Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212584 
Year of Publication: 
2006
Series/Report no.: 
BOFIT Discussion Papers No. 12/2006
Publisher: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Abstract: 
There have been profound changes in both political and economic institutions in China over the last twenty years.Moreover, the pace of transition has led to variation across the country in the level of development.In this paper, we use panel data for the Chinese provinces to study the role of legal institutions, financial deepening and political pluralism on growth rates.The most important institutional developments for a transition economy are the emergence and legalization of the market economy, the establishment of secure property rights, the growth of a private sector, the development of financial sector institutions and markets, and the liberalization of political institutions.We develop measures of these phenomena, which are used as explanatory variables in regression models to explain provincial GDP growth rates.Our evidence suggests that the development of financial markets, legal environment, awareness of property rights and political pluralism are associated with stronger growth.
JEL: 
O16
P14
P16
O53
Persistent Identifier of the first edition: 
ISBN: 
952-462-832-5
Document Type: 
Working Paper

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