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The “China Miracle”: Thinking on Economic Theory Innovation

Author

Listed:
  • Bin Xia

    (Counselors Office of The State Council of The People’s Republic of China, Beijing, China2National Economics Foundation, Beijing, China)

Abstract

Starting with explaining the differences between theory and experience, based on various schools of economic theories, this paper sorts out and evaluates different views of Chinese Economists’ theoretical summaries of the “economic miracle” for 40 years since reform and opening-up, and then analyses four fundamental reasons behind the divergence among the economists. The paper expresses the understanding of Chinese Economics, the School of Chinese Economics and the Socialist Political Economy with Chinese Characteristics and puts forward several issues for further improvement on innovations of economic theory.

Suggested Citation

  • Bin Xia, 2019. "The “China Miracle”: Thinking on Economic Theory Innovation," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 10(03), pages 1-16, October.
    • Handle: RePEc:wsi:jicepx:v:10:y:2019:i:03:n:s1793993319500145
    DOI: 10.1142/S1793993319500145
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    References listed on IDEAS

    as
    1. Mark Blaug, 1997. "Great Economists before Keynes," Books, Edward Elgar Publishing, number 1237.
    2. Vaughn,Karen I., 1998. "Austrian Economics in America," Cambridge Books, Cambridge University Press, number 9780521637657.
    Full references (including those not matched with items on IDEAS)

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