Bai, Chong-En; Li, David Daokui; Qian, Yingyi; Wang, Yijiang - C.E.P.R. Discussion Papers - 1999
China's economic performance of the past two decades presents a puzzle for the economics of transition and development: Enormous private business incentives were unleashed that have fueled rapid economic growth despite the fact that China has had very weak "conventional institutions" (such as...