Why China's Economy Consistently Experiences Wide Fluctuations
Since the founding of the People's Republic more than forty years ago, China has experienced numerous economic cycles and economic readjustments. One of the characteristic regularities of China's economic development is the cyclic fluctuation manifested as the rise-fall-rise again-fall again of the economic growth rate, which is accompanied by a recurrent vacillation of expansion-retrenchment (readjustment)-expansion again-retrenchment again (readjustment again) in economic policy. The wide fluctuations are one of the most distinctive features of China's economic development, as well as one of the direct causes of contradictions and conflicts in Chinese society. The fluctuation coefficient of China's economy is considerably higher than it is in the Western countries, and far higher than the world average. Between 1960 and 1989, the fluctuation coefficient of China's economy was 1.8 times those of Yugoslavia, Britain, and India; 2.2 times that of the United States; 2.6 times that of Japan; 3.0 times that of South Korea; 3.4 times that of the former Soviet Union; and 4.3 times the world average. A large body of data and many facts indicate that the cyclic fluctuations in China's economy have been painfully obvious, that economic growth has been extremely unstable, and that these violent and frequent cyclic oscillations have seriously impeded any sustainable economic development in China.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 29 (1996)
Issue (Month): 3 (May)
|Contact details of provider:|| Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=110901|
When requesting a correction, please mention this item's handle: RePEc:mes:chinec:v:29:y:1996:i:3:p:59-64. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Nguyen)The email address of this maintainer does not seem to be valid anymore. Please ask Chris Nguyen to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.