Industrial Reform and Macroeconomic Instability in China PDF Download

Author: Y. Y. Kueh
Publisher: Oxford University Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 348

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Book Description
This text addresses the core but to date least reformed sector of the Chinese economy: the giant state-owned enterprises (SOEs). It explores the dynamics between industrial deregulation and inflation in China's search for stable economic growth.

Author: Yak-yeow Kueh
Publisher: Clarendon Press
ISBN: 0191583820
Category : Business & Economics
Languages : en
Pages : 338

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Book Description
Is the battle against inflation in China now over? Can Zhu Rongji, the economic guru turned Chinese premier who has successfully reduced the skyrocketing inflation of the mid-1990s to a near zero level, while yet maintaining high economic growth through the new millennium, relax? These are the key questions raised by China's current economic transition towards a market-based system, and they both revolve around the institutional economics that is the focus of this volume. Dealing specifically with the giant state-owned enterprises (SOEs), Industrial Reform and Macroeconomic Instability in China unravels the intriguing dynamics between industrial deregulation and inflation, in the context of China's continuous search for sustained, stable economic growth without runaway inflation. This book is unique among western studies: it addresses the very core, but to date least reformed sector of the Chinese economy. SOEs have monopolized key industrial supplies, commanded the bulk of national investment, disctated much of the nation's credit and finance, and have been the single most important source of state budget revenue. Continually faced with enormous internal wage pressures, all attempts at marketization and price liberalization are inherently inflationary. Based upon an independently, specifically designed set of questionnaires administered to 300 large and medium-scale state industrial enterprises in six major industrial cities, this book provides an in-depth analysis of the first decade of the reforms of the 1980s. The findings are formulated as pointers for understanding the macroeconomic vicissitudes that occurred after the launching of the campaign to create a 'socialist market economy' in the early 1990s. This book will be of use to China analysts, students, and businessmen who are interested in learning about the progress made, the remaining obstacles that the state-owned enterprises face, and their inevitable impact on China's economic growth and stability.

Author: Y. Y. Kueh
Publisher:
ISBN: 9781383018424
Category : China
Languages : en
Pages : 0

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Book Description
Industrial Reform and Macroeconomic Instability in China focuses on the state-owned enterprises and tries to unravel the intriguing dynamics between industrial deregulation and inflation.

Author: Xiaohu (Shawn) Wang
Publisher: Routledge
ISBN: 1317457978
Category : Business & Economics
Languages : en
Pages : 297

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Book Description
The authors of this work argue strongly that the decentralization that has taken place in China over the past two decades threatens to undermine the future of reform and perhaps even the state itself. They contend that reform has undermined state capacity in China, and that the state's fiscal revenues, as a percentage of GNP, have declined and will continue to decline into the foreseeable future, thereby weakening China's ability to mobilize resources for modernization.

Author: Jiwei Lou
Publisher: World Bank Publications
ISBN: 9780821340189
Category : Business & Economics
Languages : en
Pages : 172

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Book Description
China is in the throes of two transitions: from a command economy to a market-based one and from a rural, agricultural society to an urban, industrial one. So far, both transitions have been spectacularly successful. China is the fastest-growing economy in the world, with per capita incomes more than quadrupling since 1978, achieving in two generations what took other countries centuries. Although swift growth and structural change have resolved many problems, they also have created new challenges: employment insecurity, growing inequality, stubborn poverty, mounting environmental pressures, rising costs of food self-sufficiency, and periods of macroeconomic instability stemming from incomplete reforms. Unmet, these challenges could undermine the sustainability of growth, and Chinas promise could fade. China 2020, a seven-volume set, examines China's recent history, where it is today, and the path it should follow during the first two decades of the 21st century. The volume in the set entitled, Clear Water, Blue Skies: Chinas Environment in the New Century explores the relationship between economic growth and the environment. Chapters review the harmful effects of all forms of pollution and discuss ways of securing higher environmental living standards. Particular attention is given to urban areas and the impact of pollution on health conditions.

Author: Ligang Song
Publisher: ANU Press
ISBN: 1760460354
Category : Business & Economics
Languages : en
Pages : 545

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Book Description
China’s change to a new model of growth, now called the ‘new normal’, was always going to be hard. Events over the past year show how hard it is. The attempts to moderate the extremes of high investment and low consumption, the correction of overcapacity in the heavy industries that were the mainstays of the old model of growth, the hauling in of the immense debt hangover from the fiscal and monetary expansion that pulled China out of the Great Crash of 2008 would all have been hard at any time. They are harder when changes in economic policy and structure coincide with stagnation in global trade and rising protectionist sentiment in developed countries, extraordinarily rapid demographic change and recognition of the urgency of easing the environmental damage from the old model. China’s economy has slowed and there are worries that the authorities will not be able to contain the slowdown within preferred limits. This year’s Update explores the challenge of the slowdown in growth and the change in economic structure. Leading experts on China’s economy and environment review change within China’s new model of growth, and its interaction with ageing, environmental pressure, new patterns of urbanisation, and debt problems at different levels of government. It illuminates some new developments in China’s economy, including the transformational potential of internet banking, and the dynamics of financial market instability. China’s economic development since 1978 is full of exciting change, and this year’s China Update is again the way to know it as it is happening.

Author: Zheng Yongnian
Publisher: Routledge
ISBN: 1317818806
Category : Social Science
Languages : en
Pages : 285

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Book Description
In the past three decades, China has successfully transformed itself from an extremely poor economy to the world’s second largest economy. The country’s phenomenal economic growth has been sustained primarily by its rapid and continuous industrialisation. Currently industry accounts for nearly two-fifth of China’s gross domestic product, and since 2009 China has been the world’s largest exporter of manufactured products. This book explores the question of how far this industrial growth has been the product of government policies. It discusses how government policies and their priorities have developed and evolved, examines how industrial policies are linked to policies in other areas, such as trade, technology and regional development, and assesses how new policy initiatives are encouraging China’s increasing success in new technology-intensive industries. It also demonstrates how China’s industrial policies are linked to development of industrial clusters and regions.

Author: Gordon White
Publisher: Springer
ISBN: 1349119393
Category : Business & Economics
Languages : en
Pages : 352

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Book Description
An assessment of the impact of the post-Mao market-orientated reforms in China on the Chinese state and its relations with economy and society. It investigates the political and social consequences of an economic strategy which aims to introduce markets into a centrally-planned socialist economy.

Author: Gene Tidrick
Publisher: World Bank
ISBN: 9780195205923
Category : Business & Economics
Languages : en
Pages : 400

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Book Description
Containing important implications for socialist and other developing countries, this book uses newly-acquired data to analyze China's far-reaching industrial reforms, looks at Hungary's reforms, and compares Chinese and Soviet systems.

Author: Hanquan Huang
Publisher: World Scientific
ISBN: 9811224099
Category : Political Science
Languages : en
Pages : 358

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Book Description
The debate on industrial policy has been in full swing among the academic circles in recent years. The crux of this debate is not whether China needs industrial policies, but rather, the kind of industrial policies it wants. Given the profound changes to the domestic and international environments, and institutional background during China's industrial development, industrial policies must be able to make up for 'market failures,' while avoiding 'government failures'. To this end, it is suggested to establish a 'market-friendly' industrial policy system dominated by functional industrial policies, in accordance with the requirements of building an 'interactive and cooperative' government-market relationship to help transform and upgrade China's industries.