Évf. 3 szám 1 (2004)
Tanulmányok

Reflections on the Role of Institutions on the Chinese Road to a Market Economy

Megjelent augusztus 27, 2020
László Csaba
Debreceni Egyetem Közgazdaság- és Gazdaságtudományi kar
PDF (English)

APA

Csaba, L. (2020). Reflections on the Role of Institutions on the Chinese Road to a Market Economy. Competitio, 3(1), 49–82. https://doi.org/10.21845/comp/2004/1/4

At the onset of transformation there has been a close to consensus view that the market system has no alternative. While this insight has found its place in the current mainstream on development economics, the so-called Washington consensus or post-Washington consensus (Kolodko, 2000, pp.119-141 andpp. 348-356; and Williamson, J, 2000, Srinivasan, T.N.,2000), very few would venture to repeat in an academic writing the once famous dictum of Vaclav Klaus: the third road leads to the third world. Much of western Europe has remained within the framework of the welfare state, despite its obvious limitations. Also in
the transforming economies, the rollback of the state has proven to be much less than the tough normative language adopted by early reformers would have indicated. Actually, it is the structure rather than the size of public spending in these countries that may be a source of social and economic strains by providing less than optimal conditions for sustaining economic growth.

  1. AHRENS, J.(2001). Governance and Economic Development: a Comparative Institutional Approach. Cheltenham, UK and Northampton, Md. USA: Edwar Elgar Publishing Company.
  2. ANTAL, L.(1983). The conflict of financial planning and regulation: on the nature of restrictions. Acta Oeconomica, vol.21.nos. 3-4,pp.x-y.
  3. BALASSA,B.(1993). Outward orientation. In: BALASSA, B.: Policy Choices for the l990s. Basingstoke and London: MacMillan, pp. 3-55.
  4. BALCEROWICZ,L. (1995). The ` socialist calculation debate` and reform discussions in socialist countries. In: BALCEROWICZ,L.: Socialism, Capitalism, Transformation.London-New York-Budapest: Central European University Press, pp.35-50.
  5. BARA,Z. and SZABO,K,eds. (2000). Gazdasagi intezmenyek, orszagok, rendszerek. (Economic institutions, countries and systems). Budapest: Aula Publishing
  6. Co.
  7. BARRO,R.(1997). Determinants of Economic Growth: a Cross -Country Empirical Study. Cambridge/Mass. And London: The MIT Press.
  8. BAUER, T. (1983). The Hungarian alternative to Soviet-type planning. The Journal of Comparative Economics, vol.11.no.3.pp a-b.
  9. BAUER, T.(1981). Tervgazdasag, beruhazas, ciklusok. (Planned economy, investments, cycles). Budapest: Kozgazdasagi es Jogi Konyvkiado.
  10. BEREND, T.I. (1990). A History of Hungarian Economic Reforms, 1953-1988. Cambridge and New York: Cambridge University Press.
  11. BORNSTEIN, M.ed. (1994). Comparative Economic Systems: Models and Cases. 7d edition. Burr Ridge – Sidney etc: IRWIN.
  12. BRUS, W.(1972). The Market in a Socialist Economy. London: Routledge and Keegan Paul.
  13. BRUS, W. and LASKI, K.(1989). From Marx to Market. Oxford etc: Clarendon Press.
  14. BUITER, W. – LAGO, R. and STERN,N.(1997). Promoting an efficient market economy in a changing world. London: CEPR Discussion Paper no1468/October.
  15. BURKETT.J.(1994). Self-managed market socialism and the Yugoslav economy, 1950-1991.in: BORNSTEIN, M. ed.: Comparative Economic Systems: Models and
  16. Cases .Burr Ridge etc: Irwin,p322-352.
  17. CARR, E. and DAVIES, R. (1974). Foundations of a Planned Economy, vol. I., (1926-29). Harmondsworth/UK: Penguin Books.
  18. CARR, E. (1976). Foundations of a Planned Economy, vol. II. Harmondsworth, UK: Penguin Books.
  19. CHEN, K. – JEFFERSON,G. – SINGH,I. (1992). Lessons from China`'s economic reforms. The Journal of Comparative Economics, vol.16.no.2.p201-225.
