A HISTORICAL AND COMPARATIVE PERSPECTIVE ON CHINESE ECONOMIC GROWTH

Abstract

After the collapse of the Soviet Union, there was a transition period from the socialist economic model to the liberal economy model in two important regions of the world. The first is Eastern Europe and the second is China. The transition applied in Eastern European countries is an economic and institutional transformation, which is described as "Shock Therapy". On the other hand, China managed this process with a “Gradual” model, first in the economic field and then with limited institutional transformation. Looking at both regions today, it is seen that the model applied by China has much more positive results than the other. In this study, the economic policies of China in the past 70 years have been analyzed from a historical perspective. Also for the period 1991 – 2018 Johansen cointegration test was applied with GDP, Foreign Direct Investment, Industry and Trade variables. According to the result, these variables act together in the long term. Granger causality test shows that the increase in income in China has a positive relationship with other variables.

Keywords

• China
• Economic Growth
• Shock Therapy

ÇİN EKONOMİK BÜYÜMESİNE TARİHSEL VE KARŞILAŞTIRMALI BİR BAKIŞ

Abstract

Sovyetler Birliği’nin dağılmasından sonra dünyanın iki önemli bölgesinde sosyalist ekonomik modelden liberal ekonomi modeline geçiş süreci yaşanmıştır. İlki Doğu Avrupa ikincisi ise Çin’dir. Doğu Avrupa ülkelerinde uygulanan geçiş “şok terapi” olarak nitelendirilen hem ekonomik hem kurumsal bir dönüşümdür. Çin ise “aşamalı” bir geçişle önce ekonomik alanda daha sonra kısıtlı bir kurumsal dönüşümle bu süreci yönetmiştir. Bugün her iki bölgeye bakıldığında Çin’in uyguladığı modelin diğerine göre çok daha olumlu sonuçları olduğu görülmektedir. Bu çalışmada, son 70 yılda Çin’in bugüne kadarki uyguladığı ekonomi politikaları tarihsel bir perspektifle incelenmiştir.

Keywords

• Çin
• Ekonomik Büyüme
• Şok Terapi
• Aşamalı Model

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