This landmark study provides an integrated analysis of China's unexpected economic boom of the past three decades.
Cover Half-title Title Copyright Contents Figures Tables Contributors Acknowledgments ONE China's Great Economic Transformation BACKGROUND: CHINA'S ECONOMY PRIOR TO THE START OF ECONOMIC REFORM KEY FACTORS IN CHINA'S REFORM SUCCESS KEY ELEMENTS IN THE POLITICAL ECONOMY OF CHINESE REFORM Broad Guidelines -What They Can and Cannot Do Decentralized Experimentation Political Competition Pro-Growth Coalition CONCLUSION References TWO China and Development Economics CHINA'S COMPARATIVE ECONOMIC PERFORMANCE: A QUANTITATIVE LOOK Demography Measurement of GDP: Prices and Other Considerations Growth Rates and Productivity Levels Savings Rate Education, Energy, and Resources Income Distribution Regional Income Differences Household Distribution of Income COMPARATIVE ECONOMIC PERFORMANCE: GOVERNANCE ISSUES Prescriptive and Proscriptive Roles of Government Corruption and Governance Correlates of Corruption Features of Corrupt Administrations Poorly Defined Property Rights and Corruption Concluding Governance AGRICULTURE AND LAND TENURE Land Tenure and Development Land Tenure in China RURAL INDUSTRIALIZATION The Role of Rural Industry in China's Development Explaining the Rise of China's Rural Industries Lessons from the Chinese Experience CONCLUSIONS References THREE China in Light of the Performance of the Transition Economies INTRODUCTION STRATEGIES FOR TRANSITION Privatization Banking System Labor and Social Institutions Legal System and Institutions PERFORMANCE OF CHINA AND THE CEE AND CIS ECONOMIES Gross Domestic Product Inflation Exchange Rates, Current Account, and Exports External Debt and Financial Crises Budget and Taxes Privatization and Creation of New Firms. Domestic and Foreign Investment Employment Adjustment, Wage Setting, Unemployment, and Income Distribution Assessment by the Financial Markets CONCLUSION References FOUR A Political Economy of China's Economic Transition ECONOMIC TRANSITION IN AN AUTHORITARIAN REGIME The Starting Point: The Command Economy Equilibrium The Political Challenge of Transition The Initial Steps THE FIRST PERIOD OF TRANSITION, 1978 THROUGH 1993 The Structure of Power at the Top The Overall Policy Regime The Pattern of Reform Initiatives Reform Outcomes Adapting the System: Rebuilding Hierarchy and the Patronage System The Structure of Power at the Center The Overall Policy Regime The Pattern of ReformInitiatives: Radical Restructuring and Marketization Reform Outcomes Adapting the System: Rebuilding Hierarchy and Patronage Resources CONCLUSION: THE POLITICAL ECONOMY OF TWENTY-FIRST CENTURY CHINA References FIVE The Demographic Factor in China's Transition TWO AND A HALF DECADES OF DEMOGRAPHIC CHANGE Institutional Background of Demographic Change Major Indicators of Demographic Change Population Growth and Fertility Mortality and Health Migration and Urbanization Household Type and Living Arrangement IS CHINA'S FERTILITY DECLINE YIELDING DIVIDENDS? The First Dividend Population Aging and the Second Dividend SOCIAL CONSEQUENCES OF DEMOGRAPHIC CHANGE Rising Sex Ratio and Female Child Survival Social Stratification in Marriage Regional Disparities CONCLUSION APPENDIX: CALCULATING THE DEMOGRAPHIC DIVIDEND THE FIRST DIVIDEND THE SECOND DIVIDEND References SIX The Chinese Labor Market in the Reform Era INTRODUCTION ECONOMIC REFORM AND THE EVOLUTION OF CHINA'S LABOR MARKET Antecedents: The Socialist Labor System under Planning. Rural Reforms, 1978-1984 Industrial Reform and the Rise of TVEs, 1985-1992 Rapid Growth and Marketization, 1993-1996 Economic Restructuring and Globalization, 1997 to Present EMPLOYMENT Trends in Unemployment and Labor Force Participation Causes of Unemployment and Slow Job Creation Employment Adjustments by Enterprises TheWelfare of Dislocated Workers WAGES Trends in Wages during the Reform Period The Returns to Human Capital Gender-Wage Gap Interfirm Wage Differences EMPIRICAL EVIDENCE ON LABOR MOBILITY Rural Labor Mobility Interregional Labor Mobility Informalization and JobMobility Across Ownership Sectors CONCLUSION References SEVEN Education in the Reform Era INTRODUCTION BACKDROP: EDUCATION DURING THE CULTURAL REVOLUTION EDUCATIONAL PROVISION UNDER MARKET REFORMS: POLICIES, FINANCE, AND