The European Journal of Comparative Economics

ISSN: 1824-2979

EJCE Year: 2006, June. Volume: 3 - Issue: 1

Institutional Change and Economic Transition: Market-Enhancing Governance, Chinese-Style

by Joachim Ahrens ; Philipp Mengeringhaus

Start page: 75 - End page: 102

Keywords: market-enhancing governance; transition; institution building; policy reform; China

Jel code: H83; P26; P35; H70

DOI:

Abstract:

This study introduces a coherent comparative concept of governance, applies it to China, and elaborates to what extent the Chinese institutional matrix exhibits characteristics of a market-enhancing governance structure (MEGS). It is argued that a subtle interplay of political and economic institutions created a stable and viable politico-institutional foundation which made China's unorthodox transition strategy politically feasible and economically effective. The paper concludes with an assessment of the quality of the overall Chinese governance structure and its expected implications for the future transition process.

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