China's Great Economic Transformation
Edited by Loren Brandt
University of Toronto
Thomas G. Rawski
University of Pittsburgh


This landmark study provides an integrated analysis of China's unexpected economic boom of the past three decades. The authors combine deep China expertise with broad disciplinary knowledge to explain China's remarkable combination of high-speed growth and deeply flawed institutions. Their work exposes the mechanisms underpinning the origin and expansion of China’s great boom. Penetrating studies track the rise of Chinese capabilities in manufacturing and in research and development. The editors probe both achievements and weaknesses across many sectors, including China's fiscal, legal, and financial institutions. The book shows how an intricate minuet combining China's political system with sectorial development, globalization, resource transfers across geographic and economic space, and partial system reform delivered an astonishing and unprecedented growth spurt.
• A detailed account of China's huge economic boom • Combines the expertise of China specialists and economic generalists • Draws on deep knowledge of China, whilst focusing on broad issues of development


Contents
List of Figures page vii
List of Tables xi
Contributors xvii
Acknowledgments xxi
1. China’s Great Economic Transformation 1
Loren Brandt and Thomas G. Rawski
2. China and Development Economics 27
Alan Heston and Terry Sicular
3. China in Light of the Performance of the Transition
Economies 68
Jan Svejnar
4. A Political Economy of China’s Economic Transition 91
Barry Naughton
5. The Demographic Factor in China’s Transition 136
WANG Feng and Andrew Mason
6. The Chinese Labor Market in the Reform Era 167
Fang Cai, Albert Park, and Yaohui Zhao
7. Education in the Reform Era 215
Emily Hannum, Jere Behrman, Meiyan Wang, and Jihong Liu
8. Environmental Resources and Economic Growth 250
James Roumasset, Kimberly Burnett, and Hua Wang
9. Science and Technology in China 286
Albert G. Z. Hu and Gary H. Jefferson
10. The Political Economy of Private Sector Development in China 337
Stephan Haggard and Yasheng Huang
11. The Role of Law in China’s Economic Development 375
Donald Clarke, Peter Murrell, and Susan Whiting
12. China’s Fiscal System: AWork in Progress 429
Christine P. W. Wong and Richard M. Bird
13. Agriculture in China’s Development: Past Disappointments, Recent
Successes, and Future Challenges 467
Jikun Huang, Keijiro Otsuka, and Scott Rozelle
14. China’s Financial System: Past, Present, and Future 506
Franklin Allen, Jun Qian, and Meijun Qian
15. China’s Industrial Development 569
Loren Brandt, Thomas G. Rawski, and John Sutton
16. China’s Embrace of Globalization 633
Lee Branstetter and Nicholas R. Lardy
17. Growth and Structural Transformation in China 683
Loren Brandt, Chang-tai Hsieh, and Xiaodong Zhu
18. Income Inequality during China’s Economic Transition 729
Dwayne Benjamin, Loren Brandt, John Giles, and Sangui Wang
19. Spatial Dimensions of Chinese Economic Development 776
Kam Wing Chan, J. Vernon Henderson, and Kai Yuen Tsui
20. Forecasting China’s Economic Growth to 2025 829
Dwight H. Perkins and Thomas G. Rawski
Index 887