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Global Financial Crisis and China's Transition: Balancing Market Power with Active Role of the Government

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  • Jing Ma
  • Lihui Tian

Abstract

China's transition is uncompleted in terms of privatization and of government intervention into economic activities. However, China performed relatively well in handling the 1997 Asia Financial Crisis and the 2008 American Financial Storm, as it keeps a strong government on both macro-economic management and corporate activities. This paper provides some evidence from China to support the theories of developmentalists on the active role of governments in economic development and market failures. We argue that the success of transition requires a balance of market power and government regulations.

Suggested Citation

  • Jing Ma & Lihui Tian, 2012. "Global Financial Crisis and China's Transition: Balancing Market Power with Active Role of the Government," International Economic Journal, Taylor & Francis Journals, vol. 26(3), pages 379-389, September.
    • Handle: RePEc:taf:intecj:v:26:y:2012:i:3:p:379-389
    DOI: 10.1080/10168737.2012.707877
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    1. Friedman, Milton, 2002. "Capitalism and Freedom," University of Chicago Press Economics Books, University of Chicago Press, number 9780226264219, Febrero.
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    3. Friedman, Milton, 2002. "Capitalism and Freedom," University of Chicago Press Economics Books, University of Chicago Press, number 9780226264202.
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