Economic Reform in Modern China

Edited by Wei Zhang

© 2011 – Routledge

1,736 pages

Purchasing Options:
Hardback: 9780415560689
pub: 2011-05-26
US Dollars$1475.00

About the Book

It is more than three decades since China initiated its economic reform and open-door policies. During that period, China has successfully transformed itself from an inefficient centrally-planned economy to a fast-growing market-orientated economy. To the rest of the world, China has emerged from the condition of a poor and completely isolated nation to become the most powerful engine of global economic growth. China’s dynamic economic transition and development, especially its performance in the current world financial crisis, have attracted considerable worldwide interest.

This new Routledge collection answers the need for a reference work to allow researchers and students to gain a better understanding of the history and development of Chinese economic reform. The gathered classic and cutting-edge scholarship covers a wide range of critical issues in the modern Chinese economy, with the particular focus on the period after 1978 when China embarked on economic reform and integration into the global economy.

Economic Reform in Modern China is supplemented with a full index and includes a comprehensive introduction, newly written by the editor, which places the collected material in its historical and intellectual context. It is destined to be valued by scholars, students, and researchers as a vital research resource.

Table of Contents

Volume I: Macroeconomic Reform and Growth

Part 1: Chinese Economy Before the Reform

1. Audrey Donnithorne, ‘China’s Economic Planning and Industry’, China Quarterly, 1964, 17, 111–24.

2. Y. Y. Kueh, ‘The Maoist Legacy and China’s New Industrialization Strategy’, China Quarterly, 1989, 119, 420–47.

3. Justin Yifu Lin, ‘Collectivization and China’s Agricultural Crisis in 1959–1961’, Journal of Political Economy, 1990, 98, 6, 1228–52.

Part 2: Strategy of Economic Reform

4. Jeffrey D. Sachs and Wing Thye Woo, ‘Understanding China’s Economic Performance’, Journal of Economic Policy Reform, 2000, 4, 1, 1–50.

5. Thomas G. Rawski, ‘Reforming China’s Economy: What Have We Learned?’, China Journal, 1999, 41, 139–52.

6. Lawrence J. Lau, Yingyi Qian, and Gerard Roland, ‘Reform without Losers: An Interpretation of China’s Dual-Track Approach to Transition’, Journal of Political Economy, 2001, 108, 1, 120–43.

Part 3: Economic Growth

7. Alwyn Young, ‘Gold into Base Metals: Productivity Growth in the People’s Republic of China during the Reform Period’, Journal of Political Economy, 2003, 111, 6, 1220–61.

8. Yan Wang and Yudong Yao, ‘Sources of China’s Economic Growth, 1952–1999: Incorporating Human Capital Accumulation’, China Economic Review, 2003, 14, 1, 32–52.

9. Andy C. Kwan, Yangru Wu, and Junxi Zhang, ‘Fixed Investment and Economic Growth in China’, Economics of Planning, 1999, 32, 1, 67–79.

10. Eswar S. Prasad, ‘Is the Chinese Growth Miracle Built to Last?’, China Economic Review, 2009, 20, 103–23.

11. Harry X. Wu, ‘The Chinese GDP Growth Rate Puzzle: How Fast Has the Chinese Economy Grown?’, Asian Economic Papers, 2007, 6, 1–23.

Part 4: Monetary and Fiscal Systems and Policies

12. Richard C. K. Burdekin and Pierre L. Siklos, ‘What has Driven Chinese Monetary Policy Since 1990? Investigating the People’s Bank’s Policy Rule’, Journal of International Money and Finance, 2008, 27, 847–59.

13. Wenlang Zhang, ‘China’s Monetary Policy: Quantity Versus Price Rules’, Journal of Macroeconomics, 2009, 31, 3, 473–84.

14. Hehui Jin, Yingyi Qian, and Barry R. Weingast, ‘Regional Decentralization and Fiscal Incentives: Federalism, Chinese Style’, Journal of Public Economics, 2005, 89, 1719–42.

15. Shuanglin Lin, ‘China’s Value-Added Tax Reform, Capital Accumulation, and Welfare Implications’, Chinese Economic Review, 2008, 19, 2, 197–214.

16. Liping He, ‘Has Fiscal Federalism Worked for Macroeconomic Purposes? The Chinese Experience 1994–2003’, China & World Economy, 2008, 16, 1, 17–33.

Volume II: Microeconomic Reform

Part 5: Rural Reform

17. Jean C. Oi, ‘Two Decades of Rural Reform in China: An Overview and Assessment’, China Quarterly, 1999, 159, 616–28.

18. Justin Yifu Lin, ‘The Household Responsibility System in China’s Agricultural Reform: A Theoretical and Empirical Study’, Economic Development and Cultural Change, 1988, 36, 3, 199–224.

19. Albert Park and Scott Rozelle, ‘Reforming State-Market Relations in Rural China’, Economics of Transition, 1998, 6, 2, 461–80.

