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Challenges of China;s Economic System for Economic Theory

  • Gregory C. Chow

    (Princeton University)

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    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

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    Paper provided by EconWPA in its series Microeconomics with number 0306002.

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    Date of creation: 11 Jun 2003
    Date of revision:
    Handle: RePEc:wpa:wuwpmi:0306002
    Note: Published AER Vol 87, No 2, pp 321-327
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    1. Bolton, Patrick, 1990. "Renegotiation and the dynamics of contract design," European Economic Review, Elsevier, vol. 34(2-3), pages 303-310, May.
    2. Grossman, G.M. & Helpman, E., 1992. "Protection for Sale," Papers 21-92, Tel Aviv.
    3. M Weitzman & Cheng-Gang Xu, 1993. "Chinese township village enterprises as vaguely defined cooperations," LSE Research Online Documents on Economics 3754, London School of Economics and Political Science, LSE Library.
    4. repec:tpr:qjecon:v:109:y:1994:i:1:p:183-209 is not listed on IDEAS
    5. Susanto Basu & David D. Li, 1996. "Corruption and Reform," William Davidson Institute Working Papers Series 55, William Davidson Institute at the University of Michigan.
    6. Chang Chun & Wang Yijiang, 1994. "The Nature of the Township-Village Enterprise," Journal of Comparative Economics, Elsevier, vol. 19(3), pages 434-452, December.
    7. Aghion, Philippe & Bolton, Patrick, 1992. "An Incomplete Contracts Approach to Financial Contracting," Review of Economic Studies, Wiley Blackwell, vol. 59(3), pages 473-94, July.
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