The Political Economy of China’s Great Transformation consists of three parts: first, covering the current political transformation, providing a general political background for the socio-economic, fiscal and urban and rural transformation.
The book analyses the economic transformation and addresses the shortcomings of existing interpretations of the "Chinese Miracle" and develops a new multi-dimensional framework. In addition, it shows how the private sector has been developing and what a major role it is playing in pushing forward the overall economic development.
The book also focuses on the analysis of China’s fiscal transformation. With the set of refined principles of fiscal federalism that the author has developed, it examines the problems of Chinese fiscal federalism in contrast to them. It further elaborates on topics such as the local government debt and explains why further reforms are necessary, making this book a very comprehensive read to understand China’s progress.
"Overall, the book contributes to the analysis of China’s institutional change in the reform era. The book is suitable for a scholarly audience. Students of China’s fiscal system and public finance, in particular, will find this book a valuable addition."
Philippe Martin, PhD Candidate in the School of Political Studies at the University of Ottawa, Ontario, Journal of Chinese Political Science
Part I: Political transformation in China
1. Political development in contemporary China
2. The "Chinese Dream" deconstructed: values and institutions
Part II: Economic transformation in China
3. Re-interpreting the "Chinese Miracle"
4. Private sector development as the key to Chinese economic development
5. Capital freedom: evidence from China's provinces
Part III: Fiscal transformation in China
6. Fiscal federalism: a refined theory and its application in the Chinese context
7. Local government debt and municipal bonds in China: problems and a framework of rules
8. Competitive governments, fiscal arrangements and the provision of local public infrastructure in China: a theory-driven study of Gujiao municipality
9. Features, problems and reform of the county fiscal administrative system in China