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Analysis of Chinese Economic Reforms Implemented After 1978 with Big Bang and Gradual Approaches

Yıl 2022, Cilt: 5 Sayı: 9, 23 - 43, 15.02.2022

Öz

This study evaluates the reforms implemented in the Chinese economy, which accelerated the development process after 1978, in a theoretical framework with Big Bang and Gradual approaches. Focusing on diplomacy and soft power strategy, China managed to grow in regional and international markets. China made successful attempts to integrate into the liberal global economic system. However, it was understood that the final factors that led to the result of the developing Chinese economy in this process were the low valued exchange rate, foreign trade surpluses, protectionist import policies, and excessively subsidized export sectors. Moreover, the weight of the Chinese public sector in the economy proceeds. These outcomes, which emerged from Chinese economic policy, roll out deviations from the liberal global economic system. Therefore, both approaches fall short of accounting for the reforms applied in the Chinese economy.

Teşekkür

Doğu Asya Araştırmaları Dergisi editör ekibine sundukları hizmetten dolayı teşekkür ediyorum.

Kaynakça

  • ASLUND, A., BOONED P., and JOHNSON S. (1996). How to Stabilize: Lessons from Post-communist Countries, Brookings Paper on Economic Activity, No 1, pp. 217-313.
  • BHAUMIK, S., and ESTRIN S. (2005). How Transition Paths Differ: Enterprise Performace in Russia and China, IZA DP, No. 1484.
  • BRANDT, L., Litwack J., Mileve E., Wang L., Zhang Y., and Zhao L. (2020). China’s Productivity Slowdown and Future Growth Potential, Policy Research Working Paper, No. 9298.
  • BRODSGAARD, K. E., and Rutten K. (2017). From Accelerated Accumulation to Socialist Market Economy in China: Economic Discourse and Development from 1953 to the Present. Leiden: Brill. https://www.jstor.org/stable/10.1163/j.ctt1w8h2tj.11 (accessed September 20, 2021).
  • CAO, Y., QIAN Y., and WEINGAST B.R. (1999). From Federalism, Chinese Style to Privatization, Chinese Style, Economics of Transition, Vol 7, No 1, pp. 103-131.
  • ÇESTEPE H. (2012). Çin’in Dış Ticaretinin Gelişimi, Dünya Ticaret Örgütü’ne Üyelik Öncesi ve Sonrasında Dünya Ticaretine Etkileri, Bülent Ecevit Üniversitesi, Uluslar Arası Yönetim İktisat ve İşletme Dergisi Vol 8, No 17, pp. 46-62.
  • DEWATRIPONT, M., and ROLAND G. (1992). Economic Reform and Dynamic Political Constraints, Review of Economic Studies, No 59, pp. 703-730. FAN, S. (1990). Effects of Technological Change and Institutional Reform on Production Growth in Chinese Agriculture, American Journal of Agricultural Economics, Vol 73, No 2, pp. 266-275.
  • FANG, X. (1992). Economic Transition: Government Commitment and Gradualism, Stanford University Working Paper, No. 12.
  • FISCHER, S., and GELB A. (1991). The Process of Socialist Economic Transformation, Journal of Economic Perspective, Vol 5, No 4, pp. 91-106.
  • GARNAUT, R. (2001). The Economic Growth of the Chinese Economy: A Historical Perspective, In Growth Without Miracles, Readings on the Chinese Economy in the Era of Reform, (eds.) Ross Garnaut and Yiping Huang, New York: Oxford University Press.
  • HILL, R. T. (2019). Chinese Economic Development and its Global Implications, Honors Undergraduate Theses, No. 608, https://stars.library.ucf.edu/honorstheses/608 (accessed September 20, 2021).
  • HUANG, R. (2015). China: A Macro History, Turn of the Century Edition, London and New York: Routledge.
  • KNIGHT, J. (2016). The Societal Cost of China’s Rapid Economic Growth, Asian Economic Growth 15 (2): 138-159.
  • KRUEGER, O. A. (1993). Political Economy of Policy Reform in Developing Countries, Cambridge MA: MIT Press.
  • KUMBA, D. (2010). The Transition of China and Ussr: A Political Economy Perspective, MPRA Paper, No. 22561.
  • LARDY, N.R. (1992). Foreign Trade and Economic Reform in China 1978-1990, Cambridge and New York: Cambridge University Press.
  • LIPTON, D., and SACHS J. D. (1990). Creating a Market Economy in Eastern Europe: The Case of Poland, Brookings Papers on Economic Activity, No 1, pp. 75-133.
