"A timely contribution." Times Higher Education Supplement
“This edition is even better than the first edition since it has extended coverage of agriculture – which continues to be a very important part of the Chinese economy – more on education, on corruption, and other important issues. Even more so now it is required reading for learning about the still fastest growing economy in the world.” Gary Becker, University of Chicago
“Gregory Chow’s China’s Economic Transformation has become the definitive text for the study of the world’s most dynamic economy. The new second edition improves on the magisterial first edition with more extensive discussions of a broad range of current policy issues: corruption, inflation and money supply, education, income inequality, and rural development.” James J. Heckman, University of Illinois, Chicago
“Few economists know as much about China as Gregory Chow. This is an encyclopedic achievement, and the first edition has already become a standard reference.” Olivier Blanchard, MIT
In the last two decades, reform in China has resulted in phenomenal economic growth for the world's most populous country. In this second edition of the successful book China's Economic Transformation, Gregory Chow uses insights gained from over twenty years of teaching and traveling, as well as his work with government officials and academics, to address the motivation behind 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 this transformation. Introducing the reader to the inner workings of the Chinese economy and detailing the process its transformation into a market economy, Chow observes the economics of institutional changes taking place within the country, the role of China's government, and the significance of the historic and cultural traditions of the country. Chow's knowledge of what has happened and what is happening in China leads him to forecast its economic future, and the inevitable worldwide implications.