Non-Walrasian Equilibrium Theory and Its Application in the Chinese Economy

Author: Yuan Zhigang
Publisher:
Publish Date: 2006-03-01
Features: This book argues that both traditional and current Chinese economic reforms are non-equilibrium operations of the economy. However, the Chinese economy does not simply correspond to the above typical non-equilibrium state, because in the Chinese economy, resource unemployment and resource shortages coexist, as do planned and market systems. The book first introduces a series of new concepts that align with Chinese practices into the traditional non-Walrasian equilibrium theory, then applies this theoretical method to establish several Chinese micro and macro non-economic equilibrium models, demonstrating the actual operation process of the Chinese economy. The book won the highest prize in Chinese economics—the Sun Yat-sen Economic Science Works Award in 1997—and is available for reference for a broad readership of economic researchers.