  • LOVELY, M.E., and HUANG Z. (2018). Foreign Direct Investment in China’s High-technology Manufacturing Industries, China & World Economy, Vol 26, No 5, pp. 104-126.
  • MARANGOS, J. (2003). Was Shock Therapy Really a Shock?, Journal of Economic Issues, Vol 37, No 4, pp. 943-946.
  • MARTINELLI, C., and TOMMASI M. 1995. Economic Reforms and Political Constraints: on the Time Inconsistency of Gradual Sequencing, UCLA Economics Working Papers, No.736.
  • MONTINOLA, G., QIAN Y., and WEINGAST B.R. (1996). Federalism, Chinese Style: The Political Basis for Economic Success, World Politics, Vol 48, No 1, pp. 50-81.
  • NAUGHTON, B. (1995). Growing Out of the Plan: Chinese Economic Reform, New York: Cambridge University Press.
  • NIELSEN, C. (1993). Multi-Stage versus Single-Stage Reform: Normative Strategies for Reducing Status-Quo Bias in Trade Reform, Aarhus University Working Paper, No. 61.
  • OVERHOLT, W.H. (2019). Hong Kong: The Rise and Fall of One Country Two Systems, Harvard Kennedy School Ash Center.
  • PINGYAO, L. (2006). China’s Macroeconomic Development: Stages and Nonlinear Convergence, China & World Economy, Vol 14, No 1, pp. 15-29.
  • POMFRET, R. (2000). Agrarian Reform in Uzbekistan: Why Have the Chinese Model Failed to Deliver?, Journal of Economic Development and Cultural Change, Vol 48, No 2, pp. 269-284.
  • QI, H., and DAVID M.K. (2019). The Impact of State-Owned Enterprises on China’s Economic Growth, Review of Radical Political Economics, Vol 52, No 1, pp. 96-114.
  • RODRIK, D. (1989). The credibility of Trade Reform: A Policy Maker’s Guide, The World Economy, No 12, pp. 1-16.
  • ROLAND, G., and Verdier T. (1994). Privatization in Eastern EU: Irreversibility and Critical Mass Effects, Journal of Political Economics 54 (2): 161-183.
  • SARAY, M.O, and GÖKDEMİR L. (2007). Çin Ekonomisinin Büyüme Aşamaları (1978-2005), Journal of Yaşar University, Vol 2, No 7, pp. 661-686.
  • SEZEN S. (2009). Çin’in İkinci Uzun Yürüyüşü, Türkiye ve Orta Doğu Amme İdaresi Enstitüsü Amme İdaresi, Desen Ofset A.Ş.
  • SONG, Y., Wang Y., and Xiang Z. (2019). The Slowdown of the Chinese Economy and Business Management, Vol 9, pp. 1653-1665.
  • TABAK H. (2008). Mao Devletinden Devlet Maosu’na: Çin Dış Politikasında Tarih ve Değişim, Türk Bilimsel Derlemeler Dergisi, Vol 1, No 2, pp. 63-76.
  • TOKATLIOGLU, I, (2006). Bir Kalkınma Stratejisi olarak Çin Halk Cumhuriyeti Ekonomik Reformları: 1978-1990 Dönemi, TİSK Akademi, Vol 1, No 1, pp. 100-123.
  • VENTURA K. (2005). Doğrudan Yabancı Sermaye Yatırımlarında Çok Uluslu Şirketlerin Çin Pazarına Yönelme Eğilimleri Türkiye Yönünden Bir Değerlendirme”, Celal Bayar Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, Vol 12, No 1, 2005, p. 88.
  • WANG, J. (2009). The Economic Impact of Special Economic Zones: Evidence from Chinese Municipalities, Job Market Paper. https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.357.5239&rep=rep1&type=pdf (accessed September 20, 2021).
  • WEBER, I.M. (2021). How China Escaped Shock Therapy, London and New York: Routledge.
  • WEI, S. J. (1997). Gradualism versus Big Bang: Speed and Sustainability of Reforms, The Canadian Journal of Economics, Vol 30, No 4b, pp. 1234-1247.
  • WHYTE, M.K. (2009). Paradoxes of China’s Economic Boom, Annual Review of Sociology, No 35, pp. 375-392.
  • WIJNBERGEN, V. S. (1992). Intertemporal Speculation, Shortages, and The Political Economy of Price Reform, Economic Journal, No 102, pp. 1395-1406.
  • WILLIAMSON, J. (1991). International Financial Policy. In Essay in Honor of Jacques J. Polak, (eds.) Jacob A. Frenkel and Morris Goldstein. Washington: IMF.
  • WORL BANK (1991). World Development Report 1991: The Challenge of Development, New York: Oxford University Press.
  • WU, N., and XIAOWEI M. (1993). Managing China’s Balance of Payment, Institute of International Finance Bank of China Occasional Paper, No. 2.
  • ZHANG, W., and YI G. (1998). China’s Gradual Reform: A Historical Perspective, Asia-Pacific Financial & Forecasting Research Centre Technical Report, No. 96-102.
  • ZHAO, Y. (2019). Analyzing the Influence of China's Import and Export Trade on Economic Growth Based on Eviews, Advances in Social Science Education and Humanities Research, N
Yıl 2022, Cilt: 5 Sayı: 9, 23 - 43, 15.02.2022

