China′s recent economic growth has been phenomenal. In this book, Gregory Chow′s insights into China′s institutions and culture make it possible to understand the country′s past and present in order to forecast an economic future which has crucial implications for the entire world. China′s Economic Transformation : provides a penetrating and comprehensive analysis of the historical, institutional and theoretical factors which have contributed to China′s economic success; reveals new findings concerning the roles of market institutions, Chinese human capital, private ownership, form of government, political conditions and bureaucratic economic institutions; uses insights gained from over twenty years of teaching, travelling, working with government officials and academics, and interacting with ordinary citizens in Chinese society; forecasts China′s economic future with imperative worldwide implications.
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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.
In the two decades since the start of economic reforms in China, economic growth in the world′s most populous country has been a phenomenal 9.6% per year on average. In China′s Economic Transformation, Gregory Chow uses insights gained from over twenty years of teaching, travelling, working with government officials and academics, and interacting with ordinary citizens in Chinese society to address the reason for and nature of China′s economic success. Combining historical–institutional and theoretical–quantitative approaches, Chow provides a penetrating and comprehensive analysis of the factors which have contributed to the transformation process. Chow′s knowledge of what has happened and what is happening in China leads him to forecast an economic future with imperative worldwide implications.
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