QUALITY Educational Policies Finance Quality EDUCATIONAL PARTICIPATION AND ATTAINMENT Past Expansions and the Educational Attainment of the Adult Population Reform Era Changes in the Level and Composition of Enrollment Enrollment and Attainment Disparities in the Reform Era Gender Socioeconomic Status Geography Ethnicity DISCUSSION AND CONCLUSIONS References EIGHT Environmental Resources and Economic Growth INTRODUCTION POLLUTION Air Pollution The Environmental Kuznets Curve Water Pollution NATURAL CAPITAL Forests Water Soil Energy Other Resources Fisheries Minerals NATURAL RESOURCES KUZNETS CURVE Natural Resources Kuznets Curve Theory NRKC Empirics GREEN NET NATIONAL PRODUCT GNNP: Theory GNNP: Empirics GENUINE CAPITAL ACCUMULATION Genuine Capital Accumulation: Theory Genuine Capital Accumulation: Empirics POLICY ENVIRONMENT CONCLUSION References. NINE Science and Technology in China INTRODUCTION CHINA'S S& T SYSTEM IN HISTORICAL PERSPECTIVE The Pre-1949 Period The Socialist Era The Reform Period CHINA'S S& T LEVEL IN INTERNATIONAL CONTEXT Measures of Innovation Effort R& D Intensity Scientists and Engineers Basic Research Measures of S& T Achievement Patenting International Scientific Publications Export Quality Regional Distribution of S& T Effort THE SHIFTING LOCUS OF R& D ACTIVITY The Enterprise Sector The Research Institutes Universities CONTRIBUTIONS OF THE FOREIGN SECTOR: DIRECT AND INDIRECT Role of Foreign-Funded R& D Role of FDI Role of Imported Technology Markets GOVERNMENT POLICIES AND PROGRAMS IN SUPPORT OF S& T Organization Government Programs Incentives for the Enterprise Sector The Patent System Technology Standards CASE STUDIES Semiconductors State of the Technology Strategic Issues for Catch-Up Role of Policy Automobile Industry State of Technological Development Strategic Issues for Catch-Up The Role of Policy WHAT HAS BEEN THE IMPACT OF R& D ON CHINA'S ECONOMY? The Returns to R& D Hu and Jefferson (2004a) Cheung and Lin (2004) Jefferson, Bai, Guan, and Yu (2004) Jefferson and Zhong (2004) Fisher-Vanden and Jefferson (2006) The Factor Bias of R& D HOW SUSTAINABLE IS THE GROWTH OF CHINA'S S& T ACTIVITY? Why So Early? High Rates of Literacy Market Size Proximity to Dynamic Economies CONCLUSIONS AND DISCUSSION References TEN The Political Economy of Private-Sector Development in China THE POLICY ENVIRONMENT FOR THE PRIVATE SECTOR IN CHINA Private-Sector Survey Data on Financial Constraints Fixed-Asset Investment Indicators DISCUSSION. State and Private Sector in China: Reconciling with Existing Research Comparison with the East Asian NIEs CONCLUSION References ELEVEN The Role of Law in China's Economic Development INTRODUCTION THE DEVELOPMENT OF LAW DURING THE ERA OF ECONOMIC REFORM The Place of Law in the Early Years of Reform The Economy and the Law Coevolve The Development of Economic Law: A Timeline 1978-1984 1985-1989 1989-1992 1992-present The Formal Legal System Today and Its Problems The Future ARE PROPERTY RIGHTS SECURE? DO THEY MATTER? TRANSACTIONS IN GOODS AND SERVICES Early Reforms: Incremental Liberalization Supporting Exchange Relationships Evolution of Contract Law Making Agreements Dispute Resolution Negotiation andMediation Arbitration Litigation Judgments and Their Enforcement Summary CORPORATE GOVERNANCE The Early Years of Reform: State Ownership and Managerial Incentives The Early Years of Reform: Anonymous Banking and the Flow of Finance The Role of Corporate Governance in Facilitating the Flow of Finance Summary and Reflections References TWELVE China's Fiscal System: AWork in Progress THE DEVELOPMENT OF THE FISCAL SYSTEM The Starting Point The Decline of the Budget, 1978-1993 The 1994 Reform TaxModernization The Tax-Sharing System Tax Administration Overview of the Reform A System in Transition MOBILIZING PUBLIC-SECTOR RESOURCES The Tax System Outside the Budget What Are EBF? The Effects of EBF SPENDING AND SERVICES Budget Reform Public Service Delivery THE KEY TO THE FISCAL FUTURE: INTERGOVERNMENTAL FINANCE Growing Fiscal Disparities The Tenuous Link between Transfers and Services CHINA IN INTERNATIONAL PERSPECTIVE PUBLIC FINANCE MATTERS References. THIRTEEN Agriculture in China's Development Past Disappointments, Recent Successes, and Future Challenges.
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