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China's growth miracle in the context of Asian transformation

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  • Justin Yifu Lin

Abstract

Myrdal did not cover China in his Asian Drama. If he did, he would have been most likely pessimistic about China, as he was about other Asian countries in his book. However, China has achieved miraculous growth since the transition from a planned economy to a market economy at the end of 1978. This paper provides answers to the questions: Why was China trapped in poverty before 1978? How was it possible for China to achieve an extraordinary performance during its transition? Why did most other transition economies fail to achieve a similar performance?

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  • Justin Yifu Lin, 2018. "China's growth miracle in the context of Asian transformation," WIDER Working Paper Series wp-2018-92, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2018-92
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    References listed on IDEAS

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