The Cycle of Institutional Change: A General Theory and Its Application to Chinese Reform

Author: Cheng Hong
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Features: This book further analyzes the operational planning of institutional change and proposes that the process of institutional change is divided into three stages: stagnation, innovation, and equilibrium. The alternation of these three stages forms the cycle of institutional change. Using this theory, it analyzes China's economic reform practices in the past two decades and puts forward some valuable policy recommendations for China's future reforms.