China in Light of the Performance of Central and East European Economies

Show simple item record

dc.contributor.author Svejnar, Jan
dc.date 2007-01
dc.date.accessioned 2007-06-13T18:33:15Z
dc.date.available 2007-06-13T18:33:15Z
dc.date.issued 2007-06-13T18:33:15Z
dc.identifier.uri http://hdl.handle.net/2027.42/51566
dc.description.abstract While China shared many systemic, initial conditions with the transition economies of Central-East Europe (CEE) and the Commonwealth of Independent States (CIS), it had a more agricultural economy and a more stable political-economic system than many CEE and CIS countries. Unlike most of the CEE and CIS economies, China adopted a strategy of gradual economic transformation that maintained the existing system and created new economic activities on top of it. This enabled China to avoid the transformation depression observed in CEE and CIS, and allowed it to generate high rates of economic growth that have now lasted for almost three decades. At the time of this study, the CEE and CIS economies have also completed a decade or more of respectable economic growth, demonstrating that numerous forms of the transition process can generate long term economic growth. In retrospect, the tradeoff for avoiding an initial depression appears to be the willingness to maintain most of the existing economic and political system rather than embarking on a rapid but incomplete economic and political transformation. With a rising economic instability and political pressure, countries such as Poland and the Soviet Union (CIS) had little choice but to proceed relatively fast. Others, such as East Germany and Czechoslovakia, could have retained the centrally planned system, but they abandoned it and communism rapidly for political reasons. Looking forward, the current situation is an optimistic one, with China, CIS and CEE belonging to the fastest growing regions of the world. It will be interesting to see whether all or only some of these models will turn out to be successful in the long run. en_US
dc.format.extent 109478 bytes
dc.format.mimetype application/pdf
dc.language.iso en_US en_US
dc.relation.ispartofseries 26 en_US
dc.subject Transition Economies en_US
dc.subject Econmoic Growth en_US
dc.subject Transformation Depression en_US
dc.subject China en_US
dc.title China in Light of the Performance of Central and East European Economies en_US
dc.type Working Paper en_US
dc.subject.hlbtoplevel Social Sciences
dc.contributor.affiliationum International Policy Center (IPC); Gerald R. Ford School of Public Policy en_US
dc.contributor.affiliationumcampus Ann Arbor
dc.description.bitstreamurl http://deepblue.lib.umich.edu/bitstream/2027.42/51566/1/TransitionR 03-14-07.pdf en_US
dc.owningcollname International Policy Center (IPC) - Working Paper Series
 Show simple item record

This item appears in the following Collection(s)


Search Deep Blue

Advanced Search

Browse by

My Account

Information

Available Now


MLibrary logo