimization of demand structure and the growth of demand is precisely what supply-side structural reform should entail.

Suggested Citation

  • FANG Fuqian, 2023. "Coordinating Supply-Side Reform and Demand-Side Management," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 18(3), pages 309-323, September.
    • Handle: RePEc:fec:journl:v:18:y:2023:i:3:p:309-323
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    File URL: https://journal.hep.com.cn/fec/EN/10.3868/s060-017-023-0018-8
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