China's economic growth has transformed the country from one of the poorest in the world to its second largest economy. Understanding the drivers of growth remains elusive as the country is affected by both its transition from central planning and the challenges of a developing country. This book examines the main themes of growth, offering micro level evidence to shed light on the macro drivers of the economy. It also focuses on law and informal institutions of the economy to highlight the importance of entrepreneurship and the development of the private sector.
Linda Yueh is Fellow in Economics at St Edmund Hall, Oxford University, and Adjunct Professor of Economics at London Business School. She is also Visiting Senior Fellow at the London School of Economics and Political Science's foreign policy think tank, the IDEAS research centre, and was Visiting Professor of Economics at Peking University. Dr. Yueh is also a TV and radio presenter, previously, acting as Chief Business Correspondent for BBC News and host of Talking Business with Linda Yueh for BBC World TV and BBC News Channel based in Singapore and Economics Editor and anchor at Bloomberg TV in London. Dr. Yueh is also a Non-Executive Director of Rentokil Initial, Trustee of the Coutts Foundation, Royal Commonwealth Society, and Malaria No More UK. She is a Fellow of the Royal Society of Arts and serves on the Policy Committee of the Centre for Economic Performance at the London School of Economics, and on the Advisory Board of The Official Monetary and Financial Institutions Forum.
1. Introduction ; 2. New Growth Theories: Transition and Institutional Change ; 3. Neoclassical Growth: Labour Productivity and Corporate Restructuring ; 4. Endogenous Growth: Human Capital and Labour Market Reforms ; 5. 'Catch up' Growth: Technology Transfers and Innovation ; 6. Informal Growth Determinants: Self-Employment and Social Capital ; 7. Financial and Legal Development: The Role of Private Enterprises in Growth ; 8. Global Integration and Growth: Re-Balancing the Economy ; 9. Conclusion: The Role of the State