It can be proved theoretically that, because of the previously existing price and structural distortion, a welfare paradox is possible in the former command economies during the transition period. This paradox refers to a situation in which a welfare gain is accompanied by a fall in the reported...

"This paper investigates the issue of monetary overhang in centrally planned economies (CPEs). The analysis compares the money stocks in CPEs with those in market economy counterparts. Contrary to conventional belief, the findings here suggest that the money stocks in traditional CPEs do not...

"The policy of subsidizing agriculture with profits made by township and village enterprises has played an important role in maintaining stability and accelerating balanced economic growth in the Chinese rural areas. It represents an interesting subject in the literature of development economics...