NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Translating Market Socialism with Chinese Characteristics into Sustained Prosperity

Joseph P. H. Fan, Randall Morck, Bernard Yeung

Chapter in NBER book Capitalizing China (2013), Joseph Fan and Randall Morck, editors (p. 1 - 32)
Conference held December 15-16, 2009
Published in November 2012 by University of Chicago Press
© 2013 by the National Bureau of Economic Research

This chapter first sets out the book's purpose, which is to examine the accumulation, distribution, and governance of capital in China, and then provides an overview of the subsequent chapters, demonstrating the interconnections between their findings. These interconnections are illustrated by placing the various chapters in the context of broader research on China, especially recent research into public and private sector governance. Once these interconnections become clear, the chapters coalesce into a comprehensive picture of the uniquely Chinese institutions that characterize its market socialism, and present a picture of the inner workings of the world's soon-to-be largest economy.

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This paper was revised on May 30, 2014

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This chapter first appeared as NBER working paper w17687, Capitalizing China, Joseph Fan, Randall Morck, Bernard Yeung
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