OWNERSHIP AND THE ECONOMIC DEVELOPMENT OF CHINA
DOI:
https://doi.org/10.12775/EiP.2007.007Keywords
economic development, ownership in economy, agriculture, industry effectiveness, economic growthAbstract
For more than two decades the spectacular growth of Chinese GDP has been observed. It is worth asking about the sources of that phenomenon other than the capital and labor input only. The major point of the article is the assumption that strengthening the institution of private ownership in China played an important part in improving economic performance of individuals, firms and economy as a whole. The validation of that hypothesis is carried out in two ways. Firstly, the role of the institution of private ownership in the economic theory is shortly examined, then the research is focused on the relations between institutional framework and economic efficiency in China.References
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