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Market in State

Author

Listed:
  • Zheng,Yongnian
  • Huang,Yanjie

Abstract

Focusing on the evolving relations between the state and market in the post-Mao reform era, Yongnian Zheng and Yanjie Huang present a theory of Chinese capitalism by identifying and analyzing three layers of the market system in the contemporary Chinese economy. These are, namely, a free market economy at the bottom, state capitalism at the top, and a middle ground in between. By examining Chinese economic practices against the dominant schools of Western political economy and classical Chinese economic thoughts, the authors set out the analytical framework of 'market in state' to conceptualize the market not as an autonomous self-regulating order but part and parcel of a state-centered order. Zheng and Huang show how state (political) principles are dominant over market (economic) principles in China's economy. As the Chinese economy continues to grow and globalize, its internal balance will likely have a large impact upon economies across the world.

Suggested Citation

  • Zheng,Yongnian & Huang,Yanjie, 2018. "Market in State," Cambridge Books, Cambridge University Press, number 9781108473446.
    • Handle: RePEc:cup:cbooks:9781108473446
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    Citations

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    Cited by:

    1. Magazzino, Cosimo & Mele, Marco, 2021. "On the relationship between transportation infrastructure and economic development in China," Research in Transportation Economics, Elsevier, vol. 88(C).
    2. Jeffrey Ng & Walid Saffar & Janus Jian Zhang, 2020. "Policy uncertainty and loan loss provisions in the banking industry," Review of Accounting Studies, Springer, vol. 25(2), pages 726-777, June.
    3. Xinyuan Liu & Zaiyan Wei & Mo Xiao, 2020. "Platform Mispricing and Lender Learning in Peer-to-Peer Lending," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 56(2), pages 281-314, March.
    4. Han, Wenjing & Zhang, Xiaoling & Zheng, Xian, 2020. "Land use regulation and urban land value: Evidence from China," Land Use Policy, Elsevier, vol. 92(C).
    5. Victor Aguirregabiria & Jihye Jeon, 2020. "Firms’ Beliefs and Learning: Models, Identification, and Empirical Evidence," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 56(2), pages 203-235, March.
    6. Ming Gu & Minxing Sun & Yangru Wu & Weike Xu, 2021. "Economic policy uncertainty and momentum," Financial Management, Financial Management Association International, vol. 50(1), pages 237-259, March.
    7. Yi-Chang Chen & Shih-Ming Kuo & Yonglin Liu & Zeqiong Wu & Fang Zhang, 2022. "Improving Returns on Strategy Decisions through Integration of Neural Networks for the Valuation of Asset Pricing: The Case of Taiwanese Stock," IJFS, MDPI, vol. 10(4), pages 1-15, October.
    8. Mariana De Santish & María Inés Larai & Andrea Carrazana Riveraj & María Noelia Garberok & Carolina Judith Castroff, 2020. "Binge Drinking and Risk Preferences: an application to college students in Argentina," Asociación Argentina de Economía Política: Working Papers 4337, Asociación Argentina de Economía Política.
    9. Jeffrey Henderson & Magnus Feldmann & Nana de Graaff, 2021. "The Wind from the East: China and European Economic Development," Development and Change, International Institute of Social Studies, vol. 52(5), pages 1047-1065, September.
    10. Yifei Li & Xiaohua Zhong, 2021. "‘For the People’ Without ‘by the People’: People and Plans in Shanghai's Waterfront Development," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 45(5), pages 835-847, September.
    11. Bhabani Shankar Nayak, 2020. "Impossible Theorem and Possibilities of Development Studies," Journal of Development Policy and Practice, , vol. 5(2), pages 133-148, July.

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