China's Great Economic Transformation

Brandt, Loren; Rawski, Thomas G.

doi:10.1017/cbo9780511754234.002

Cited by 150 publications

(109 citation statements)

References 10 publications

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“…Indeed, the overall PMR indicator reported in Figure 2 above points to a regulatory environment that is significantly less conducive to competition than in OECD countries, suggesting that institutional development has, in some ways, lagged behind China's economic transformation. It would seem that the benefits of the substantial reforms that have been put in place as well as the rise of the private sector -in conjunction with "creative improvisation" to bridge institutional gaps -have so far outweighed the costs implicit in the remaining policy-induced distortions (Brandt and Rawski, 2008).…”

Section: Detailed Pmr Indicator Results and Policy Recommendationsmentioning

confidence: 99%

Product Market Regulation and Competition in China

Conway¹,

Herd

Chalaux

et al. 2010

OECD Economics Department Working Papers

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ABSTRACT/RESUMÉ Product market regulation and competition in ChinaThe extent of competition in product markets is an important determinant of economic growth in both developed and developing countries. This paper uses the 2008 vintage of the OECD indicators of product market regulation to assess the extent to which China's regulatory environment is supportive of competition in markets for goods and services. The results indicate that, although competition is increasingly robust across most markets, the overall level of product market regulation is still restrictive in international comparison. These impediments to competition are likely to constrain economic growth as the Chinese economy continues to develop and becomes more sophisticated. The paper goes on to review various aspects of China's regulatory framework and suggests a number of policy initiatives that would improve the extent to which competitive market forces are able to operate. Breaking the traditional links between state-owned enterprises and government agencies is an ongoing challenge. Reducing administrative burdens, increasing private sector involvement in network sectors and lowering barriers to foreign direct investment in services would also increase competition and enhance productivity growth going forward. Some of the reforms introduced by the Chinese government over the past two years go in this direction and should therefore help foster growth. This paper relates to the 2010 OECD Economic Review of China (www.oecd.org/eco/surveys/china). JEL Classification: F4 ; K2 ; L5 ; D2Keywords: Regulation; macroeconomic policy; China; productivity ************************************ Règlementation du marché des produits et concurrence en ChineL'étendue de la concurrence sur le marché des produits est un déterminant important de la croissance économique dans les pays développés et en développement. Ce papier utilise la version 2008 des indicateurs de réglementation du marché des produits de l'OCDE pour évaluer dans quelle mesure l'environnement règlementaire en Chine favorise la concurrence sur les marchés de biens et services. Les résultats indiquent que, bien que la concurrence s'intensifie sur la plupart des marchés, le niveau général de la réglementation demeure restrictif au plan international. Ces entraves à la concurrence sont susceptibles de freiner la croissance à mesure que l'économie chinoise continue de se développer et devient plus sophistiquée. Ce papier examine ensuite différents aspects du cadre règlementaire chinois, et suggère différents types de mesures qui donneraient une plus grande latitude aux forces de marché. Briser les liens traditionnels entre entreprises publiques et agences gouvernementales reste un défi. Réduire les contraintes administratives, accroître la participation du secteur privé dans les secteurs de réseau et abaisser les barrières à l'investissement direct étranger dans les services stimuleraient aussi la concurrence et les progrès de productivité. Certaines des réformes introduites par le gouvernement chinoi...

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Section: Detailed Pmr Indicator Results and Policy Recommendationsmentioning

confidence: 99%

Product Market Regulation and Competition in China

Conway¹,

Herd

Chalaux

et al. 2010

OECD Economics Department Working Papers

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“…"Private businesses were allowed to operate for the first time since the Communist takeover, and they gradually began to make up a greater percentage of industrial output" [2]. Although radical or "conservative" power could still be found in Chinese Community Party at 1978, the government gave a further detail, "Provisional Regulations on the Establishment of Schools by Societal Forces" [10], to encourage non-government educational institutions to be included in the educational system.…”

Section: The Changing Policy Of Chinese Educationmentioning

confidence: 99%

Marketization and Education of Schooling in Urban China

Su¹

2017

Proceedings of the 2016 2nd International Conference on Economics, Management Engineering and Education Technology (ICEMEET 201

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Abstract. Since 1970s, China made a change of successful economic transformation; China's education also experienced great change because of marketization and reform. The policies at different time reflect the strategies of government to make use of the market economy and create more chances for their people from the education resources. This paper aims to analyse and present the effect of marketization in educational field of urban China.

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“…The PRC, in particular, has experienced tremendous structural changes in recent decades, associated with the gradual opening of the economy. Prices have been liberalised, trade has increased extensively, companies have been privatised and the economy has been transformed from one that was centrally planned prior to 1978 to a market economy (Brandt and Rawski 2008). It has also experienced several economic shocks, some of which were related to policy measures to liberalise the economy (Gerlach and Peng 2006).…”

Section: Markov Switching Modelmentioning

confidence: 99%

Examining monetary policy reaction in the People’s Republic of China – a Markov switching policy index approach

Egan

Leddin

2016

Journal of Chinese Economic and Business Studies

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This paper estimates a monetary policy rule for the People's Republic of China (PRC) using a standard OLS estimation and a Markov switching model. As the People's Bank of China (PBOC) generally uses a battery of instruments in the conduct of its monetary policy, these models are estimated using a constructed monetary policy index (MPI) in place of the traditional interest rate.This allows for a better understanding of the role the PBOC has played in the PRC's unprecedented economic growth and its relatively low inflation over the last twenty years. This paper will not only examine the unique characteristics of Chinese monetary policy but may also give a more general insight into the dynamics of monetary policy reactions in other emerging markets and economies in transition.

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China's Great Economic Transformation

Cited by 150 publications

References 10 publications

Product Market Regulation and Competition in China

Product Market Regulation and Competition in China

Marketization and Education of Schooling in Urban China

Examining monetary policy reaction in the People’s Republic of China – a Markov switching policy index approach

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