  20. CHEN, Ch.-H. (2002). Property rights and rural development in China's `transitional economy. Economics of Planning, vol.35.no.4.pp349-363.
  21. CHOW, G. and LIN,A.(2002). Accounting for economic growth in Taiwan and mainland China: a comparative analysis. The Journal of Comparative Economics,
  22. vol. 30. no. 3. pp. 507-530.
  23. CULL,R. and YU,L.C.(2000). Bureaucrats, state banks and the efficiency of credit allocation: the experience of Chinese state-owned enterprises. The Journal of
  24. Comparative Economics, vol.28.no.1.pp1-31.
  25. CSABA, L.(1992). Macroeconomic policy in Hungary: poetry versus reality. Soviet Studies, vol.44.no.6.pp. 947-964.
  26. CSABA, L.(1995). The Capitalist Revolution in Eastern Europe. Cheltenham/UK and Northampton/USA: Edward Elgar Publishing Co.
  27. CSABA, L.(2002). Economics: Hungary. in: KAASE,M. – SPARSCHUCH,V – WENINGER, A.eds: Handbook of Three Social Sciences in Central and Eastern Europe. Economics, Political Science, Sociology. Berlin-Budapest-Brussels: a book jointly published by GESIS Center for Information, Collegium Budapest and the Fifth
  28. Framework program of the EU Commission, pp 83-101.
  29. CSABA,L.(2004). The New Political Economy of Emerging Europe. Budapest: Akademiai Kiado (an affiliation of Wolters Kluwer, Dordrecht, The Netherlands).
  30. EASTERLY, W. and LEVINE, H..(2001). It is not factor accumulation: stylized facts and growth models. The World Bank Economic Review, vol.15.no.2.pp177-220.
  31. ERDOS, T. (1989). Growth Rate and Growth Path. Budapest: Akademiai Kiado.
  32. FELD, L .P. and VOIGT, S. (2003). Economic growth and judicial independence: cross-country evidence using a new set of indicators. European Journal of Political
  33. Economy, vol.19.no.3.pp 497-527.
  34. FANG, Fan (2003). The dual transformation of China: past 20 years and 50 years ahead. In: KOLODKO, G. W. ed: Emerging Market Economies: Globalization and
  35. Development. Aldershot/UK and Burlington, VT/USA, pp 169-186.
  36. GERNET, J. (2001). A kinai civilizacio tortenete./History of Chinese civilization/. Budapest: Osiris Kiado.
  37. GIDDENS, A. (1998). The Third Way. London: Pluto Press.
  38. GLIGOROV, V. (1998). Yugoslav economics facing reform and dissolution.. In: WAGENER, H.-J, ed.: Economic Thought in Communist and Post-Communist Europe. London: Routledge, pp.329-361..
  39. GRESKOVITS, B (2000). The search for `true` socialist GDP – paper presented to the research seminar, IRES Department, CEU, October/mimeo/.
  40. HANSON, Ph.(2003). The Rise and Fall of the Soviet Economy, 1945-1991. London: Pearson Education.
  41. HAYEK, F.A.(1940). Socialist calculation: the ` competitive` solution. Economica, new series, vol.7., no26. pp.125-149. In: HAYEK, F.A.: Individualism and Economic Order.. Chicago: Chicago, Regnery, 1948, pp.181-208.
  42. HERMANN-PILLATH, C.(1993). Informal constraints, culture and incremental transition from plan to market. In: WAGENER ,H.-J. ed,: On the Theory and Policy of
  43. Systemic Change. Heidelberg and New York: Physica Verlag, pp.95-120.
  44. HERMANN-PILLATH,C.(1993). China`s transition to the market: a paradox of transformation and its institutionalist solution. In: WAGENER, H.-J. ed: The Political
  45. Economy of Transformation .Heidelberg and New York: Physica Verlag, pp. 209-241.
  46. HEITGER, B.(1991). Wirtschaftliches Wachstum in Ost und West, 1950-1985. Die Weltirtschaft, no.1.pp.173-192.
  47. KEREN, M. and OFER,G.(2003). Globalization and the role of foreign banks in economies in transition .in: KOLODKO, G.W. ed: Emerging Market Economies: Globalization and Development. Aldershot, UK and Burlington, VT, USA: Ashgate Publishing Ltd, pp.237-266.
