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ToolsFu, W., Le Riche, A., Parent, A. and Renard, M-F., 2026. A dynamic model of Chinese economic gradualism via marketisation. Annals of Economics and Finance, 27 (1), 223-242.
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Abstract
This paper analyzes China’s economic marketization since 1978. We provide a historical account showing its success resulted from gradualism and a trial-and-error process. We then develop a two-sector Ramsey model where an ``experimental sector” with an unknown decentralized production process represents reforms. A central planner learns from this sector’s revealed productivity, explaining China’s smooth transition from a planned to a market-oriented economy through an information-learning process.
| Item Type: | Article |
|---|---|
| ISSN: | 1529-7373 |
| Uncontrolled Keywords: | Bayesian Learning; Policy experimentation; Chinese “take-off”; marketisation |
| Group: | Faculty of Business and Law |
| ID Code: | 41987 |
| Deposited By: | Symplectic RT2 |
| Deposited On: | 06 May 2026 11:52 |
| Last Modified: | 06 May 2026 11:52 |
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