Growth and transition: Why has china's performance been so different?

Abstract

This paper explains the differences in performance between the Central and Eastern European countries (CEECs) since 1989 and China since its 1978-1979 reforms by the differing goals of economic reformers in China and in the CEECs. In China reforms were intended to promote growth rather than to create a market-based economy. Eastern European reformers' main goal has been the creation of a market-oriented economy. The paper focuses on policies toward foreign trade, foreign investment, and foreign exchange since these highlight the differences in goals.J. Comp. Econom.,December 1997,25(3), pp. 422-440. University of Adelaide, Adelaide, South Australia 5005, Australia. © 1997 Academic Press.