  48. KOLODKO, G.W.(2000). From Shock to Therapy: The Political Economy of Post-Communist Transition. Oxford etc: Oxford University Press for WIDER.
  49. KORNAI, J. (1980). The Economics of Shortage. Amsterdam: North Holland.
  50. KORNAI, J. (1992). The Socialist System: The Political Economy of Communism. London etc; Clarendon Press.
  51. KORNAI, J.(1995). Market socialism revisited. In: KORNAI, J.: Highway and Byways. Cambridge/Mass., and London: The MIT Press, p.1-34.
  52. KORNAI, J. (1986). The Hungarian reform process: visions, hopes and the reality. The Journal of Economic Literature, vol. 24. no. 4 pp. 1687-1737.
  53. KULCSAR, K.(1997). Jogszociologia (A sociology of law). Budapest: a book published by Kulturtrade.
  54. LI, Sh. –LI,Sh.-ZHANG,W.(2000). The road to capitalism: competition and institutional change in China. The Journal of Comparative Economics, vol.28.no.2. pp. 269-292.
  55. LO, V and TIAN, X. (2002). Property rights, productivity gains and economic growth: the Chinese experience. Post-Communist Economies, vol.14.no.2. pp.245-258.
  56. MADZAR, L.(2000). A singular constraint on the economic development on the FR of Yugoslavia. In: BRZESKI, A. and WINIECKI, J. eds: A Liberating Economic Journey. London: Cromwell Press for CRCE, pp.339-365.
  57. MALINVAUD, E. (1967). Decentralized procedures for plannig. In: BACHARACH, M. and MALINVAUD,E. eds: Activity Analysis in the Theory of Growth and Planning. Houndmills, UK, MacMillan and New York: St.Martin`s Press, pp.170-208.
  58. MENCINGER, J.(1991). From socialism to capitalism and from dependence to independence: the double transition of Slovenia. Est- Ovest, (Italy), vol.22.no.5.pp.
  59. -92.
  60. MIHALYI, P. (1992). Socialist Investment Cycles: An Analysis in Retrospect. Dordrecht and New York: Kluwer Publishers.
  61. von MISES, L.(1920, 1976). Economic calculation in the socialist commonwealth. In: NOVE,A. and NUTI,M. eds: Socialist Economics. Harmondsworth/UK: Penguin
  62. Books,.pp. 75-91. – original published in: Archiv fuer Sozialwissenschaft und Sozialpolitik, vol.47.no.1.(1920), pp.86-121.
  63. NOLAN, P. (1995). China`s Rise, Russia`s Fall: Politics, Economics and Planning in the Transformation from Stalinism. New York: St. Martin`s Press.
  64. NOLAN, P. (2001). China in the Global Economic System. Cambridge and New York: Cambridge University Press.
  65. NORTH, D. (2003). Understanding the process of economic change - keynote address to the 7th Convention of the International Society for New Institutional Economics, entitled ` Institutions and Change`, Budapest University of Economics and Public Administration, 11 September, 2003.
  66. NOVE, A. and NUTI, M.D. eds. (1976). Socialist Economics. Harmondsworth, UK: Penguin Books.
  67. NOVE, A. (1992). An Economic History of the USSR. (Last and Final Edtion). Harmondsworth, UK-Sidney, etc: Penguin Books.
  68. OECD (2000). Reforming China`s State Owned Enterprises. Paris: a publication of the Industrial Economics Division.
  69. POZNANSKI, K. (1999). Transition as large-scale institutional disintegration. Acta Oeconomica, vol.49.nos/3-4/,pp a-b.
  70. SAKS, S.(1994). The Yugoslav firm. in: BORNSTEIN, M. ed.: Comparative Economic Systems: Models and Cases. Burr Ridge etc: Irwin, pp 300-321.
  71. SCHRAMM, M. and TAUBE,M. (2003). On the co-existence of guanxi and a formal legal system in the PR of China – an institutional approach – paper presented to the 7th Convention of ISNIE entitled `Institutions and Economic Change`, Budapest University of Economics and Public Administration, 13 September.
