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- DescriptionChina's ecomic boom over the last two decades has taken many analysts by surprise, given the ongoing role of central government planning. Its current growth trajectory suggests that the size of its ecomy could soon surpass that of the United States and some argue that continued growth and the expanding middle class will ultimately exert pressure on the government to bring about greater openness of the financial market. To better understand China's recent ecomic performance, this volume examines the distinctive system it has developed: market socialism with Chinese characteristics . While its formal institutional makeup resembles that of a free-market ecomy, many of its practices remain socialist, including strategically placed state-owned enterprises that wield influence both directly and through controlled business groups, and Communist Party cells whose purpose is to maintain control of many segments of the ecomy. China's ecomic system, the contributors find, also retains many historical characteristics that play a central role in managing the ecomy. These and other issues are examined in chapters on China's financial regulations, corporate governance codes, bankruptcy laws, taxation, and disclosure rules.
- Author BiographyJoseph P. H. Fan is professor in the Department of Finance, codirector of the Institute of Economics and Finance, and deputy director of the Center for Institutions and Governance at the Chinese University of Hong Kong. Randall Morck is the Stephen A. Jarislowsky Distinguished Chair in Finance and University Professor at the University of Alberta Business School and a research associate of the NBER.
- PublisherThe University of Chicago Press
- Date of Publication27/11/2012
- SubjectEconomics: Professional & General
- Series TitleNational Bureau of Economic Research Conference Report
- Place of PublicationChicago, IL
- Country of PublicationUnited States
- ImprintUniversity of Chicago Press
- Content Note51 line drawings, 42 tables
- Weight612 g
- Width152 mm
- Height229 mm
- Spine33 mm
- Edited byJoseph P. H. Fan,Randall Morck
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