20. Hongbin Li and Scott Rozelle, ‘Privatizing Rural China: Insider Privatization, Innovative Contracts and the Performance of Township Enterprises’, China Quarterly, 2003, 176, 981–1005.

21. Chun Chang, Brian P. McCall, and Yijiang Wang, ‘Incentive Contracting Versus Ownership Reforms: Evidence from China’s Township and Village Enterprises’, Journal of Comparative Economics, 2003, 31, 414–28.

Part 6: Transformation of State-Owned Enterprises

22. Guy S. Liu, Pei Sun, and Wing Thye Woo, ‘The Political Economy of Chinese-Style Privatization: Motives and Constraints’, World Development, 2006, 34, 12, 2016–33.

23. Peter Nolan and Wang Xiaoqiang, ‘Beyond Privatization: Institutional Innovation and Growth in China’s Large State-Owned Enterprises’, World Development, 1999, 21, 1, 169–200.

24. Cyril Z. Lin, ‘Corporatisation and Corporate Governance in China’s Economic Transition’, Journal of Economics of Planning, 2001, 34, 1–2, 5–35.

25. Anita Chan and Jonathan Unger, ‘A Chinese State Enterprise under the Reforms: What Model of Capitalism?’, China Journal, 2009, 62, 1–26.

Part 7: Process of Marketization

26. Fureng Dong, ‘China’s Price Reform’, Cambridge Journal of Economics, 1986, 10, 291–300.

27. Yushi Mao and Paul Hare, ‘Chinese Experience in the Introduction of a Market Mechanism into a Planned Economy: The Role of Pricing’, Journal of Economic Surveys, 1989, 3, 2, 137–58.

28. Xiaobo Zhang, ‘Incremental Reform and Distortions in China’s Product and Factor Markets’, World Bank Economic Review, 2007, 21, 2, 279–99.

29. Anthony Y. C. Koo and Norman P. Obst, ‘Dual-Track and Mandatory Quota in China’s Price Reform’, Comparative Economic Studies, 1995, 37, 1, 1–17.

Part 8: Reform of the Financial Sector

30. Richard Podpiera, ‘Progress in China’s Banking Sector Reform: Has Bank Behaviour Changed?’ (IMF Working Papers, 2006, 06/71).

31. Nicholas R. Lardy, ‘The Challenge of Bank Restructuring in China’, in Strengthening the Banking System in China: Issues and Experience (Bank for International Settlements Policy Papers No. 7, 1999), pp. 17–39.

32. Lawrence J. Lau, ‘The Macroeconomy and Reform of the Banking Sector in China’, in Strengthening the Banking System in China: Issues and Experience (Bank for International Settlements Policy Papers No. 7, 1999), pp. 59–89.

33. Yasushi Suzuki, Md. Dulal Miah, and Jinyi Yuan, ‘China’s Non-Performing Bank Loan Crisis: The Role of Economic Rents’, Asian-Pacific Economic Literature, 2008, 22, 1, 57–70.

34. Peter L. Rousseau and Sheng Xiao, ‘Banks, Stock Markets, and China’s "Great Leap Forward"’, Emerging Markets Review, 2007, 8, 3, 206–17.

Volume III: External Economic Relations

Part 9: External Trade

35. Lucy Reesa and Rod Tyersb, ‘Trade Reform in the Short Run: China’s WTO Accession’, Journal of Asian Economics, 2004, 15, 1–31.

36. Bin Xu, ‘Infant Industry and Political Economy of Trade Protection’, Pacific Economic Review, 2006, 11, 3, 363–78.

37. Matthieu Bussière and Bernd Schnatz, ‘Evaluating China’s Integration in World Trade with a Gravity Model Based Benchmark’, Open Economies Review, 2009, 1, 20, 85–111.

38. Sumner J. La Croix and Denise Eby Konan, ‘Intellectual Property Rights in China: The Changing Political Economy of Chinese-American Interests’, World Economy, 2002, 25, 6, 759–88.

39. Jikun Huan et al., ‘Agricultural Trade Liberalization and Poverty in China’, China Economic Review, 2007, 18, 244–65.

Part 10: Foreign Direct Investment in China

40. Chyau Tuan, Linda F.Y. Ng, and Bo Zhao, ‘China’s Post-Economic Reform Growth: The Role of FDI and Productivity Progress’, Journal of Asian Economics, 2009, 20, 280–93.

41. Stephane Dees, ‘Foreign Direct Investment in China: Determinants and Effects’, Economics of Planning, 1998, 31, 2–3, 175–94.

42. Yih-Chyi Chuang and Pi-Fum Hsu, ‘FDI, Trade, and Spillover Efficiency: Evidence from China’s Manufacturing Sector’, Applied Economics, 2004, 36, 10, 1103–15.

43. Xiaming Liu et al., ‘Country Characteristics and Foreign Direct Investment in China: A Panel Data Analysis’, Review of World Economics, 1997, 133, 2, 313–29.

