An Essay on Economic Reforms and Social Change in China

The author applies a systems-oriented "holistic" approach to China's radical economic reforms during the past quarter of a century. He characterizes China's economic reforms in terms of a multidimensional classification of economic systems. When looking at the economic consequences of China's change of economic system, he deals with both the impressive growth performance and its economic costs. The author also studies the consequences of the economic reforms for the previous social arrangements in the country, which were tied to individual work units-agriculture communes, collective firms, and state-owned enterprises. He continues with the social development during the reform period, reflecting a complex mix of social advances, mainly in terms of poverty reduction, and regresses for large population groups in terms of income security and human services, such as education and, in particular, health care. Next, the author discusses China's future policy options in the social field, whereby he draws heavily on relevant experiences in industrial countries over the years. The future options are classified into three broad categories: policies influencing the level and distribution of factor income, income transfers including social insurance, and the provision of human services.

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Bibliographic Details
Main Author: Lindbeck, Assar
Language:English
en_US
Published: World Bank, Washington, DC 2006-11
Subjects:AGRICULTURAL LAND, AGRICULTURE, ANNUAL SALES, ASSET MANAGEMENT, ASSET MANAGEMENT COMPANIES, ASSET STRIPPING, ASSETS, AUTONOMY, BALANCE SHEETS, BANK DEPOSITS, BANK LENDING, BANK LOANS, BONDS, CAPITAL FLOWS, CAPITAL MOBILITY, CENTRAL GOVERNMENT, COLLECTIVE OWNERSHIP, COLLUSION, COMMERCIAL BANKS, COMPARATIVE ADVANTAGE, CURRENT PRICES, DEBT, DECENTRALIZATION, DEGREE OF COMPETITION, DEREGULATION, DEVELOPMENT STRATEGY, DISPOSABLE INCOME, DISTRIBUTION OF INCOME, ECONOMIC DECISIONS, ECONOMIC DEVELOPMENT, ECONOMIC EFFICIENCY, ECONOMIC GROWTH, ECONOMIC INCENTIVES, ECONOMIC PERFORMANCE, ECONOMIC REFORM, ECONOMIC REFORMS, ECONOMIC SYSTEM, ECONOMIC SYSTEMS, EMPLOYMENT CONTRACT, ENTREPRENEURSHIP, EXECUTIVE DIRECTORS, EXPORTS, EXPROPRIATION, FACTOR MARKETS, FINANCIAL ASSETS, FINANCIAL CRISES, FINANCIAL CRISIS, FINANCIAL INSTITUTIONS, FINANCIAL INTERMEDIARIES, FINANCIAL MARKETS, FINANCIAL RESOURCES, FINANCIAL STABILITY, FOREIGN FIRMS, FOREIGN MARKETS, GDP, GOVERNMENT AGENCIES, GOVERNMENT INTERVENTIONS, GOVERNMENT OFFICIALS, GOVERNMENT REGULATIONS, GROWTH RATE, GROWTH RATES, HUMAN CAPITAL, INCENTIVE CONTRACTS, INCOME, INDUSTRIAL ECONOMICS, INDUSTRIALIZATION, INHERITANCE, INITIAL PUBLIC OFFERINGS, INSURANCE, INSURANCE COMPANIES, INTEREST RATES, INTERNATIONAL COMPETITION, INTERNATIONAL FINANCE, INTERNATIONAL MARKETS, INTERNATIONAL TRADE, INVESTMENT DECISIONS, JOB PROTECTION, JOINT VENTURES, LABOR CONTRACTS, LABOR MARKET, LABOR MARKETS, LABOR PRODUCTIVITY, LAYOFFS, LEGAL SYSTEM, LEGISLATION, LOCAL GOVERNMENT, LOCAL GOVERNMENTS, LOCAL OFFICIALS, MACROECONOMIC STABILITY, MACROECONOMIC STABILIZATION, MACROECONOMIC STABILIZATION POLICY, MANAGERS OF STATE, MARKET ECONOMY, MARKET FORCES, MARKET MECHANISMS, MARKET PRICES, MIGRATION, MIXED ECONOMY, MONOPOLY, MORAL HAZARD, MUNICIPALITIES, NATIONAL ECONOMY, NATIONAL GOVERNMENT, NATURAL RESOURCES, NONPERFORMING LOANS, OWNERSHIP OF ASSETS, OWNERSHIP STRUCTURE, PENSION FUNDS, PENSIONS, POLITICAL AUTHORITIES, POLITICAL RISKS, POLITICAL SYSTEM, PRIVATE CHARACTER, PRIVATE ENTREPRENEURS, PRIVATE FIRMS, PRIVATE INDIVIDUALS, PRIVATE OWNERSHIP, PRIVATE PENSION, PRIVATE SECTOR, PRIVATIZATION, PRIVATIZATION PROCESS, PRODUCT MARKETS, PRODUCTIVITY, PROFIT MARGINS, PROPERTY RIGHTS, PUBLIC AUTHORITIES, PUBLIC OWNERSHIP, PUBLIC SECTOR, PUBLIC UTILITIES, PUBLIC-SECTOR, REAL INTEREST RATES, RECAPITALIZATION, REGIONAL DECENTRALIZATION, REORGANIZATION, RETIREMENT, RETURN ON INVESTMENT, SALES REVENUES, SOCIAL CHANGE, SOCIAL INSURANCE, SOCIALIST COUNTRIES, STATE BANKS, STATE CONTROL, STATE ENTERPRISES, STATE FIRMS, STATE SECTOR, TAX RATES, TRANSPARENCY, UNEMPLOYMENT, UNEMPLOYMENT RATE, VALUE ADDED, WAGES, WEALTH, WTO,
Online Access:http://documents.worldbank.org/curated/en/2006/11/7208933/essay-economic-reforms-social-change-china
https://hdl.handle.net/10986/8874
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