Öz

Kaynakça

  • ASLUND, A., BOONED P., and JOHNSON S. (1996). How to Stabilize: Lessons from Post-communist Countries, Brookings Paper on Economic Activity, No 1, pp. 217-313.
  • BHAUMIK, S., and ESTRIN S. (2005). How Transition Paths Differ: Enterprise Performace in Russia and China, IZA DP, No. 1484.
  • BRANDT, L., Litwack J., Mileve E., Wang L., Zhang Y., and Zhao L. (2020). China’s Productivity Slowdown and Future Growth Potential, Policy Research Working Paper, No. 9298.
  • BRODSGAARD, K. E., and Rutten K. (2017). From Accelerated Accumulation to Socialist Market Economy in China: Economic Discourse and Development from 1953 to the Present. Leiden: Brill. https://www.jstor.org/stable/10.1163/j.ctt1w8h2tj.11 (accessed September 20, 2021).
  • CAO, Y., QIAN Y., and WEINGAST B.R. (1999). From Federalism, Chinese Style to Privatization, Chinese Style, Economics of Transition, Vol 7, No 1, pp. 103-131.
  • ÇESTEPE H. (2012). Çin’in Dış Ticaretinin Gelişimi, Dünya Ticaret Örgütü’ne Üyelik Öncesi ve Sonrasında Dünya Ticaretine Etkileri, Bülent Ecevit Üniversitesi, Uluslar Arası Yönetim İktisat ve İşletme Dergisi Vol 8, No 17, pp. 46-62.
  • DEWATRIPONT, M., and ROLAND G. (1992). Economic Reform and Dynamic Political Constraints, Review of Economic Studies, No 59, pp. 703-730. FAN, S. (1990). Effects of Technological Change and Institutional Reform on Production Growth in Chinese Agriculture, American Journal of Agricultural Economics, Vol 73, No 2, pp. 266-275.
  • FANG, X. (1992). Economic Transition: Government Commitment and Gradualism, Stanford University Working Paper, No. 12.
  • FISCHER, S., and GELB A. (1991). The Process of Socialist Economic Transformation, Journal of Economic Perspective, Vol 5, No 4, pp. 91-106.
  • GARNAUT, R. (2001). The Economic Growth of the Chinese Economy: A Historical Perspective, In Growth Without Miracles, Readings on the Chinese Economy in the Era of Reform, (eds.) Ross Garnaut and Yiping Huang, New York: Oxford University Press.
  • HILL, R. T. (2019). Chinese Economic Development and its Global Implications, Honors Undergraduate Theses, No. 608, https://stars.library.ucf.edu/honorstheses/608 (accessed September 20, 2021).
  • HUANG, R. (2015). China: A Macro History, Turn of the Century Edition, London and New York: Routledge.
  • KNIGHT, J. (2016). The Societal Cost of China’s Rapid Economic Growth, Asian Economic Growth 15 (2): 138-159.
  • KRUEGER, O. A. (1993). Political Economy of Policy Reform in Developing Countries, Cambridge MA: MIT Press.
  • KUMBA, D. (2010). The Transition of China and Ussr: A Political Economy Perspective, MPRA Paper, No. 22561.
  • LARDY, N.R. (1992). Foreign Trade and Economic Reform in China 1978-1990, Cambridge and New York: Cambridge University Press.
  • LIPTON, D., and SACHS J. D. (1990). Creating a Market Economy in Eastern Europe: The Case of Poland, Brookings Papers on Economic Activity, No 1, pp. 75-133.
  • LOVELY, M.E., and HUANG Z. (2018). Foreign Direct Investment in China’s High-technology Manufacturing Industries, China & World Economy, Vol 26, No 5, pp. 104-126.
  • MARANGOS, J. (2003). Was Shock Therapy Really a Shock?, Journal of Economic Issues, Vol 37, No 4, pp. 943-946.
  • MARTINELLI, C., and TOMMASI M. 1995. Economic Reforms and Political Constraints: on the Time Inconsistency of Gradual Sequencing, UCLA Economics Working Papers, No.736.
  • MONTINOLA, G., QIAN Y., and WEINGAST B.R. (1996). Federalism, Chinese Style: The Political Basis for Economic Success, World Politics, Vol 48, No 1, pp. 50-81.
  • NAUGHTON, B. (1995). Growing Out of the Plan: Chinese Economic Reform, New York: Cambridge University Press.
  • NIELSEN, C. (1993). Multi-Stage versus Single-Stage Reform: Normative Strategies for Reducing Status-Quo Bias in Trade Reform, Aarhus University Working Paper, No. 61.
