After giving a brief monetary history of the Chinese macro-economy, this paper presents an error correction model to explain the inflation rate from 1954 to 2002 by its past change, the change in log (M2/real output) and the deviation in the previous period of log price level from a regression...

This paper addresses issues raised in 'The Background of China's Planning Institutional Reform' circulated in advance of the International Conference on China's Planning System Reform, held on 24-25 March 2004 in Beijing. The discussion is structured around four topics: (1) the scope of...

There has been some controversy concerning the rate of growth of total factor productivity after economic reform started in China in 1978. It is the purpose of this note to present evidence to show that an annual rate of increase of about 2.7% is reliable and that the capital elasticity of...