Miracle of China: Development Strategy and Economic Reform (Revised Edition)

Author: Lin Yifu, Cai Fang, Li Zhou
Publisher:
Publish Date: 2004-08-01
Features: The rapid economic growth of China over more than two decades of reform is a miracle in human history. Many studies both domestically and internationally predict that China will once again become the world's largest economic power in the 21st century. This book analyzes the relationship between China's development strategy, economic system, economic reforms, and economic development using the framework of induced institutional change theory. Renowned American economists have found the description of how gradual reforms have been implemented in China in this book convincing. The book was first published in 1994. In the short years that followed, the authors witnessed a series of important developments in China's economic reform and growth, participated in debates within the Chinese economics community, and provided deeper elaboration on some theoretical and policy issues in the book, making its theory more perfect and targeted. This book discusses China's resource structure, development strategy, economic system, and economic reforms using economic analytical methods. To make the logical analysis of the book clearer and the themes more prominent, a series of issues related to general development and reform, such as environmental sustainability, globalization, rule of law, political system reform, and so on, have not been addressed.