Challenges of China's Economic System for Economic Theory

The challenges of the market economy in China for economic theory touch on 4 topics: 1. private versus public ownership of assets, 2. Western legal systems versus Eastern semiformal legal systems, 3. individualism versus the collective good, and 4. multiparty versus one-party political systems. A nu...

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Bibliographic Details
Published inThe American economic review Vol. 87; no. 2; pp. 321 - 327
Main Author Chow, Gregory C.
Format Journal Article
LanguageEnglish
Published Menasha, Wis American Economic Association 01.05.1997
Subjects
Agricultural management
China
Contract enforcement
Contracts
Corporations
Economic reform
Economic systems
Economic theory
Enforcement
Incentives
Interaction of Economic Institutions and Theory
Leasing
Legal systems
Market economies
Political parties
Political systems
Private enterprise
Profits
Public assistance programs
Public enterprise
Studies
Towns
China
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Summary:The challenges of the market economy in China for economic theory touch on 4 topics: 1. private versus public ownership of assets, 2. Western legal systems versus Eastern semiformal legal systems, 3. individualism versus the collective good, and 4. multiparty versus one-party political systems. A number of questions worthy of further economic research are stated. These questions have been stimulated by the reality of recent economic development in China.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
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ISSN:0002-8282
1944-7981