Growth without Miracles: Readings on the Chinese Economy in the Era of Reform

Paperback | October 1, 2000

EditorRoss Garnaut, Yiping Huang

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China's economic reform constitutes one of the most remarkable events of the second half of the twentieth century. It not only significantly improved the living conditions of the Chinese population but also provides a useful model of economic transition from central planning to a marketeconomy. The gradual approach to reform adopted by the Chinese was widely regarded as suboptimal and likely to fail when compared to the shock therapy method applied in the former Soviet Union and the Eastern European economies. But China has out-performed other transitional economies. To many observers the Chinese experience is either a myth or a miracle. This volume addresses key questions about the initial economic foundations, the reform of macroeconomic policies and macroeconomic stability, the achievements of agricultural reform and the agricultural policy choices facingthe Chinese government, the unique characteristics of the township and village enterprises, the successful reform of the state-owned enterprises, the development of factor markets, the contributions of the external sectors to economic growth, the lessons of the Chinese experience for transitionaleconomies, and the challenges for economic threory. Growth without Miracles brings together thirty widely cited articles by prominent economists in the field of China studies to offer authoritative and through assessment and analyses of Chinas experience during the reform period. It provides a complete story for teachers and students of courses onthe Chinese economy and will be of considerable interest to researchers, officials, and business people who want to understand past experiences, current problems, and the future direction of the Chinese economy.

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China's economic reform constitutes one of the most remarkable events of the second half of the twentieth century. It not only significantly improved the living conditions of the Chinese population but also provides a useful model of economic transition from central planning to a marketeconomy. The gradual approach to reform adopted by...

Ross Garnaut is at The Australian National University. Yiping Huang is at The Australian National University.

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Format:PaperbackPublished:October 1, 2000Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199240590

ISBN - 13:9780199240593

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Table of Contents

Part 1 Introduction and OverviewRoss Garnaut: 1 The Economic Growth of the Chinese Economy: A Historical PerspectiveGeoff Raby: 2 The Neither This nor That EconomyDwight Perkins: 3 Completing Chinas Move to the MarketPart 2 Economic Foundations Before ReformMark Elvin: 4 Foundations for the Future: The Building of Modern Machinery in Shanghai before the Pacific WarJustin Yifu Lin, Fang Cai, and Zhou Li: 5 Pre-reform Economic Development in ChinaE. L. Jones: 6 A Long-Term Appraisal of Country RiskPart 3 Macroeconomic Policy and StabilityRoss Garnaut and Guonan Ma: 7 Economic Growth and Stability in ChinaShahid Yusuf: 8 Chinas Macroeconomic Performance and Management during TransitionPart 4 Agricultural PolicyTerry Sicular: 9 Plan and Market in Chinas Agricultural CommerceJustin Yifu Lin: 10 Rural Reforms and Agricultural Growth in ChinaYongzheng Yang and Yiping Huang: 11 How Should China Feed Itself?Part 5 Rural IndustrializationWilliam Byrd and Alan Gelb: 12 Township, Village, and Private Industry in Chinas Economic ReformChristopher Findlay and Andrew Watson: 13 Surrounding the Cities from the CountrysideChun Chang and Yijiang Wang: 14 The Nature of the Township-Village EnterpriseHehui Jin and Yingyi Qian: 15 Public vs. Private Ownership of Firms: Evidence from Rural ChinaPart 6 Enterprise Reform and Industrial DevelopmentGary H. Jefferson and Thomas G. Rawski: 16 Enterprise Reform in Chinese IndustryGroves, Y. Hong, John McMillan, and Barry Naughton: 17 Incentives and Autonomy in Chinese State EnterprisesJeffrey Sachs and Wing Thye Woo: 18 The State Sector under ReformYiping Huang and Xin Meng: 19 Chinas Industrial Growth and Efficiency: A Comparison between the State and the TVE sectorsPart 7 Factor Markets and IncomeJohn Knight and Lina Song: 20 Towards a Labour Market in ChinaLoraine A. West and Christine P. W. Wong: 21 Fiscal Decentralization and Growing Regional Disparities in Rural China: Some Evidence in the Provision of Social ServicesR. G. Gregory and Xin Meng: 22 Wage Determination and Occupational Attainment in the Rural Industrial Sector of ChinaAzizur Rahman Khan and Carl Riskin: 23 Income and Inequality in China: Composition, Distribution, and Growth of Household Income, 1988 to 1995Part 8 External SectorNicolas R. Lardy: 24 The Role of Foreign Trade and Investment in Chinas Economic TransformationLigang Song: 25 Institutional Change, Trade Composition, and Export Supply Potential in ChinaYongzheng Yang: 26 Chinas WTO Membership: Whats at Stake?Ross Garnaut and Yiping Huang: 27 Chinas Integration into the World EconomyPart 9 Lessons from Chinas ExperiencesJohn McMillan and Barry Naughton: 28 How to Reform a Planned Economy: Lessons from ChinaJeffrey Sachs and Wing Thye Woo: 29 Structural Factors in the Economic Reforms of ChinaGregory C. Chow: 30 Challenges of Chinas Economic System for Economic Theory