OECD Development Centre Working Papers

ISSN: 
1815-1949 (online)
http://dx.doi.org/10.1787/18151949
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The OECD Development Centre links OECD members with developing and emerging economies and fosters debate and discussion to seek creative policy solutions to emerging global issues and development challenges. This series of working papers is intended to disseminate the OECD Development Centre’s research findings rapidly among specialists in the field concerned. These papers are generally available in the original English or French, with a summary in the other language.
 

The Economics and Politics of Transition to an Open Market Economy

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English
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Author(s):
Wing Thye Woo
01 Oct 1999
Bibliographic information
No.:
153
Pages:
66
http://dx.doi.org/10.1787/322178001745

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China is considered to be a particularly successful example of a gradual approach to transition from a command economy to a market economy. This paper reviews the initial conditions, the calendar of reform steps, and the political preconditions for liberalisation. It argues that gradualism was rather the result of a political balancing act between orthodox and reform–minded elements in the Chinese Communist Party than a deliberate approach towards facilitating transition. Economic liberalisation was considered as an instrument for safeguarding the power of the Party, but opinions differed on the degree of liberalisation needed to achieve this goal. Thus, the pace and the direction of the reform process were very much a function of the composition of the leadership of the Party at any given time ...

 
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