  • OVERHOLT, W.H. (2019). Hong Kong: The Rise and Fall of One Country Two Systems, Harvard Kennedy School Ash Center.
  • PINGYAO, L. (2006). China’s Macroeconomic Development: Stages and Nonlinear Convergence, China & World Economy, Vol 14, No 1, pp. 15-29.
  • POMFRET, R. (2000). Agrarian Reform in Uzbekistan: Why Have the Chinese Model Failed to Deliver?, Journal of Economic Development and Cultural Change, Vol 48, No 2, pp. 269-284.
  • QI, H., and DAVID M.K. (2019). The Impact of State-Owned Enterprises on China’s Economic Growth, Review of Radical Political Economics, Vol 52, No 1, pp. 96-114.
  • RODRIK, D. (1989). The credibility of Trade Reform: A Policy Maker’s Guide, The World Economy, No 12, pp. 1-16.
  • ROLAND, G., and Verdier T. (1994). Privatization in Eastern EU: Irreversibility and Critical Mass Effects, Journal of Political Economics 54 (2): 161-183.
  • SARAY, M.O, and GÖKDEMİR L. (2007). Çin Ekonomisinin Büyüme Aşamaları (1978-2005), Journal of Yaşar University, Vol 2, No 7, pp. 661-686.
  • SEZEN S. (2009). Çin’in İkinci Uzun Yürüyüşü, Türkiye ve Orta Doğu Amme İdaresi Enstitüsü Amme İdaresi, Desen Ofset A.Ş.
  • SONG, Y., Wang Y., and Xiang Z. (2019). The Slowdown of the Chinese Economy and Business Management, Vol 9, pp. 1653-1665.
  • TABAK H. (2008). Mao Devletinden Devlet Maosu’na: Çin Dış Politikasında Tarih ve Değişim, Türk Bilimsel Derlemeler Dergisi, Vol 1, No 2, pp. 63-76.
  • TOKATLIOGLU, I, (2006). Bir Kalkınma Stratejisi olarak Çin Halk Cumhuriyeti Ekonomik Reformları: 1978-1990 Dönemi, TİSK Akademi, Vol 1, No 1, pp. 100-123.
  • VENTURA K. (2005). Doğrudan Yabancı Sermaye Yatırımlarında Çok Uluslu Şirketlerin Çin Pazarına Yönelme Eğilimleri Türkiye Yönünden Bir Değerlendirme”, Celal Bayar Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, Vol 12, No 1, 2005, p. 88.
  • WANG, J. (2009). The Economic Impact of Special Economic Zones: Evidence from Chinese Municipalities, Job Market Paper. https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.357.5239&rep=rep1&type=pdf (accessed September 20, 2021).
  • WEBER, I.M. (2021). How China Escaped Shock Therapy, London and New York: Routledge.
  • WEI, S. J. (1997). Gradualism versus Big Bang: Speed and Sustainability of Reforms, The Canadian Journal of Economics, Vol 30, No 4b, pp. 1234-1247.
  • WHYTE, M.K. (2009). Paradoxes of China’s Economic Boom, Annual Review of Sociology, No 35, pp. 375-392.
  • WIJNBERGEN, V. S. (1992). Intertemporal Speculation, Shortages, and The Political Economy of Price Reform, Economic Journal, No 102, pp. 1395-1406.
  • WILLIAMSON, J. (1991). International Financial Policy. In Essay in Honor of Jacques J. Polak, (eds.) Jacob A. Frenkel and Morris Goldstein. Washington: IMF.
  • WORL BANK (1991). World Development Report 1991: The Challenge of Development, New York: Oxford University Press.
  • WU, N., and XIAOWEI M. (1993). Managing China’s Balance of Payment, Institute of International Finance Bank of China Occasional Paper, No. 2.
  • ZHANG, W., and YI G. (1998). China’s Gradual Reform: A Historical Perspective, Asia-Pacific Financial & Forecasting Research Centre Technical Report, No. 96-102.
  • ZHAO, Y. (2019). Analyzing the Influence of China's Import and Export Trade on Economic Growth Based on Eviews, Advances in Social Science Education and Humanities Research, N
Toplam 45 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Siyaset Bilimi
Bölüm Makaleler
Yazarlar

Tayfun Tuncay Tosun 0000-0003-2489-876X

Yayımlanma Tarihi 15 Şubat 2022
Yayımlandığı Sayı Yıl 2022 Cilt: 5 Sayı: 9

Kaynak Göster

APA Tosun, T. T. (2022). Analysis of Chinese Economic Reforms Implemented After 1978 with Big Bang and Gradual Approaches. Doğu Asya Araştırmaları Dergisi, 5(9), 23-43.

Doğu Asya Araştırmaları Dergisi (DAAD) I 2021 I abdurresit.karluk@hbv.edu.tr I

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