This book describes and explains the remarkably large rural-urban divide in economic well-being that exists in China. How did it come about? How is it maintained, in the face of equilibrating market forces? What are the implications for future efficiency and equity in the Chinese economy? The...

China's remarkable economic transition and capacity for dynamic growth has stunned the world. Throughout the period of economic reform, China has been moving towards the creation of a labour market. The scale of this transformation is unprecedented. New economic incentives, vast labour...

How has the Chinese economy managed to grow at such a remarkable rate - no less than ten per cent per annum - for over three decades? This well-integrated book combines economic theory, empirical estimation, and institutional analysis to address one of the most important questions facing...