<< 1 >>
Rating: 
Summary: Why China has outpaced the developing world
Review: Dr. Oi has written several journal articles detailing the crucial role of the local state in post-Mao China's economic development. Here is a long version based on her extensive field research. China's explosive growth of rural industry is a refutation of conventional wisdom on property rights. Because these factories are collectively owned, they should have all kinds of incentive problems according to the theory. Yet, they were the engine of China's impressive growth in the 1980s and 1990s. Dr. Oi explains how they accomplished this. However, all is not perfect as China enters the 21st century, because according to a new collection of papers that Dr. Oi co-edits "Property Rights and Economic Reform", some of these township and village owned industries have run into problems. Despite the uncertain future, people in development agencies should take notice of this book, because the history of collective rural industry in China has promising lessons for countries that desire rapid growth, local control over the development process, and social justice.
Rating:
Summary: Why China has outpaced the developing world
Review: Dr. Oi has written several journal articles detailing the crucial role of the local state in post-Mao China's economic development. Here is a long version based on her extensive field research. China's explosive growth of rural industry is a refutation of conventional wisdom on property rights. Because these factories are collectively owned, they should have all kinds of incentive problems according to the theory. Yet, they were the engine of China's impressive growth in the 1980s and 1990s. Dr. Oi explains how they accomplished this. However, all is not perfect as China enters the 21st century, because according to a new collection of papers that Dr. Oi co-edits "Property Rights and Economic Reform", some of these township and village owned industries have run into problems. Despite the uncertain future, people in development agencies should take notice of this book, because the history of collective rural industry in China has promising lessons for countries that desire rapid growth, local control over the development process, and social justice.
<< 1 >>
| 
