Even before the onset of the 2008 global financial crisis and ongoing European debt crisis, much attention has been given to the re-emergence of the Asian giants, the People's Republic of China (PRC) and India. Both countries have attained unprecedented growth and economic development-PRC and...

The main features of China’s current sub-national finance arrangements date back to the 1994 tax reform. China has a multi-level government structure that shares national tax revenues through a system of tax sharing and transfers, and divides spending assignments and responsibilities. Local...

The main features of China’s current sub-national finance arrangements date back to the 1994 tax reform. China has a multi-level government structure that shares national tax revenues through a system of tax sharing and transfers, and divides spending assignments and responsibilities. Local...

In China and India broad economic reforms since the 1980s progressively opened to private initiative and international trade and were key contributors to their formidable growth patterns. Today, the positive effects of past liberalizations are fading and the two countries have reached a level of...

This paper seeks to lay out the strategy of China's developmental approach to transition--how the strategy was developed and why it has worked so well for China. It then goes on to answer the arguments of Sachs and Woo (1994, 1995, 1996) that China's approach to transition has no relevance to...

The paper lays out the strategy behind China's gradual approach to transition--how the it was developed and why it has worked so well for China. It goes on to answer the arguments of Sachs and Woo that the Chinese approach has no applicability to the nations of Eastern Europe and the former...