China's Path-Dependent Transition: Culture Mediating between Market and Socialism

MARKET AND SOCIALISM IN THE LIGHT OF THE EXPERIENCES OF CHINA AND VIETNAM, INTERNATIONAL ECONOMIC ASSOCIATION CONFERENCE, Vol. 146, pp. 110-134, Janos Kornai and Qian Yingyi, ed., London: Palgrave

28 Pages Posted: 11 Dec 2006 Last revised: 13 Nov 2011

See all articles by Carsten Herrmann-Pillath

Carsten Herrmann-Pillath

Max Weber Center for Advanced Cultural and Social Studies

Date Written: 2006

Abstract

The concept of path-dependence is applied on the Chinese transition to the market economy, bearing the questions in mind, firstly, whether in China a new model of "market socialism" is emerging, and secondly, whether China is a successful case of gradualism as opposed to "big bang" transition. I introduce three different types of path-dependence and argue that only the most complex case of cognitive path dependence allows to make a case for gradualism. This is condensed into a concept of culture. I apply this framework on two case studies, both related to the evolution of property rights. These are land ownership and local industry in the rural areas.

Keywords: path-dependence, culture, property rights in economic transition, gradualism (all China)

JEL Classification: N00, P20, P32, Q15

Suggested Citation

Herrmann-Pillath, Carsten, China's Path-Dependent Transition: Culture Mediating between Market and Socialism (2006). MARKET AND SOCIALISM IN THE LIGHT OF THE EXPERIENCES OF CHINA AND VIETNAM, INTERNATIONAL ECONOMIC ASSOCIATION CONFERENCE, Vol. 146, pp. 110-134, Janos Kornai and Qian Yingyi, ed., London: Palgrave, Available at SSRN: https://ssrn.com/abstract=950698

Carsten Herrmann-Pillath (Contact Author)

Max Weber Center for Advanced Cultural and Social Studies ( email )

Nordhäuserstr. 74
Erfurt, 90228
Germany

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