La longue marche de la transition chinoise

China has not kept up the illusion of a priori institutional reforms for conditioning the passage toward a market economy. The economic transition there has gradually redefined the incentives for the executives and local leaders who actively help develop the market economy. The maintenance of mixed structures, the administration's interventions in management, still collective forms of property... all this is justified by minimizing the transaction costs during the transition. This institutional flexibility was, initially, coupled with remarkable growth based on the emergence of a slightly capitalistic non-state sector. But it could not make up for the lagging state sector with its deficits, which have repercussions throughout the economy. The reform of the state sector is now being carried out in a quite unfavorable context: the Asian crisis, slower growth and mounting social tension with the risks of political destabilization

Business · China · Context (archaeology · Economic system · Economics · Economy · Flexibility (engineering · Geography · Incentive · Lagging · Market economy · Political science · Politics · State (computer science · Transaction cost · French Urban and Social Studies