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Challenges of China;s Economic System for Economic Theory

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  • Gregory C. Chow

    (Princeton University)

Abstract

The challenges in the market economy in China for economic theory touch on four topics: private versus public ownership of assets, Western legal systems versus Eastern European semiformal legal systems, individualism versus the collective good, and multiparty versus one party political systems. I came in contact with these issues while advising the government of Taiwan in the 1960's and 1970's, and the government of mainland China in the 1980's and 1990's.y

Suggested Citation

  • Gregory C. Chow, 2003. "Challenges of China;s Economic System for Economic Theory," Microeconomics 0306002, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpmi:0306002
    Note: Published AER Vol 87, No 2, pp 321-327
    as

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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/mic/papers/0306/0306002.pdf
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    References listed on IDEAS

    as
    1. Grossman, Gene M & Helpman, Elhanan, 1994. "Protection for Sale," American Economic Review, American Economic Association, vol. 84(4), pages 833-850, September.
    2. Philippe Aghion & Patrick Bolton, 1992. "An Incomplete Contracts Approach to Financial Contracting," Review of Economic Studies, Oxford University Press, vol. 59(3), pages 473-494.
    3. Chang Chun & Wang Yijiang, 1994. "The Nature of the Township-Village Enterprise," Journal of Comparative Economics, Elsevier, vol. 19(3), pages 434-452, December.
    4. Susanto Basu & David D. Li, 1996. "Corruption and Reform," William Davidson Institute Working Papers Series 55, William Davidson Institute at the University of Michigan.
    5. Weitzman Martin L. & Xu Chenggang, 1994. "Chinese Township-Village Enterprises as Vaguely Defined Cooperatives," Journal of Comparative Economics, Elsevier, vol. 18(2), pages 121-145, April.
    6. Theodore Groves & Yongmiao Hong & John McMillan & Barry Naughton, 1994. "Autonomy and Incentives in Chinese State Enterprises," The Quarterly Journal of Economics, Oxford University Press, vol. 109(1), pages 183-209.
    7. Bolton, Patrick, 1990. "Renegotiation and the dynamics of contract design," European Economic Review, Elsevier, vol. 34(2-3), pages 303-310, May.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Microeconomics;

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • F49 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Other
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy

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