| dc.contributor.author | Deng, Liping. | en_US |
| dc.date.accessioned | 2014-10-21T12:35:30Z | |
| dc.date.available | 1994 | |
| dc.date.issued | 1994 | en_US |
| dc.identifier.other | AAINN05159 | en_US |
| dc.identifier.uri | http://hdl.handle.net/10222/55016 | |
| dc.description | History has recently witnessed the rapid spread of market-oriented economic reforms in the socialist countries, including China. One serious challenge these countries met during reform has been sustained excess demand and accelerated inflation. Why does inflation go hand in hand with this reform? What are the causes of excess demand and inflation? | en_US |
| dc.description | By adopting an extended shortage approach, that is, a "budget-softness-and-competing-interest" framework, this study addresses this issue by examining the Chinese experience from 1973 to 1988, with emphasis on the reform in the state sector. This study argues that the causes of excess demand lay primarily in a conflict over the distribution of resources among major agents in the state sector, namely state-owned enterprises, state-owned banks, the localities and the centre. During the interplay of these competing interests, continued soft budget constraints at the levels of enterprises, banks and the localities acted as a key mechanism to support these agents' claim over resources, thus causing strong inflationary pressures. When the centre was forced to use macro policies to accommodate these claims, inflation occurred. Inflation may not be a transitionary phenomenon, but likely an inherent by-product of this reform within the framework of socialism. | en_US |
| dc.description | The study consists of four parts. Part I (chapters 1 and 2) gives an overview of the reform and inflationary process. Part II (chapters 3 to 6) reviews three major approaches to understanding inflation (the monetarist, the disequilibrium, and the shortage approaches) and suggests that an extended shortage approach can be adopted as an analytical framework. Part III (chapters 7 to 9) applies this framework to China by examining the macro inflationary impacts of the reforms in the state-enterprise, the state-bank and the centre-locality relationships. Part IV (chapter 10) presents the conclusions and policy implications. | en_US |
| dc.description | Thesis (Ph.D.)--Dalhousie University (Canada), 1994. | en_US |
| dc.language | eng | en_US |
| dc.publisher | Dalhousie University | en_US |
| dc.publisher | | en_US |
| dc.subject | Economics, Theory. | en_US |
| dc.title | Inflationary process in reformed socialism: The case of China. | en_US |
| dc.type | text | en_US |
| dc.contributor.degree | Ph.D. | en_US |
