A Research Agenda for New Institutional Economics
Show Less

A Research Agenda for New Institutional Economics

Edited by Claude Ménard and Mary M. Shirley

Consisting of 30 concise chapters written by top scholars, this Research Agenda probes the knowledge frontiers of issues long at the forefront of New Institutional Economics (NIE), including government, contracts and property rights. It examines pressing research questions surrounding norms, culture, and beliefs. It is designed to inform and inspire students and those starting their careers in economics, law and political science. Well-established scholars will also find the book invaluable in updating their understanding of crucial research questions and seeking new areas to explore.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 15: The China experience: an institutional approach

Cheryl Long

Abstract

Rule of law is commonly believed to be a prerequisite for long-term sustainable growth of a modern economy, where uniform and formal rules apply to all parties in predictable and non-discriminatory ways. During its economic reforms in the past four decades, China has relied upon many alternative arrangements that have served the main function of providing incentives for different groups of economic agents, but are not in line with the spirit of rule of law. Consequently, an important topic for future research is to test the validity of this argument: will China be able to maintain its long-term growth without fundamental changes in its institutional environment? Alternatively, will substitution mechanisms continue to induce effort and promote growth effectively? Another possibility is that we may have missed the improvement of rule of law during China’s reform era, perhaps due to lack of accurate measures. Thus, how can we better measure the institutional quality of various Chinese regions? And finally, what explains evolution of economic institutions in China and how does it relate to that of political institutions? Answers to these questions will undoubtedly help shed light on our understanding of institutional evolution in general.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.