Beginning in the late 1970s, China's economy delivered the largest growth spurt in recorded history. Striking … "China miracle" that requires neither economic nor historical analysis. This overlooks deep institutional constraints arising … decentralized innovation. Historic legacies that shape political structures and individual behavior will continue to influence China …

The reform of China's enterprise system increasingly reflects the outcome of China's emerging property rights market … efficient ownership arrangements. We review the extent to which China's reforms have established the conditions for an effective … diversity of China's industrial economy will motivate a continuation of decentralized reform initiatives. To support this …