Main description: Over 630 million Chinese escaped poverty since the 1980s, the largest decrease in poverty in history. Studying 700 manufacturing firms in the Yangzi region, the authors argue that the engine of China’s economic miracle—private enterprise—did not originate at the top but...

Where do economic institutions come from? -- Markets and endogenous institutional change -- The epicenter of bottom-up capitalism -- Entrepreneurs and institutional innovation -- Legitimacy and organizational change -- Industrial clusters and competitive advantage -- The development of labor...