The Oxford Companion to the Economics of China

China's rise as an economic powerhouse raises a number of questions that are the subject of lively debate. How did the country do it? How applicable are the lessons of China's economic reform of the past thirty years to the challenges it faces in the next three decades? What does the detailed pattern of China's success and challenges look like the sub-sectoral and sub-national levels, and what does this mean for future policy? How will China's role as a global economic player evolve? This Oxford Companion to the Economics of China presents an original collection of perspectives on the Chinese economy's past, present and future. The contributors of these entries include: the best of young Chinese researchers based in China and outside; renowned academics from the top universities in China, Europe, and North America; present and past senior officials of international agencies like the World Bank and the International Monetary Fund; senior Chinese government officials from the Centre and the Provinces; and four recipients of the Nobel Prize in Economics. The Companion consists of 99 entries written by the leading China analysts of our time. The topics covered include: The China Model, Future Prospects for China , China and the Global Economy, Trade and the Chinese Economy, Macroeconomics and Finance, Urbanisation, Industry and Markets, Agriculture and Rural Development, Land, Infrastructure and Environment, Population and Labour, Dimensions of Wellbeing and Inequality, Health and Education, Gender Equity, Regional Divergence in China, and China's Provinces: Selected Perspectives. The Editors are four global leaders in Chinese economic analysis and policy who between them have held or hold the following positions: Director General, International Food Policy Research Institute; Co-Editor, China Economic Review; President Chinese Economists Society; Assistant Director of Research at the IMF; Principal Adviser to the Chief Economist of the World Bank; and Professors of Economics at Ivy League Universities.Overview: The Economics of China: Successes and Challenges ; PART 1: THE CHINA MODEL ; 1. From a Manipulated Revolution to Manipulated Marketisation: A Logic of the Chinese Model ; 2. Transition to a Market Economy: Explaining the Successes and Failures ; 3. Chinese Residents' Rising Income Growth and Distribution Inequality ; 4. The Influence of Foreign Economists in the Early Stages of China's Reforms ; 5. China and India: The Pattern of Recent Growth and Governance in a Comparative Political Economy Perspective ; PART 2: FUTURE PROSPECTS FOR CHINA ; 6. Will China Continue to Prosper? ; 7. China: Prospects for Future Growth ; 8. China's Future Performance and Development Challenges ; 9. Rebalancing China's Growth ; 10. China's Middle Income Transition and Evolving Inclusive Growth Strategy ; 11. China's Consumer Revolution ; 12. Future Strategy for Growth and Inclusion ; PART 3: CHINA AND THE GLOBAL ECONOMY ; 13. The Global Impact of China's Growth ; 14. Effects of China's Trade on Other Countries ; 15. The Internationalisation of the Renminbi ; 16. Antidumping and Other Trade Disputes ; 17. US-China Economic Relations ; 18. China and the WTO ; 19. China's Aid Policy ; PART 4: TRADE AND THE CHINESE ECONOMY ; 20. The Chinese Exchange Rate and Global Imbalances ; 21. Using Tax Based Instruments for Innovative China's Trade Rebalancing ; 22. China's Evolving Trade Composition ; 23. Trade Policy Reform and Trade Volume ; 24. Trade and Industrial Policy: China in the 1990s to Today ; PART 5: MACROECONOMICS AND FINANCE ; 25. China: International Macro-economic Impact of Domestic Change ; 26. Chinese Tax Structure ; 27. Government Expenditures ; 28. China's High Saving Puzzle ; 29. Monetary Policy in China ; 30. China's Inflation in the Post-Reform Period ; 31. Local Government Debts ; 32. China