Barry Naughton writes, "Economic reform is difficult and costly, and it produces productivity and growth benefits with a lag." Explain how this statement describes the economic reforms of Zhu Rongji years (1993-2002) and China's subsequent growth acceleration after 2001.
Barry Naughton defines "institutional transformation" as changes in organizations, information, and incentives that guide economic decisions. Pick one of the following sets of institutions and describe how it evolved over time, and how economic incentives for households and producers were changed in the process.
Choose ONE of the following areas: (1) rural land rights; (2) the financial system; (3) governance of state-controlled enterprises
303,122 students got unstuck by Course
Hero in the last week
Our Expert Tutors provide step by step solutions to help you excel in your courses