In the thirty years since China initiated economic reforms and its open-door policy, China has been transformed from a poor nation almost completely isolated from the global economy to an engine of growth of the world economy. China’s dynamic transition has been among the most dramatic developments of recent history; and its economy continues to grow rapidly, with important consequences for China’s own society and environment, as well as for the wider world. This book provides a fascinating insight into a wide range of issues on Chinese economy and its three decades of economic reforms. With well-researched, in-depth and comprehensive coverage of key topics, using the latest research findings, this book covers Chinese monetary policy and financial sector reforms; China’s income disparities; the emergence of China’s business groups; the implications of foreign direct investment and innovation and technological developments. The book will be an indispensable guide to scholars, entrepreneurs, policy-makers and all who are interested in China’s economic affairs.
Part I: Overview 1: Success and Challenges: Overview of China’s Economic Growth and Reform since 1978 - Wei Zhang and Xiaohui Liu Part II: Financial Sector Reforms and Monetary Policy 2: Mission Completed or Problems Unsolved? A Policy Review of China’s Banking Reform - Charles C L Kwong 3: Entry Behaviour of Foreign Banks in the Chinese Banking Market - Yue Xu and Joseph G Nellis 4: The Price-earning Ratios in Chinese Stock Market: an Empirical Investigation - Mohamed El Hedi Arouri and Chenxiang Liu 5: Cost Efficiency Analysis in Banking Industries of Ten Asian Countries and Regions - Zhi Shen, Hailin Liao and Thomas Weyman-Jones 6: An Analysis of Chinese Money and Prices Using a McCallum-type Rule - Tuuli Koivu, Aaron Mehrotra and Riikka Nuutilainen 7: External adjustment failure and cross-currency speculation: Can China be affected? - Heiner Flassbeck and Massimiliano La Marca Part III: Economic Reforms and China’s Income Disparities 8: China's provincial disparities and the determinants of provincial inequality - Thomas Gries and Margarethe Redlin 9: Understanding the income inequality between inland and coastal China: A systematic perspective - Rui Hao and Zheng Wei 10: Equipment Investment and Openness in China - M.J. Herrerias and Vicente Orts Part IV: Innovation, Corporate Governance and Productivity 11: International Knowledge Spillovers through Returning Entrepreneurs and Innovation in Chinese High-tech Small and Medium Enterprises - Ou Dai and Xiaohui Liu 12: Corporate Governance and Technological Development in Chinese Firms - Andrew Tylecote 13: The limits to university-industry collaboration in Beijing’s science park - Peter Dickenson and Matias Ramirez 14: How Does the Productivity of Foreign Direct Investment Spill over to Local Firms in Chinese Manufacturing? - Adam Blake, Ziliang Deng and Rod Falvey 15: Agricultural Labour and the Incidence of Surplus Labour: Experience from China during Reform - Fung Kwan Part V: The Emergence of China’s Business Groups 16: China’s Business Groups After Three Decades of Economic Reform: Diversified Conglomerates or Focused Industrial Groups? - Dylan Sutherland and Lutao Ning 17: Dynamics of Mergers and Acquisitions in the Electricity Industry in China: A Social Network Approach - Lei Wang and Beiqing Han