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Inflation and Investment Controls in China

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  • Huang,Yasheng

Abstract

How has the Chinese central government been able to avoid the crippling hyperinflation that has bedeviled so many developing and centrally planned economies? China's unique, de facto federalism, Huang argues - a combination of economic and fiscal decentralization and strong political centralization - has spurred economic growth and allowed political institutions to impose restraints on inflation from the top down. Focusing on central-local relations and the controlling role of political institutions, Yasheng Huang explains why local Chinese officials comply, even against their own economic interests, with the investment-reduction and inflation-control policies of the central government. Drawing upon institutional economics, he hypothesizes that the central government's powerful role in appointing and firing bureaucrats at the local level helps to reconcile some of the central-local economic policy differences. Huang uses systematic data analysis to test this proposition. This book also offers detailed descriptions of the roles of local governments in economic and investment management.

Suggested Citation

  • Huang,Yasheng, 1999. "Inflation and Investment Controls in China," Cambridge Books, Cambridge University Press, number 9780521665735, October.
    • Handle: RePEc:cup:cbooks:9780521665735
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    Cited by:

    1. Pravakar Sahoo & Abhirup Bhunia, 2014. "China's Manufacturing Success Lessons for India," IEG Working Papers 344, Institute of Economic Growth.
    2. Wenting Ma & Rui Mu & Martin de Jong, 2021. "How Do Political Features Influence the Co-Production of Government Projects? A Case Study of a Medium-Sized Chinese City," Sustainability, MDPI, vol. 13(14), pages 1-18, July.
    3. Petra Persson & Ekaterina Zhuravskaya, 2016. "The Limits of Career Concerns in Federalism: Evidence from China," Journal of the European Economic Association, European Economic Association, vol. 14(2), pages 338-374.
    4. Nan Gao & Pinghan Liang & Lixin Colin Xu, 2021. "Power struggle and pork barrel politics in authoritarian countries: Evidence from China," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 29(1), pages 123-150, January.
    5. Bakari, Sayef, 2022. "The Nexus between Domestic Investment and Economic Growth in Developed Countries: Do Exports matter?," MPRA Paper 114394, University Library of Munich, Germany.
    6. Gao, Ming & Gu, Qiankun & He, Shijun, 2022. "Place-based policies, administrative hierarchy, and city growth: Evidence from China," Economic Modelling, Elsevier, vol. 115(C).
    7. Nan Gao & Pinghan Liang, 2016. "Fresh Cadres bring Fresh Air? Personnel Turnover, Institutions, and China's Water Pollutions," Review of Development Economics, Wiley Blackwell, vol. 20(1), pages 48-61, February.

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