Reexamining China’s Economic Growth: Law, Finance, and Political Economy. Franklin Allen University of Pennsylvania Jun Qian Boston College Advanced Summer Training Program in Finance Chengdu, China July 8, 2007. Introduction.
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University of Pennsylvania
Advanced Summer Training Program in Finance
July 8, 2007
Only three large economies have been as successful:
China can do better but no large country has done so by a significant amount and in such a short period of time
(La Porta, Lopez-de-Silanes, Shleifer, and Vishny (LLSV; 97, 98, 99, 00))
Political economy factors
(Allen, Qian and Qian 05)
(Allen, Chakrabarti, De, Qian, and Qian 07)
What should China do going forward?
“The modern corporation on a Western model would be the essential vehicle for private economic development”
Dispute resolution (see Kirby 95):
We need to better understand modern equivalents
Check Clearing for the 21st Century Act
Google and the scanning of libraries