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The rationale behind changeinstitutions, development, and principles of economics based on the China paradigm /

Record Type:	Electronic resources : Monograph/item
Title/Author:	The rationale behind changeby Bi Fan ; translated by Qian Kunqiang.
Reminder of title:	institutions, development, and principles of economics based on the China paradigm /
Author:	Fan, Bi.
other author:	Kunqiang, Qian.
Published:	Singapore :Springer Nature Singapore :2025.
Description:	xxvi, 307 p. :ill. (some col.), digital ;24 cm.
Contained By:	Springer Nature eBook
Subject:	Economic developmentChina.
Online resource:	https://doi.org/10.1007/978-981-97-8854-5
ISBN:	9789819788545$q(electronic bk.)

The rationale behind changeinstitutions, development, and principles of economics based on the China paradigm /
Fan, Bi.

The rationale behind changeinstitutions, development, and principles of economics based on the China paradigm /[electronic resource] :by Bi Fan ; translated by Qian Kunqiang. - Singapore :Springer Nature Singapore :2025. - xxvi, 307 p. :ill. (some col.), digital ;24 cm.

Introduction -- Institutional Issues That Perplex Mainstream Economics -- Existing Studies on Institutions The Pros and Cons -- Reconstructing the Analytical Framework of Institutions -- How Institutions Determine Development The Case of China s Reform and Opening up -- How to Optimize the Supply of Institutions.

This book reviews the historical trajectory of economic studies on institutions and points out their limitations. It constructs a new framework for institutional analysis using transaction costs and transaction modules, proposes measuring transaction costs through time, elucidates the evolution of institutions through these costs, and incorporates the trade of rights between governments, markets, and enterprises into the realm of economic institutional research. The book argues that China's reform and opening-up began with a high transaction cost system. After competing between planned and market economies, China opted for a market economy system characterized by lower transaction costs, unraveling the "three binds" of ownership, resource allocation, and distribution methods with social systems, which can be deemed the "secret" to China's rapid economic development. The book also reveals that under the influence of path dependency, diminishing efficiency, and diversification laws, China's economic system has seen a spread of constraints from points to lines and surfaces, which are eroding reform dividends and posing constraints on development. Through examples in investment, land for construction, energy, and business environments, the book analyzes the changes in transaction costs brought about by institutional changes and their positive and negative impacts on development and proposes a vision and pathway for future reforms.

ISBN: 9789819788545$q(electronic bk.)

Standard No.: 10.1007/978-981-97-8854-5doiSubjects--Topical Terms:

455628
Economic development
--China.

LC Class. No.: HC427

Dewey Class. No.: 330.951

The rationale behind changeinstitutions, development, and principles of economics based on the China paradigm /
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