CHINA'S ECONOMIC TRANSFORMATION 2E

Although China's economic growth can be said to have been driven primarily by an increase in entrepreneurship and a decline in government intervention, Chow (political economics and economics emeritus, Princeton U.) points out that other factors, including increased foreign investment, a significant rise in exports, reforms in finance and banking, and elements of international development also played significant roles. In this edition, which has been significantly updated to reflect new data and current thinking, Chow considers the historical background of China's meteoric rise and analyzes the macroeconomy, emphasizing growth, fluctuations, policies and politics. He describes changes in consumption patterns, the impact of western development and environmental policies, population issues and the rise of human capital, the banking and financial system (including the Shanghai stock price determination), and leading economic institutions and infrastructure, including corruption, the legal system, and educational policy. Annotation c2007 Book News, Inc., Portland, OR (booknews.com)

Gregory C. Chow is the Class of 1913 Professor of Political Economy and Professor of Economics, Emeritus, at Princeton University. His previous books include Analysis and Control of Dynamic Economic Systems (1975), Econometrics (1983), The Chinese Economy (1985), Understanding China's Economy (1994), Asia in the Twenty-first Century (1997), and Dynamic Economics (1997). He has advised top government officials in mainland China and Taiwan, and in May 2001 the Econometric Research Program at Princeton was named in his honor.