{"product_id":"inflation-and-investment-controls-in-china-the-political-economy-of-central-local-relations-during-the-reform-era-hardback-9780521554831","title":"Inflation and Investment Controls in China; The Political Economy of Central-Local Relations during the Reform Era (Hardback) 9780521554831","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eInflation and Investment Controls in China\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eThe Political Economy of Central-Local Relations during the Reform Era\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eA political-economic analysis of how China has been able to avoid hyperinflation while maintaining high annual growth rates.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eYasheng Huang (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780521554831, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 28 June 1996\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e394 pages, 12 b\/w illus.  41 tables\u003cbr\u003e22.9 x 15.2 x 2.5 cm, 0.75 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e'The origins of inflation, Huang emphasizes, arise from the incentives for over-investment that arise at the local level and the difficulties faced by the center in monitoring and sanctioning profligate local behaviour. It is a book that will command a readership among both Chinese specialists and those interested in political economy.' Robert H. Bates, Harvard University\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eHow has the Chinese central government been able to avoid the crippling hyperinflation that has bedeviled so many developing and centrally planned economies? China's unique, de facto federalism, Huang argues - a combination of economic and fiscal decentralization and strong political centralization - has spurred economic growth and allowed political institutions to impose restraints on inflation from the top down. Focusing on central-local relations and the controlling role of political institutions, Yasheng Huang explains why local Chinese officials comply, even against their own economic interests, with the investment-reduction and inflation-control policies of the central government. Drawing upon institutional economics, he hypothesizes that the central government's powerful role in appointing and firing bureaucrats at the local level helps to reconcile some of the central-local economic policy differences. Huang uses systematic data analysis to test this proposition. This book also offers detailed descriptions of the roles of local governments in economic and investment management.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eFigures and tables\u003cbr\u003e Acknowledgements\u003cbr\u003e Abbreviations\u003cbr\u003e Preface\u003cbr\u003e 1. Introduction\u003cbr\u003e Part I. The Economic and Political Roles of Local Government Officials: 2. Local government officials as economic agents\u003cbr\u003e 3. Local bureaucrats as investors: the investment roles of local governments\u003cbr\u003e 4. The local officials in the bureaucratic hierarchy\u003cbr\u003e Part II. Macroeconomic Policy Developments During the Reform Era: 5. Excess investment demand and austerity policies\u003cbr\u003e Part III. Analyzing Local Investment Behavior: 7. Strategic investment behavior during austerity\u003cbr\u003e 8. Bureaucratic investment behavior\u003cbr\u003e 9. Conclusion: Political institutions, inflation control, and economic reforms\u003cbr\u003e References\u003cbr\u003e Indexes.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Political economy [\u003ca title=\"See our other books on Political economy\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Political%20economy%20%5BKCP%5D%22\"\u003eKCP\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46065979621656,"sku":"9780521554831","price":63.39,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9780521554831i.jpg?v=1691408530","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/inflation-and-investment-controls-in-china-the-political-economy-of-central-local-relations-during-the-reform-era-hardback-9780521554831","provider":"Freshly Printed Books","version":"1.0","type":"link"}