is Headed for a Financial Crisis and a Sharp Slowdown ; 33. How Can China's Financial System Help Transform its Economy? ; PART 6: URBANIZATION ; 34. Urbanization in China ; 35. Urban Wages in China ; 36. Local Investment Climates and Competition among Cities ; 37. The Value of Land and Housing in China's Residential Market ; 38. The Urban Pension System ; PART 7: INDUSTRY AND MARKETS ; 39. Development Strategy and Industrialization ; 40. Industrial Upgrading and Productivity Growth in China ; 41. Making Clusters Innovative? A Chinese Observation ; 42. Markets and Institutional Change in China ; 43. Economic Institutions and their Impacts on Firm Strategies and Performance ; 44. Insurance Markets in China ; 45. The Future of Private and State-owned Enterprises in China ; 46. Political Economy of Privatization in China ; PART 8: AGRICULTURE AND RURAL DEVELOPMENT ; 47. Food Security and Agriculture in China ; 48. Food Security in China: Historic and Future Perspectives: How does China feed its People? ; 49. Farm Size and Long-Term Prospects for Chinese Agriculture ; 50. Agriculture R&D and Extension ; 51. Rural Credit in China ; 52. Farmer Cooperatives in China: Development and Diversification ; 53. Village Governance in China ; 54. Local Governance and Rural Public Good Provision ; PART 9: LAND, INFRASTRUCTURE, AND ENVIRONMENT ; 55. Land and Development in China ; 56. Infrastructure in China ; 57. Doing Good While Doing Well: China's Search for Environmentally Sustainable Economic Growth ; 58. Sustainable Water Resources Management in China: Critical Issues and Opportunities for Policy Reforms ; 59. Benefit-Cost Analysis of Ambient Water Quality Improvement in China ; 60. Climate Change ; PART 10: POPULATION AND LABOR ; 61. What Challenges is Demographic Transition Bringing to China's Growth? ; 62. Rural-Urban Migration in China ; 63. The Lewis Turning Point: Is There a Labor Shortage in China? ; 64. Labor and Employment in China ; PART 11: DIMENSIONS OF WELLBEING AND INEQUALITY ; 65. China's Well-Being Since 1990 ; 66. Relative Deprivation in China ; 67. Poverty ; 68. Inequality and the Reform Era in China ; 69. Inequality in China ; 70. Overcoming the Middle-income Trap in China: From the Perspective of Social Mobility ; 71. Trends in Food Consumption and Nutrition in China ; 72. The Great Chinese Famine ; 73. An Emerging New Form of Social Protection in 21st Century China ; PART 12: HEALTH AND EDUCATION ; 74. Economics of Health Transitions in China ; 75. The Changing Landscape of Rural Health Services in China ; 76. Human Capital, Economic Growth, and Inequality in China ; 77. Human Capital: Schooling ; 78. Commanding Heights: The State and Higher Education in China ; 79. Economics and Business Education in China ; PART 13: GENDER EQUITY ; 80. Gender and China's Development ; 81. High Sex Ratio in China: Causes and Consequences ; 82. Gender and Family ; 83. Women and Agricultural Labor in China ; PART 14: REGIONAL DIVERGENCE IN CHINA ; 84. Regional Divergence ; 85. China's Political-Economic Institution: Regionally Decentralized Authoritarianism (RDA) ; 86. China's Regional Development Strategy ; PART 15: CHINA'S PROVINCES: SELECTED PERSPECTIVES ; 87. Anhui: Economic and Social Development ; 88. Guangdong: Maintaining Leadership in China's Next Round of Reforms ; 89. Guangxi: Rapid Development ; 90. Inner Mongolia Autonomous Region: Strategies and Considerations of Development ; 91. Jiangsu: Pattern Change and Structural Adjustment ; 92. Ningxia: Poverty Alleviation and Development ; 93. Shandong: Scientific Development and New Prospects ; 94. Shenzhen: From Labor-Intensive to Innovation-driven Economic Growth ; 95. Sichuan: A West-China Province with Fast Development and Change ; 96. Tianjin: The Third Growth Pole of China ; 97. Western Regions: Ideas of Cultural Industry Development ; 98. Zhejiang: Economic Development