Re-Interpreting the ‘Chinese Miracle’: A Multi-Dimensional Framework

Feng, Xingyuan; Ljungwall, Christer; Guo, Sujian

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Re-Interpreting the ‘Chinese Miracle’: A Multi-Dimensional Framework

Center for International Private Enterprise, Forthcoming

9 Pages Posted: 2 Jul 2012

See all articles by Xingyuan Feng

Xingyuan Feng

Rural Development Institute of Chinese Academy of Social Sciences

Sujian Guo

affiliation not provided to SSRN

Date Written: May 15, 2012

Abstract

China’s economic transformation cannot be fully explained by focusing on a single variable; rather, it is a result of multiple institutional factors. Since the introduction of market-oriented reforms in 1978, a combination of formal and informal institutional changes as well as top-down and bottom-up initiatives led to the creation of pro-growth conditions in China. In order for the Chinese Miracle to continue, China must strengthen the economic freedom of individuals and enterprises, which is currently eroding.

Keywords: Gradualism, Institutional change, Institutional evolution, Chinese miracle

JEL Classification: B50, B52, B59, O10, O17, P30

Suggested Citation: Suggested Citation

Feng, Xingyuan and Ljungwall, Christer and Guo, Sujian, Re-Interpreting the ‘Chinese Miracle’: A Multi-Dimensional Framework (May 15, 2012). Center for International Private Enterprise, Forthcoming, Available at SSRN: https://ssrn.com/abstract=2097415