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China in the Global Economy. Failure and Success

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Author

Summary, in English

China’s present economic performance is frequently attributed to market reforms that have opened up the economy to foreign trade and investments. In this article we suggest that a historical comparative approach may cast new light on China’s present success. In imperial China the power of the mandarinate put limits on equality of opportunity and development of human capital, factors crucial for modern economic growth. Reforms and structural change in agriculture and expansion of primary and secondary education during the planning system paved the way for a subsequent market-led economic growth by providing the social capability for China’s economic catch-up.

Publishing year

2008

Language

English

Publication/Series

Thammasat Economic Journal

Volume

26

Issue

4

Document type

Journal article

Topic

  • Economic History

Keywords

  • Economic growth
  • China

Status

Published