• ISBN13: 9780199698691
• Binding: Hardcover
• Subject: Economics
• Publisher: Oxford UP
• Publisher Imprint: Oxford UP
• Publication Date: March 15, 2012
• Pages: 424
• Original Price: GBP 38.99
• Language: English
• Edition: N/A
• Item Weight: 658 grams

About the Book How has the Chinese economy managed to grow at such a remarkable rate--no less than ten per cent per annum--for over three decades? This well-integrated book combines economic theory, empirical estimation, and institutional analysis to address one of the most important questions facing contemporary economists. A common thread that runs throughout the book is the underlying political economy: why China became a "developmental state," and how it has maintained itself as a "developmental state". <p/>The book examines the causal processes at work in the evolution of China's institutions and policies. It estimates cross-country and cross-province growth equations to shed light on the proximate, and some of the underlying determinants of the growth rate. It explores important consequences of China's growth, posing a series of key questions, such as: is the economy running out of unskilled labor; why and how has inequality risen; has economic growth raised happiness; what are the social costs of the overriding priority accorded to growth objectives; can China continue to grow rapidly, or will the maturing economy, or the macroeconomic imbalances, or financial crisis, or social instability, bring it to an end? <p/>Based mainly on original research, this book will be of interest to growth economists, development economists, transition economists, China specialists, policy-makers, and indeed all those who are intrigued by the Chinese growth phenomenon.<br>