摘要
This Paper is an emprical analysis of the trend and the determinants of China’a growth of aggreggate output after the reform of 1978. On one hand, the institutional irmovation by the reform and opennning policy strengthened the supply cwility. on the other hand, due to the incomplete institutiond transition, shortage caused by excessive deman and inflaion had been dominant in economy for yeare. However, the shortage economy got to for in 1997, when the domestic edet was turning for sellers’ domiare to buyers’ dednance and the demand of the world maret was diving dewnard. Since insufficient effective dcman has instead become the rnain barricade for Chirra’s growth, policies should pay much mor heed to increasing deman and optimizing supply than increasing supply and controlling inflation.
This Paper is an emprical analysis of the trend and the determinants of China'a growth of aggreggate output after the reform of 1978. On one hand, the institutional irmovation by the reform and opennning policy strengthened the supply cwility. on the other hand, due to the incomplete institutiond transition, shortage caused by excessive deman and inflaion had been dominant in economy for yeare. However, the shortage economy got to for in 1997, when the domestic edet was turning for sellers' domiare to buyers' dednance and the demand of the world maret was diving dewnard. Since insufficient effective dcman has instead become the rnain barricade for Chirra's growth, policies should pay much mor heed to increasing deman and optimizing supply than increasing supply and controlling inflation.
出处
《金融研究》
CSSCI
北大核心
1999年第4期24-31,共8页
Journal of Financial Research
