Front flap
China's Economic
Transformation, 2nd Edition
Gregory C. Chow
China's
total output will exceed that of the United States by 2020.
In the
last two and a half 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 reasons behind China's economic success.
Combining historical-institutional and theoretical-quantitative approaches,
Chow provides a penetrating and comprehensive analysis of the factors that have
contributed to China’s
economic evolution. Introducing the reader to the inner workings of the Chinese
economy and detailing the process of its development into a market economy,
Chow observes the economics of institutional changes taking place, the role of China’s
government, and the significance of the historic and cultural traditions of the
country. This new edition examines a diverse set of important issues including
environmental restraints, income distribution, rural poverty, the education
system, healthcare, exchange rate policies, monetary policies, and financial
regulation.
Back flap
Gregory C. Chow
The author 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 Taiwan and Mainland China
and in May 2001 the Econometric Research Program at Princeton
was named the Gregory C. Chow Econometric Research Program in his honor.
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"Gregory Chow shows
effectively that the powerful tools of modern economics fully apply to China,
particularly if allowance is made for its special history and unique
institutions. I strongly recommend this book not only to economists and
students but to all persons who want to know more about the economy of a nation
that is likely to become one of the leaders of this century."
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 discussion of a broad range of current policy
issues: corruption, inflation and money supply, education, healthcare, income
inequality, and rural development.”
James Heckman, University of Chicago
“Gregory Chow has parlayed his knowledge of Chinese
history, culture, economic development, together with his expertise in modern
econometric methods into an assessment of China's economic progress since
1980 and into this new century. His book provides an authoritative
interpretation of a strategic world area about which
outsiders know too little, yet need to know much more.”
Lawrence Klein, University
of Pennsylvania
“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.”
Oliver Blanchard, MIT
"In China's Economic Transformation Gregory Chow brings together his
insights as an economist and more than two decades of significant contact with China's economy
and numerous public officials and academics. He is remarkably successful in
combining historical and institutional information with numerous examples of
systematic economic analysis. The economic analyses are explained in a lucid
manner, making the book accessible to economists and general readers
alike."
D. Gale Johnson, University
of Chicago
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