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Economic Reform in China

In: Change and Challenge in the World Economy

Author

Listed:
  • Bela Balassa

    (The Johns Hopkins University
    The World Bank)

Abstract

After the Second World War, the newly-established socialist states of Asia and Europe adopted, with few modifications, the system of centralized physical planning practised in the Soviet Union. Under this system, the authorities set output targets, material allocation, employment, and other objectives for the producing units and determined the pattern of investment, exports, and imports. The principal targets were established in physical terms, with prices serving chiefly an accounting function.1

Suggested Citation

  • Bela Balassa, 1985. "Economic Reform in China," Palgrave Macmillan Books, in: Change and Challenge in the World Economy, chapter 0, pages 310-336, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-17991-6_14
    DOI: 10.1007/978-1-349-17991-6_14
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    Cited by:

    1. Yuyan Zhang, 1989. "Economic System Reform in China," WIDER Working Paper Series wp-1989-055, World Institute for Development Economic Research (UNU-WIDER).

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