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Inflation and Investment Controls in China

Author

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  • Huang,Yasheng

Abstract

How has the Chinese central government been able to avoid the crippling hyperinflation that has bedeviled so many developing and centrally planned economies? China's unique, de facto federalism, Huang argues - a combination of economic and fiscal decentralization and strong political centralization - has spurred economic growth and allowed political institutions to impose restraints on inflation from the top down. Focusing on central-local relations and the controlling role of political institutions, Yasheng Huang explains why local Chinese officials comply, even against their own economic interests, with the investment-reduction and inflation-control policies of the central government. Drawing upon institutional economics, he hypothesizes that the central government's powerful role in appointing and firing bureaucrats at the local level helps to reconcile some of the central-local economic policy differences. Huang uses systematic data analysis to test this proposition. This book also offers detailed descriptions of the roles of local governments in economic and investment management.

Suggested Citation

  • Huang,Yasheng, 1996. "Inflation and Investment Controls in China," Cambridge Books, Cambridge University Press, number 9780521554831.
  • Handle: RePEc:cup:cbooks:9780521554831
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    Citations

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    Cited by:

    1. Bai, Chong-En & Tao, Zhigang & Tong, Yueting Sarah, 2008. "Bureaucratic integration and regional specialization in China," China Economic Review, Elsevier, vol. 19(2), pages 308-319, June.
    2. Yuan Li, 2014. "Downward accountability in response to collective actions," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 22(1), pages 69-103, January.
    3. Li, Yuan, 2013. "Downward Accountability in Response to Collective Actions: The Political Economy of Public Goods Provision in China," Stockholm School of Economics Asia Working Paper Series 2013-26, Stockholm School of Economics, Stockholm China Economic Research Institute.
    4. Li, Hongbin & Zhou, Li-An, 2005. "Political turnover and economic performance: the incentive role of personnel control in China," Journal of Public Economics, Elsevier, vol. 89(9-10), pages 1743-1762, September.
    5. Jieming Zhu, 2004. "Local developmental state and order in China's urban development during transition," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 28(2), pages 424-447, June.
    6. Harry X. Wu & Eric Girardin, 2016. "The ‘new’ normal is ‘old’ in China: Very late catching up and return to the (pre-WTO) old normal," EcoMod2016 9721, EcoMod.
    7. L. Alan Winters & Shahid Yusuf, 2007. "Dancing with the Giants: China, India, and the Global Economy," World Bank Publications, The World Bank, number 6632.
    8. Wang, Qian & Wong, T.J. & Xia, Lijun, 2008. "State ownership, the institutional environment, and auditor choice: Evidence from China," Journal of Accounting and Economics, Elsevier, vol. 46(1), pages 112-134, September.
    9. Hongbin Li & Li-An Zhou, 2003. "Political Turnover and Economic Performance: The Disciplinary Role of Personnel Control in China," Discussion Papers 00002, Chinese University of Hong Kong, Department of Economics.
    10. Hong, Wei, 2008. "Decline of the center: The decentralizing process of knowledge transfer of Chinese universities from 1985 to 2004," Research Policy, Elsevier, vol. 37(4), pages 580-595, May.

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