INSTITUTIONAL CHANGE AND CHINA CAPITALISM

This edited volume is based on original essays first presented at seminars in complexity economics, Sichuan University, China, in November 2018 and May 2019, and at the 12th International Conference on the Chinese Economy, University of Clermont-Ferrand, France, in October 2019. It also includes three contributions written especially for this volume. This research benefited from three French grants 'Hubert Curien Research Fellowship' (Program Campus France 2019, 2020, 2021). All chapters assess the recent take-off of the Chinese economy from a historical perspective, enlarging the economic evidence that China's capitalism is a matter of institutional revolution.Institutional Change and China Capitalism aims to provide a radically new view of the rise of Chinese capitalism by drawing on recent developments in cliometrics and complexity economics, macroeconomic dynamics, network analysis and behavioral finance to illustrate the various facets of China's transition to capitalism. The chapters within innovate the study of China's take-off using the frontier of research in institutional cliometrics and complexity economics. Thus, the book is structured in three sections that seek to address — empirically, theoretically, and in terms of network structure, the profound institutional change that led China to progressively adopt capitalism.Together these papers attest to the vitality of current research in cliometrics and complexity economics.Contents:

• Preface
• About the Editors
• List of Contributors
• List of Figures
• List of Tables
• Introduction
• Market Integration as an Institution, Convergence, and Frontier in China:
  • Have Unequal Treaties Fostered Domestic Market Integration? (Jean-Louis Combes, Mary-Françoise Renard, and Shuo Shi)
  • The Decline of China's Intraregional Market Integration in the Qing Dynasty (Chuantao Cui, Xiao Yang, and Hui Xiong)
  • China's Regional Convergence and Policy: A View from Regional Science (Chunlin Wan and Fengming Li)
  • China's Trade and Opening since 1978: A Regional Perspective from the Northeast (Kiril Tochkov)
• The Theoretical and Institutional Approach to China's Transition to Capitalism:
  • The 'Take-off' of Chinese Economy: An Evolutionary Model of Reform and Open-up (Zhiming Fu, Antoine Le Riche, Antoine Parent, and Lei Zhang)
  • New Evidence on the Impact of Institutions on Economic Development in China (Linda Glawe and Helmut Wagner)
  • Rise of Capitalism and Chinese Women's Internal and Cross-Border Migrations 1980–2020: A Gender Study (Beatrica Zani)
• China's Financial Institutions and Financial Integration:
  • Chinese Presence in Africa: A Panel Smooth Threshold Regression Approach (Ibrahim Nana)
  • Did Financial Reforms Improve Shanghai and Shenzhen Stock Markets Performancen? (Marie-Eliette Dury and Bing Xiao)
  • China within World Networks of Equity Markets: Not So Atypical? (Cécile Bastidon and Antoine Parent)
• Index

Readership: Intended for graduates, postgraduates and researchers — as well as professionals who work with or in China — who wish to understand the deep institutional mechanisms of China's capitalism from the perspective of macroeconomics, international trade and market finance.China;Macroeconomics;Cliometrics;Institutional Economics;Complexity;Economics;International Trade;Applied Econometrics;Econometrics;Empirical Finance;Behavioral Finance;Economic History;Sociology;Gender StudiesThe articles collected in this book by different authors from China and the West provide a coherent analysis of China's spectacular rise from poverty to prosperity in recent decades with the perspective of new institutional complexity. This is an important reference book for anyone interested in the most intriguing transformation in our times.' - Justin Yifu LinProfessor and Dean, Institute of New Structural Economics, Peking UniversityFormer Chief Economist, the World Bank

'Understanding the Chinese economic miracle is one of the most important tasks confronting economists, economic historians, and economic policy makers around the world. Using the latest economic models and econometric techniques, the authors of the 10 studies in this volume explore the crucial changes in Chinese institutional arrangements and government policies, and in the evolution of markets, that have driven economic growth in China. Le Riche, Parent, and Zhang have assembled an innovative and invaluable set of essays.' - Hugh RockoffDistinguished Professor, Rutgers UniversityResearch Associate, National Bureau of Economic ResearchFormer President of the Economic History Association

'Brilliant scholars Antoine Le Riche, Antoine Parent and Lei Zhang have produced a remarkable book in Institutional Change and China Capitalism. This book is a creative and deep exploration of Chinese economic development in both the Imperial and Communist eras. By using a rich combination of tools from cliometrics and complexity theory, the authors not only provide a plethora of insights into China but demonstrate how these methods can enrich social science. Truly exciting research!' - Steven N DurlaufSteans Professor, Harris School of Public Policy, University of ChicagoEditor, Journal of Economic Literature

Key Features:

• The book is of interest in that it tackles numerous aspects and issues relating to the Chinese take-off: regional disparities, international trade, economic integration, institutions