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From command-and-control to reform: 1949–1978

In: The Institutional Evolution of China

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Abstract

In this period, the government controlled and operated the economy under the Soviet-style planned system. Only a small portion of consumer products were sold to households through the market. The chapter reviews the organisational structures and operating mechanism of this system, including the ‘lines’ and ‘blocks’. These structures, along with the mechanism, were the precursors of the current Chinese society, and some of them remain in the existing bureaucratic-market structure. The chapter reviews the political system, the planning system, collective farming in the rural area, urban enterprise, urban and rural households, and the financial system during the planned period. The main problems of a planned system are related to information and incentives. Shocks from the political turmoil during this period, especially the Cultural Revolution, hurt every person in Chinese society and led to a consensus on the need for reform.

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  • ., 2018. "From command-and-control to reform: 1949–1978," Chapters, in: The Institutional Evolution of China, chapter 2, pages 23-43, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:16489_2
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    Cited by:

    1. Panda, Debashish & Ramteke, Manojkumar, 2019. "Preventive crude oil scheduling under demand uncertainty using structure adapted genetic algorithm," Applied Energy, Elsevier, vol. 235(C), pages 68-82.

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