44. Yasheng Huang, ‘One Country, Two Systems: Foreign-Invested Enterprises and Domestic Firms in China’, China Economic Review, 2003, 14, 4, 404–16.

Part 11: Exchange Rate Policy

45. Zhichao Zhang, ‘Exchange Rate Reform in China: An Experiment in the Real Targets Approach’, World Economy, 2000, 23, 8, 1057–81.

46. Jeffrey A. Frankel and Shang-Jin Wei, ‘Assessing China’s Exchange Rate Regime’, Economic Policy, 2007, 22, 575–627.

47. Alicia Garcia-Herrero and Tuuli Koivu, ‘China’s Exchange Rate Policy and Asian Trade’ (Bank for International Settlements Working Papers No. 282, 2009).

48. Wing Thye Woo, ‘Understanding the Sources of Friction in US–China Trade Relations: The Exchange Rate Debate Diverts Attention Away from Optimum Adjustment’, Asian Economic Papers, 2008, 7, 3, 65–99.

Part 12: China’s Outward Investment

49. Guonan Ma and Haiwen Zhou, ‘China’s Large and Rising Net Foreign Asset Position’, China & World Economy, 2009, 17, 5, 1–21.

50. Hung-Gay Fung, Qingfeng Wilson Liu, and Erin H. C. Kao, ‘China’s Outward Direct and Portfolio Investments’, China & World Economy, 2007, 15, 6, 53–68.

51. Mark Yaolin Wang, ‘The Motivations Behind China’s Government-Initiated Industrial Investments Overseas’, Pacific Affairs, 2002, 75, 2, 187–206.

Volume IV: Political Economy

Part 13: Political Economy of Reform

52. Jeffrey Sachs, Wing Thye Woo, and Xiaokai Yang, ‘Economic Reforms and Constitutional Transition’, Annals of Economics and Finance, 2000, 1, 423–79.

53. Dali Yang, ‘Economic Transformation and its Political Discontents in China: Authoritarianism, Unequal Growth, and the Dilemmas of Political Development’, Annual Review of Political Science, 2006, 9, 143–64.

54. Steven M. Goldstein, ‘China in Transition: The Political Foundations of Incremental Reform’, China Quarterly, 1995, 144, 1105–31.

55. Mary E. Gallagher, ‘Reform and Openness: Why China’s Economic Reforms Have Delayed Democracy’, World Politics, 2002, 54, 3, 338–72.

Part 14: Economic Growth and Society

56. Luigi Tomba, ‘Creating an Urban Middle Class: Social Engineering in Beijing’, China Journal, 2004, 51, 1–26.

57. Jude Howell, ‘The Chinese Economic Miracle and Urban Workers’, European Journal of Development Research, 9, 2, 148–75.

58. Linda Yueh, ‘China’s Entrepreneurs’, World Development, 2009, 37, 4, 778–86.

59. Shuntian Yao, ‘Privilege and Corruption: The Problems of China’s Socialist Market Economy’, American Journal of Economics and Sociology, 2002, 61, 1, 279–99.

Part 15: Income Distribution across Regions and Social Groups

60. Wei Zhang, ‘Rethinking Regional Disparity in China’, Economics of Planning, 2001, 34, 1–2, 113–38.

61. Terry Sicular et al., ‘The Urban–Rural Income Gap and Inequality in China’, Review of Income and Wealth, 2007, 53, 1, 93–126.

62. Xin Meng, Robert Gregory, and Youjuan Wang, ‘Poverty, Inequality, and Growth in Urban China, 1986–2000’, Journal of Comparative Economics, 2005, 33, 4, 710–29.

63. Loraine A. West and Christine P. Wong, ‘Fiscal Decentralization and Growing Regional Disparities in Rural China: Some Evidence in the Provision of Social Services’, Oxford Review of Economic Policy, 1995, 11, 4, 70–84.

Part 16: Social Security

64. Martin S. Feldstein, ‘Social Security Pension Reform in China’ (NBER Working Papers No. 6794, 1998).

65. Hongxin Li and Marcel Mérette, ‘Population Ageing and Pension System Reform in China: A Computable Overlapping-Generations General Equilibrium Model Analysis’, Journal of Chinese Economic and Business Studies, 2005, 3, 263–77.

66. Xiaoyan Lei Lei and Wanchuan Lin, ‘The New Cooperative Medical Scheme in Rural China: Does More Coverage Mean More Service and Better Health?’, Health Economics, 2009, 8, 25–46.

67. H. Maci Mocan, Erdal Tekin, and Jeffrey S. Zax, ‘The Demand for Medical Care in Urban China’, World Development, 2004, 32, 2, 289–304.

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Critical Concepts in Economics

With a rich backlist of popular Economics titles on current areas of research, the Critical Concepts in Economics series spans a wide range of titles, with titles including China and Globalization, The Great Depression and Feminist Economics. Upcoming titles to look out for include Islamic Economics and Human Capital.

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