Chinas Economic Transformation 2e 2nd Edition

by Gregory C. Chow (Author)

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ISBN-13: 978-1405156240

ISBN-10: 1405156244

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China's Economic Transformation
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Will China's recent economic growth continue at the same rate? For how long? What obstacles lie in the way of sustained growth? Who gains and why? Gregory Chow covers these and many other issues.

Provides a penetrating and comprehensive analysis of the historical, institutional and theoretical factors that have contributed to China's economic success
Reveals new findings concerning the roles of market institutions, Chinese human capital, private ownership, forms of government, political conditions, and bureaucratic economic institutions
The new edition covers a diverse set of important issues: environmental restraints; income distribution; rural poverty; the education system; healthcare; exchange rate policies; monetary policies; and financial regulation.

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Editorial Reviews

Review

"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

Book Description

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.

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Product details

Publisher ‏ : ‎ John Wiley &Sons; 2nd edition (April 1, 2010)
Language ‏ : ‎ English
Paperback ‏ : ‎ 466 pages
ISBN-10 ‏ : ‎ 1405156244
ISBN-13 ‏ : ‎ 978-1405156240
Item Weight ‏ : ‎ 1.87 pounds
Dimensions ‏ : ‎ 6.5 x 1.05 x 9 inches

Best Sellers Rank: #5,181,361 in Books (See Top 100 in Books)
- #687 in Comparative Economics (Books)
- #6,380 in Economic Policy
- #6,483 in Economic Policy & Development (Books)

Customer Reviews:
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About the authors

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Gregory C. Chow
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Class of 1913 Professor of Political Economy and Professor of Economics, Emeritus, Princeton University, teaching a course on the Chinese economy. Current professional interest is economic analysis and policy as applied to the Chinese economy. Do Taichi first thing in the morning before breakfast and a second exercise chosen from golf, tennis and swimming. Write a column for Diyi Caijing Ribao (China Business Daily) and articles for Nanfang Dushi Bao (Southern Metropolitan Daily). Some of these articles are published in my book "Interpreting China's Economy." Have 2 sons, John and James, both engineerers, and a daughter Jeanne Mei, a radiologist at the Children's Hospital in Boston, and six grand-children.
Wife Paula was founding Director of the International Center (Davies International Center since 2005) at Princeton University from 1974 to June 2010. She is one of the best known Princetonians. While visiting the Chinese University of Hong Kong in the early 2000s I met a fellow visitor for breakfast and told him I was from Princeton. He immediately asked, "Do you know Paula Chow?"
Visit China often to learn more about the Chinese economy from friends in academic, business and government institutions.
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Charles Humphries
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Discover more of the author’s books, see similar authors, read author blogs and more
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Jeffrey Rivera

Five Stars

Reviewed in the United States on November 18, 2014

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Excellent Service!!!!!

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AllenLi

Five Stars

Reviewed in the United States on October 11, 2014

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This is basically a new book.

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Bibliophile

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Reviewed in the United States on October 5, 2003

For the next edition - if there is one - I would like to see Professor Chow discuss at greater length two related issues: trade and currency.
Since the middle of 2003, China has become America's third largest trade partner (America is China's second largest partner), replacing Japan, according to the US Dept of Commerce.
The issue of the renminbi (yuan) is a hot potato in this election year, as many American politicians are clamoring for a "free-floating" of China's currency (as a solution to America's jobless problem, trade deficit, etc.).
Professor Chow needs to deal with this issue. I've heard counter-arguments from some real heavyweights: David Eldon, the Chairman of the global banking giant HSBC, and 2 Nobel Laureates in Economics - Robert Mundell, the world's #1 expert on international currency, and Joseph Stiglitz, the former Chief Economist of the World Bank and Chairman of the President's Council of Economic Advisers. All three point out that fooling around with the renminbi now would destroy the world economy without doing anything to solve America's problems. The editors of Fortune, Forbes, and Business Week agree: Be careful what you wish for, because you may get more than expected.
My guess is, Professor Chow will take these issues apart with the same analytical and keen intelligence he addresses other issues related to China's economic transformation.

4 people found this helpful

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Peter McCluskey

Broad, Conventional Overview

Reviewed in the United States on January 13, 2005

This book provides a good deal of moderately valuable information about the Chinese economy. It also has large sections of what seem like pieces of an ordinary introductory econ textbook, which will be tedious to anyone who has taken an econ course without being terribly valuable to those who haven't. The book appears fairly thorough and objective, but not very imaginative or insightful.

One point he makes that I found worth remembering is to point out the similarities between Chinese state ownership of enterprises with U.S. University ownership of companies created to commercialize their research. In both cases the owning institution has a mission very different from commerce, but often allows the enterprise to function as a business. Alas, he doesn't explore the incentive structures that make this often work in China but create monopoly-style inefficiencies when most other governments own businesses.

5 people found this helpful

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