Pareto-Improving Economic Reforms Through Dual-Track Liberalization

11 Pages Posted: 1 May 1998

See all articles by Lawrence J. Lau

Lawrence J. Lau

Chinese University of Hong Kong-Institute of Global Economics and Finance

Yingyi Qian

Tsinghua University - School of Economics & Management; Centre for Economic Policy Research (CEPR)

Gérard Roland

University of California, Berkeley - Department of Economics; Centre for Economic Policy Research (CEPR)

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Abstract

Pareto-improving economic reforms that also simultaneously achieve efficiency can be implemented through a strategy of "dual-track" liberalization. Its success requires the feasibility of the original plan and its continued enforcement by the state. The Chinese experience demonstrates that such a strategy works.

JEL Classification: P21

Suggested Citation

Lau, Lawrence J. and Qian, Yingyi and Roland, Gérard, Pareto-Improving Economic Reforms Through Dual-Track Liberalization. Available at SSRN: https://ssrn.com/abstract=82129 or http://dx.doi.org/10.2139/ssrn.82129

Lawrence J. Lau (Contact Author)

Chinese University of Hong Kong-Institute of Global Economics and Finance ( email )

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Yingyi Qian

Tsinghua University - School of Economics & Management

Beijing, 100084
China

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Gérard Roland

University of California, Berkeley - Department of Economics ( email )

549 Evans Hall #3880
Berkeley, CA 94720-3880
United States
510-642-4321 (Phone)
510-642-6615 (Fax)

Centre for Economic Policy Research (CEPR)

London
United Kingdom