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Institutional Change in Transitional Economies: The Case of Accounting in China


  • David Chu

    () (Department of Economics, College of the Holy Cross)

  • Kolleen Rask

    () (Department of Economics, College of the Holy Cross)

  • Thomas Gottschang

    () (Department of Economics, College of the Holy Cross)


A major economic mystery of the 1990s is why the transition to market-based systems has been so difficult. Key strategic services such as financial, legal, and accounting services are relatively deficient in transitional economies due to decades of being supplanted by the command structure. China's deliberate path of institutional change, which has allowed strategic services to evolve along with the market structure, stands in sharp contrast to the Eastern European emphasis on liberalization and privatization. Regenerating the professional personnel, legal framework and standards is a difficult task. We offer a detailed case study of the accounting profession in China, illustrating both the necessity and the complexity of the solution.

Suggested Citation

  • David Chu & Kolleen Rask & Thomas Gottschang, 1998. "Institutional Change in Transitional Economies: The Case of Accounting in China," Working Papers 9804, College of the Holy Cross, Department of Economics.
  • Handle: RePEc:hcx:wpaper:9804

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    References listed on IDEAS

    1. Christensen, Laurits R & Jorgenson, Dale W, 1969. "The Measurement of U.S. Real Capital Input, 1929-1967," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 15(4), pages 293-320, December.
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    Cited by:

    1. Chiapello, Eve & Ding, Yuan, 2005. "Searching for the accounting features of capitalism: an illustration with the economic transition process in China," Les Cahiers de Recherche 817, HEC Paris.
    2. Joliet, Robert & Muller, Aline, 2016. "Are foreign earnings disclosures value-relevant?," Research in International Business and Finance, Elsevier, vol. 37(C), pages 170-183.
    3. Sami, Heibatollah & Zhou, Haiyan, 2004. "A comparison of value relevance of accounting information in different segments of the Chinese stock market," The International Journal of Accounting, Elsevier, vol. 39(4), pages 403-427.
    4. David Chu & Kolleen Rask, 2000. "The Transformation of China’s Health Care System and Accounting Methods: Current Reforms and Developments," Working Papers 0003, College of the Holy Cross, Department of Economics.

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    Accounting; China; transition economies;


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