China's Economic Transformation / Edition 2

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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

Foreign Affairs
A Chinese-born professor emeritus of economics at Princeton and noted econometrician, Chow provides a comprehensive overview of China's remarkable evolution from Soviet-style central planning to a market economy "with Chinese characteristics." He covers inter alia the systems of education, law and dispute settlement, banking and finance, population control, foreign trade and investment, and development plans for western China. The treatment is didactic, with excursions into basic economic concepts, so that the book can be used as the basis for a course on China's economic development. It is spiced with examples of Chow's quantitative approach to analyzing China but written with a general reader in mind. The book is full of factual material and sympathetic interpretation of recent developments in China — which, Chow believes, can and should learn from the West without needing to adopt Western institutions wholesale.
From the Publisher
“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." (Expofairs, 14 May 2015)
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Product Details

  • ISBN-13: 9781405156240
  • Publisher: Wiley
  • Publication date: 2/13/2007
  • Edition description: Revised
  • Edition number: 2
  • Pages: 466
  • Product dimensions: 0.94 (w) x 9.69 (h) x 7.44 (d)

Meet the Author

Gregory C. Chow is the Class of 1913 Professor of Political Economy and Professor of Economics, Emeritus, at Princeton University. His previous books include Analysis and Control of Dynamic Economic Systems (1975), Econometrics (1983), The Chinese Economy (1985), Understanding China's Economy (1994), Asia in the Twenty-first Century (1997), and Dynamic Economics (1997). He has advised top government officials in mainland China and Taiwan, and in May 2001 the Econometric Research Program at Princeton was named in his honor.

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Table of Contents


Introduction: Transformation of China’s Economy.

Part I: Historical Background and General Survey.

1. Economic Lessons from History.

2. Experiment with Planning and Economic Disruptions.

3. Economic Reform up to Middle 1990s.

4. Problems and Prospects of Further Reform.

Part II: Analysis of the Macroeconomy.

5. Economic Growth.

6. Economic Fluctuations.

7. Macroeconomic Policies.

8. Effects of Political Movements on the Macroeconomy.

Part III: Topics in Economic Development.

9. Consumption.

10. Western Development and Environmental Policies.

11. Population.

12. Human Capital.

Part IV: Analysis of Individual Sectors.

13. Banking and Financial System.

14. Shanghai Stock Price Determination.

15. Behavior of State Enterprises.

16. The Non-state Sectors.

17. Foreign Trade.

18. Foreign Investment.

Part V: Studies of Economic Institutions and Infrastructure.

19. Use or Misuse of Assets.

20. The Legal System and the Role of Government.

21. Education System and Policy.

22. Taking Stock and Looking Ahead.

Conclusion: Lessons for the Study of Economic Transformation.


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Sort by: Showing 1 Customer Reviews
  • Anonymous

    Posted September 15, 2011

    Not bad

    Book was shipped within two weeks and the books is in okay condition with mild highlighting..... but definately much better deal than buying it from book stores

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