Asia Review 2023 KCI Impact Factor : 0.86
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pISSN : 2234-0386
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The End of the Long Boom in China?: A Comparative Institutional Analysis of Long-Term Growth in China
- Asia Review
- Abbr : SNUACAR
- 2016, 6(1), pp.195~224
- Publisher : 아시아연구소
- Research Area : Social Science > Social Science in general
1위튼대학교 사회조사연구소
Candidate
ABSTRACT
This article identifies the established institutional foundations for longterm growth in the People’s Republic of China. The peculiarities of the Chinese economic system include the following: a policy of selective integration into the world economy; a stabilizing role for private-public growth alliances mostly at the local levels; strong state permeation in corporate governance and corporate finances; company access to large domestic markets; segmented systems of low cost, yet comparably well-educated labor; and increasing innovation capabilities. Mutual compatibilities of these features were formed for an institutional “fit” and helped in establishing a relatively stable growth for the Chinese regime in the 2000s. Yet, this variegated and state-permeated capitalism is currently confronted with serious challenges. They are addressed in this paper in order to tackle the question of whether the long boom is about to come to an end.
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