search query: @indexterm Socialist economics / total: 108
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| Author: | Yao, S. |
| Title: | Privilege and Corruption: The Problems of China's Socialist Market Economy |
| Journal: | American Journal of Economics and Sociology
2002 : JAN, VOL. 61:1, p. 279-300 |
| Index terms: | CHINA CORRUPTION MARKET ECONOMY SOCIALIST ECONOMICS ECONOMIC CONDITIONS |
| Language: | eng |
| Abstract: | It is well known that China's corruption problem has become more and more serious during the period of economic reform. This paper examines China's corruption problem with the help of several simple economic models. The author proposes the concepts of implicit corruption and explicit corruption. We explain how the granting of privileges has directly created implicit corruption in China's socialist market economy. The author argues that the long-term existence of the same privileged group in Chinese society has led to widespread collusion among its members, and as a result, these privileged group members, by utilizing their monopoly power, are able to seize almost all the wealth created by the ordinary Chinese. |
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