  72. SCHWEITZER, I.(2002).A hazai beruhazasok alakulasanak fobb iranyzatai az elmult evtizedekben es nehany tanulsag (Major trends of investments in Hungary and
  73. some lessons) parts I and II. Kulgazdasag, vol. 46.nos. 7-8, pp.4-32 and no9, pp 4-30.
  74. SOOS, KA.(1986). Terv, kampany, penz. (Plan, campaigns, money). Budapest: a book jointly published by Kossuth Kiado - Kozgazdasagi es Jogi Konyvkiado.
  75. SRINIVASAN,T.N.(2000). The Washington Consensus a decade later: ideology and the art and science of policy advice. The World Bank Research Observer, vol.15.no.2.pp.265-270.
  76. SRINIVASAN, T.N.(2004). Globalization, growth, inequality and poverty. In: RANIS, G. and KOLODKO, G.W., eds: Globalization and Social Stress. New Haven/CT: Yale University Press/forthcoming/.
  77. SUN, L.X.(1997). Emergence of unorthodox ownership and governance structures in east Asia: an alternative transition path.Helsinki: WIDER Research for Action,no38.
  78. STIGLITZ, J.E.(1994). Whither Socialism? Cambridge/Mass and London: The MIT Press.
  79. STIGLITZ, J.E.(2001). The roaring nineties. The Atlantic Monthly, vol. 290. no.3. pp 75- 89.
  80. SZAMUELY, L. and CSABA, L.(1998). Transition in Hungary and in Hungarian economics. In: WAGENER, H.-J. ed.: Economic Thought in Communist and Post-Communist Europe. London: Routledge, pp.157-214.
  81. SZAMUELY, L.(1974). First Models of Socialist Economic Systems. Budapest: Akademiai Kiado.
  82. SZEGVARI, I. /(991). Systemic change and convertibility: a comparison of Poland, Hungary and Yugoslavia. In: CSABA, L. ed: Systemic Change and Stabilization in Eastern Europe. Aldershot ,UK and Brookfield, Vermont, USA: Dartmouth Publishing Co, pp.33-44.
  83. SZENTES, T. (1999). The transformation of CEE: a study on the international context of the process. In: TEMESI, J. and ZALAI, E. eds: Back to a Market Economy. Budapest: Akademiai Kiado,pp 91-108.
  84. TIAN, G. (2000). Property rights and the nature of Chinese collective enterprises. The Journal of Comparative Economics, vol.28.no.2. pp.247-268.
  85. TYSON, L.A.(1980). The Yugoslav Economic System and Its Performance in the 1970s.Berkeley; Institute of International Studies.
  86. TYSON, L.A.(1983). Investment allocation under market socialism: Hungary and Yugoslavia compared. The Journal of Comparative Economics, vol.11.no.3.pp a-b.
  87. UVALIC, M.(1992). Investment and Property Rights in Yugoslavia: the Long Transition to a Market Economy. Cambridge and New York: Cambridge University Press.
  88. XIA, Y-L.(2004). Globalization and China`s institutional progress during transition. In: RANIS, G. and KOLODKO, G., eds: Globalization and Social Stress.
  89. New Haven/CT/USA: Yale University Press/forthcoming/
  90. YU, L.C. (2000). Control, incentives and competition: the impact of reform on Chinese state-owned enterprises. Economics of Transition, vol.8.no.1.pp.151-174.
  91. WHITING, S.(2001). Power and Wealth in Rural China. Cambridge and New York: Cambridge University Press.
  92. WILHELM, J.H. (2003). The failure of the American Sovietological profession. Europe-Asia Studies, vol.55.no.1.pp 59-72.
  93. WILLIAMSON, J. (2000). What should the World Bank think about the Washington Consensus? The World Bank Research Observer, vol.15.no.2. pp.251-264.
  94. WU, F. (2003). Chinese economic statistics: caveat emptor! Post-Communist Economies, vol.15.no.1.pp127-145.
  95. ZALAI, E.(2001). Matematikai kozgazdasagtan. (Mathematical economics). Budapest; KERSZOV Uzleti es Jogi Kiado.