Blunt to sharpened razor: incremental reform and distortions in the product and capital markets in China

Vista sencilla de ítem
dc.creatorZhang, Xiaobo
dc.creatorTan, Kong-Yam
dc.date2004
dc.date2024-10-24T12:43:19Z
dc.date2024-10-24T12:43:19Z
dc.date.accessioned2026-06-27T14:55:16Z
dc.descriptionA key objective of China's reform program was to reduce distortions in the economic system and enhance growth. However, when implemented in incremental and partial ways, local governments or individuals have chance to capture rents inherent in the reform process. Young (2000) warned that the rent-seeking behavior might lead to increasing market fragmentation. Empirical studies have since shown that this did not happen in the product markets. In this paper we argue that as rents from the product markets were squeezed out during the reform process, rent-seeking behavior shifted to the factor markets, especially the capital and land markets. The reform process now needs to be deepened to ensure that the factor markets also become more integrated and efficient. -- Authors' Abstract
dc.formatapplication/pdf
dc.identifierhttps://hdl.handle.net/10568/156142
dc.identifier.urihttp://hdl.handle.net/123456789/89425
dc.languageen
dc.publisherInternational Food Policy Research Institute
dc.rightsOpen Access
dc.sourceZhang, Xiaobo; Tan, Kong-Yam. 2004. Blunt to sharpened razor: incremental reform and distortions in the product and capital markets in China. DSGD Discussion Paper 13. https://hdl.handle.net/10568/156142
dc.subjectmarkets
dc.subjectequality
dc.subjectintegrated markets
dc.subjecteconomics
dc.subjecteconomic growth
dc.subjectlocal government
dc.subjecteconomic theories
dc.subjectcommodity markets
dc.subjectland markets
dc.subjecteconomic systems
dc.titleBlunt to sharpened razor: incremental reform and distortions in the product and capital markets in China
dc.typeWorking Paper

Archivos

Colecciones

Instituto Internacional de Investigación sobre Políticas Alimentarias (IFPRI)