Chinas Economic Transformation 2e

Will China's recent economic growth continue at the same rate? For how long? What obstacles lie in the way of sustained growth? Who gains and why? Gregory Chow covers these and many other issues.

• Provides a penetrating and comprehensive analysis of the historical, institutional and theoretical factors that have contributed to China's economic success
• Reveals new findings concerning the roles of market institutions, Chinese human capital, private ownership, forms of government, political conditions, and bureaucratic economic institutions
• The new edition covers a diverse set of important issues: environmental restraints; income distribution; rural poverty; the education system; healthcare; exchange rate policies; monetary policies; and financial regulation.

The transformation of China's economy into a market economy is described here through both traditional economic theory and analysis of the impact on the economy of specific features of China's history and its institutions. Much of the book is rigidly technical and mathematical; however, the text's narrative is designed so a general reader can skip the technical parts. The theoretical-quantitative analysis is applied to economic growth, macroeconomic policies, population, human capital, foreign investment, and other factors. Chow is emeritus in political economics from Princeton U. Annotation c. Book News, Inc.,Portland, OR

Foreign Affairs

A Chinese-born professor emeritus of economics at Princeton and noted econometrician, Chow provides a comprehensive overview of China's remarkable evolution from Soviet-style central planning to a market economy "with Chinese characteristics." He covers inter alia the systems of education, law and dispute settlement, banking and finance, population control, foreign trade and investment, and development plans for western China. The treatment is didactic, with excursions into basic economic concepts, so that the book can be used as the basis for a course on China's economic development. It is spiced with examples of Chow's quantitative approach to analyzing China but written with a general reader in mind. The book is full of factual material and sympathetic interpretation of recent developments in China — which, Chow believes, can and should learn from the West without needing to adopt Western institutions wholesale.

Gregory C. Chow is the Class of 1913 Professor of Political Economy and Professor of Economics, Emeritus, at Princeton University. His previous books include Analysis and Control of Dynamic Economic Systems (1975), Econometrics (1983), The Chinese Economy (1985), Understanding China's Economy (1994), Asia in the Twenty-first Century (1997), and Dynamic Economics (1997). He has advised top government officials in Taiwan and mainland China and in May 2001 the Econometric Research Program at Princeton was named the Gregory C. Chow Econometric Research Program in his honor.