Institutional Interpretation of Low-Cost Economic Development

Author: Ren Baoping
Publisher:
Publish Date: 2003-12-01
Features: The economic development of China in the 21st century should aim to improve the quality of economic development and reduce the cost of economic development. It is necessary to choose an endogenous cost economic development model and establish a national economic system with high-quality and low-cost operation. This can be achieved by strengthening institutional supply to realize China's low-cost economic development. This book is the final outcome of the Youth Project Research of the "Fifteenth Five-Year Plan" of the Ministry of Education. Based on a review and reflection of development theory and consideration of the realities of economic development, the author proposes the proposition that "the minimization of economic development cost is the theoretical foundation of sustainable development" and takes this as the starting point of the entire book. Using the concept of economic development cost, the author reinterprets the theory of sustainable development and employs institutional analysis methods to study the theoretical basis for achieving low-cost economic development, including model construction and policy design.