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Re-Interpreting the “Chinese Miracle”: A Multi-Dimensional Framework / Re-Interpreting the “Chinese Miracle”: A Multi-Dimensional Framework

Author

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  • Feng Xingyuan
  • Ljungwall Christer
  • Guo Sujian

Abstract

The rapid economic development and transformation of the Chinese society over the past three decades has, by a large mass of analysts, been called a “Miracle”. This paper not only addresses the shortcomings of existing interpretations but also develops a new multi-dimensional framework based on North′s theory of institutional change and Hayek′s theory of institutional evolution to explain China′s miraculous growth. Our analysis shows that both Hayekian spontaneous order and Popper′s “piecemeal social engineering” played a major role in attaining China′s miraculous growth.

Suggested Citation

  • Feng Xingyuan & Ljungwall Christer & Guo Sujian, 2012. "Re-Interpreting the “Chinese Miracle”: A Multi-Dimensional Framework / Re-Interpreting the “Chinese Miracle”: A Multi-Dimensional Framework," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 63(1), pages 109-128, January.
    • Handle: RePEc:bpj:ordojb:v:63:y:2012:i:1:p:109-128:n:10
    DOI: 10.1515/ordo-2012-0110
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    References listed on IDEAS

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