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China: Transition to a Market Economy

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  • Chai, Joseph C. H.

    (University of Queensland)

Abstract

At the heart of China's remarkable economic growth is a new economic system, which has emerged out of radical reforms in virtually all areas of economic activity. Understanding this system is the key to understanding the Chinese economy. This book, the culmination of many years of research in Hong Kong and China, is a comprehensive account of these systemic reforms, as well as of their transferability to other economies in transition. The starting-point of Dr Chai's analysis is a careful examination of the structural elements of China's new economic system, focusing particularly on the decentralization of property rights in both the agricultural and industrial sectors. There follows a detailed analysis of changes in the functional elements of the system: its price and financial mechanisms. An assessment of the open-door policy also considers the twin impact of the liberalization of China's foreign trade and foreign investment regimes. Finally, China: Transition to a Market Economy highlights the increasingly important role of the non-state sector in facilitating economic growth and structural transformation. It will be essential reading for any student or researcher concerned with the Chinese economy, or with transition economies in general

Suggested Citation

  • Chai, Joseph C. H., 1998. "China: Transition to a Market Economy," OUP Catalogue, Oxford University Press, number 9780198294306.
    • Handle: RePEc:oxp:obooks:9780198294306
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    Citations

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    Cited by:

    1. Chai, Joseph C.H., 2000. "Trade and Environment: Evidence from China's Manufacturing Sector," Economics, Ecology and Environment Working Papers 48005, University of Queensland, School of Economics.
    2. James Laurenceson & J. C. H. Chai, 2001. "State banks and economic development in China," Journal of International Development, John Wiley & Sons, Ltd., vol. 13(2), pages 211-225.
    3. Ho, Daniel & Lau, Alex & Young, Angus, 2012. "Enterprise ownership and control in China: Governance with a Chinese twist," Business Horizons, Elsevier, vol. 55(6), pages 575-582.
    4. Krishna Chaitanya Vadlamannati, 2009. "Indian Economic Reforms and Foreign Direct Investment," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 10(1), pages 31-59, January.
    5. Dr James Laurenceson, 2002. "External Financial Liberalization and Foreign Debt in China," Discussion Papers Series 304, School of Economics, University of Queensland, Australia.
    6. Vadlamannati, Krishna Chaitanya, 2008. "Economic Interest versus Social Conscience Signing Bilateral Investment Treaties – Does Human Rights Matter?," MPRA Paper 15431, University Library of Munich, Germany.
    7. James Laurenceson & Kam Ki Tang, "undated". "Estimating China�s de-facto capital account convertibility," EAERG Discussion Paper Series 0205, School of Economics, University of Queensland, Australia.
    8. Joseph C. H. Chai, 2002. "Trade and environment: evidence from China's manufacturing sector," Sustainable Development, John Wiley & Sons, Ltd., vol. 10(1), pages 25-35.
    9. Lee, Chien-Chiang & He, Zhi-Wen, 2022. "Natural resources and green economic growth: An analysis based on heterogeneous growth paths," Resources Policy, Elsevier, vol. 79(C).
    10. Bai, Ying & Kung, James Kai-sing, 2014. "The shaping of an institutional choice: Weather shocks, the Great Leap Famine, and agricultural decollectivization in China," Explorations in Economic History, Elsevier, vol. 54(C), pages 1-26.

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