English, Article edition: CAN CHINA'S "MINI-BANG" SUCCEED? Justin Yifu Lin

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Physical Description
  • article
Language
  • English

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Title
  • CAN CHINA'S "MINI-BANG" SUCCEED?
Author
  • Justin Yifu Lin
Physical Description
  • article
Notes
  • Despite the phenomenal success of China's economic reform, the Chinese economy encounters a series of increasingly perilous problems, such as the recurrence of a "boon-and-bust" cycle, inflation, corruption, and regional disparity. This paper argues that the root of these problems is the discrepancy between the reforms in the macropolicy environment and the reforms in the micro-management institution and resource allocation system. In October 1993, the Chinese government introduced a reform package in a bid to make the macro-policy environment more consistent with the liberalized micro-management institution and resource allocation system. However, the traditional macro-policy environment was formed endogenously to facilitate implementing the "catching-up and forging-ahead" development strategy. Unless, the Chinese government abandons that strategy, it cannot complete the reforms in the macro-policy environment and it cannot uproot the problems appearing in the reform process. Copyright 1995 Western Economic Association International.
  • RePEc:bla:coecpo:v:13:y:1995:i:1:p:10-14
Language
  • English
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