haku: @author Gordon, R. H. / yhteensä: 7
viite: 5 / 7
| Tekijä: | Gordon, R. H. Li, W. |
| Otsikko: | Chinese enterprise under the reforms |
| Lehti: | American Economic Review
1992 : MAY, VOL. 81:2, p.202-206 |
| Asiasana: | CHINA COMPANIES ECONOMIC SYSTEMS ECONOMIC INDICATORS ECONOMIC EFFICIENCY PRICES INFLATION MANAGERS INDIVIDUAL BEHAVIOUR |
| Kieli: | eng |
| Tiivistelmä: | The shift towards decentralized decision making during the recent decade of economic reforms from 1979 to 1989 in China, resulted in a rapid increase in output and in productivity. Yet in spite of these successes, the economic situation was very bleak by the end of the reform period. The causes both the success and the failure of reforms are examined. First the situation in the state-owned sector is discussed, then the private and collectives sectors are investigated. It is shown that the problems arose mainly from the growing inflation rate. Official prices did not keep up with inflation, resulting in increasing price distortions and in distortions to the measure of profits. All these have led to false behaviour on the part of each economic agent. |
SCIMA