In Economic Reform and Institutional Innovation, the author identifies three building blocks that have contributed to China's success: decentralization, an encompassing state, and volitional pragmatism. Decentralization provides dynamism to institutional innovation. An encompassing state ensures the survival and legalization of viable institutional innovations amidst the competition among different political groups. Volitional pragmatism enables the political entrepreneurs to hold a realistic attitude toward institutions while keeping an open mind to all future possibilities. The interplay between these three factors has shaped China's reform trajectory. Along the path though, there have been constant interactions between local experiments and the central government's ideological adjustments. This has created many mid-way institutions that do not fit into any existing institutional framework. However, it is the accumulation of these mid-way institutions that has stimulated China's transition from a planned to a market economy.KEY FEATURES- Written by a group of prominent Chinese economists, the series represents a concerted effort bynative scholars to analyze the 'Chinese Miracle' as well as predict its future development.- Each volume examines different aspects of the reform, such as structural reform, entrepreneurship, local governments, specialized markets, innovation and globalization.- Contains numerous graphs and tables.This title is part of China's Reform Studies Series that include:1. China's Specialized Markets2. Development of China in Modern World System3. Economic Growth and Structural Evolution4. Economic Reform and Institutional Innovation5. Incentives and Governance: China's Local Governments6. The Micro-foundation of China's Market Economy7. Toward an Innovative Nation8. Transformation of the Chinese Enterprises China's Reform Studies SeriesISBN 13: 9789000011216 (set)ISBN 10: 9000011213 (set)List Price: U$1,200.00

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