The Market Mechanism and Economic Reforms in China

by William Byrd

Overview

This theoretical and empirical study of market-oriented reforms in Chinese industry since the late 1970s focuses on the expansion of the market mechanism in the allocation of industrial products and the concurrent decline of directive planning - a strategy that is a crucial component of the ambitious overall reform "package" that Chinese reformers are trying to implement. The expanding role of Chinese industrial goods has had major implications for the functioning and importance of planning which, the author argues, has become largely irrelevant in terms of direct control over short-term allocation.

Product Details

ISBN-13:	9781315489797
Publisher:	Taylor & Francis
Publication date:	07/04/2019
Sold by:	Barnes & Noble
Format:	eBook
Pages:	264
File size:	2 MB

About the Author

William A. Byrd is an economist for the World Bank in New Delhi. In 1987, he received his Ph.D. in Economics from Harvard University. Dr. Byrd’s many publications on the Chinese economy include China’s Financial System: The Changing Role of Banks, and, as editor, Chinese Firms in the New Environment (forthcoming).

Table of Contents

Tables, Preface, 1. Introduction, 2. Prerequisites for Effectively Functioning Markets, 3. Markets in Chinese Industry, 4. The Impact of Markets on Chinese Industrial Enterprises, 5. The Redistributional Role of Chinese Economic Planning, 6. Plan and Market in the Chinese Economy: A Simple General Equilibrium Model, 7. Assumptions, Limitations, and Extensions of the Model, 8. Market Price Trends and Market Integration, 9. The Atrophy of Central Planning in Chinese Industry, 10. Conclusions, Notes, References, Index