Edited by Roger D. Congleton and Arye L. Hillman
Chapter 22: Economic development and corruption in China in the shadow of rent
This chapter reviews the role of rents and rent seeking in China, where the transition from a planned economy and economic liberalization proceeded without political liberalization. In an initial phase of transition, markets and decentralization were introduced. Thereafter, a further phase of transition involved recentralization. Both phases created rents and led to rent seeking that was in general associated with corruption. We describe the sources of the rents and present case studies to suggest magnitudes of rents. We show that economic and political activity in Chinese transition cannot be adequately described without reference to rents and rent seeking.
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