High-growth spells compared; Table 4. Contents: Table of contents; Basic statistics of China; Executive summary; Main findings; Macroeconomic developments and prospects; Selected reform areas; Key policy recommendations; Macrostructural policies; Financial sector reform; Competition and innovation; Inclusive urbanisation; Intergovernmental fiscal relations; Greening growth; Assessment and recommendations; China continues to advance; Table 1. Main macrostructural policy recommendations; China's high growth can be sustained over the medium term; China's achievements have been underpinned by vigorous growth outside agriculture; Figure 11. In agriculture, employment has declined and productivity has risen; Further capital accumulation, as well as more education and innovation, will also support growth; Figure 14. Drawing on the deep knowledge of 31 leading experts, this book presents an empirical, comparative institutional analysis of 13 major Asian business systems between India and Japan. China's market share is no longer expanding as rapidly; Figure 8.
Complementing the country chapters are eleven contributions examining major themes across the region in comparative perspective and linking the empirical picture to existing theory on these themes. The challenge for policymakers is to ensure a smooth transition of demand, while maintaining supports that promote growth and employment. Migrants' wages have increased briskly in recent years; Figure 10. China's current reform and modernization policies to convert its centrally planned economy towards a market-driven one could hardly draw on experiences of other countries. For each policy area, a series of recommendations is made.
A further three chapters provide perspectives on the influence of history and institutional change. Evidence of de facto capital account convertibility; Figure 20. Main recommendations on financial sector reform; Strengthening innovation and competition is essential for sustaining growth; Liberalisation has enhanced competition; Figure 21. At the same time, the report points out where additional reform is needed. It begins with a brief history of the modern China's foreign exchange rate policy.
Fall in agricultural employment in East Asian countries and regions; Figure 15. In particular, it highlights the three Chinese policy characteristics; namely, independence, controllability and practicability, and graduality. At the same time, the world has increasingly scrutinized China's economic policies and activities. Spending on research and development; Further financial sector reforms are underway. The Handbook is a major reference work for scholars researching the causes of success and failure in international business in Asia. This book provides a succinct and up-to-date account of China's exchange rate policy including the currency undervaluation debate and the internationalization of its currency.
Growth pathways in selected East Asian economies. The economy slowed down but a recovery is under wayFigure 9. Off-budget borrowing by entity and the stock of off-budget debt; Figure 4. Human capital is catching up; Figure 17. The special chapters cover boosting firm performance and entrepreneurship; enhancing inclusiveness.
One of the hotly contested issues is China's foreign exchange rate policy. Infrastructure and other investment; Figure 5. These reports provide analysis of developments in the subject country, special reports on topics of current interest, and extensive statistical information. Most indicators of inequality have declined somewhat in recent years; Figure 7. The special chapters cover boosting firm performance and entrepreneurship; enhancing inclusiveness.
Special chapters cover inclusive urbanisation and reforms for a healthier environment. Main recommendations to strengthen competition and innovation; Further reforms for inclusive urbanisation; Figure 22. The major themes of the report include improving the framework for the private sector, labour market reforms, ageing, and reform of the public sector and the financial system. Official foreign exchange reserves; Box 4. Growth accounting; The economy will gradually slow but high growth can be maintained for some time; Figure 12. There is also a need to contain and reduce public debt and repair and reform the financial sector.
Social spending by the national government has grown sharply; The export sector has been under strain but rebalancing has made headway; Box 2. China's growing importance to other economies; Box 3. The edition provides a comprehensive analysis of recent developments, policies, and prospects in China. To aid comparison, each country chapter follows the same consistent outline. . Special chapters cover inclusive urbanisation and reforms for a healthier environment.
Macroeconomic developments and prospects; Figure 1. Inequality is high but declining; Figure 6. Investment is high but the capital stock per employee is still low in China; Figure 16. The E-mail message field is required. As a result, the field has yet to produce a detailed empirical picture of the institutional structures of most Asian nations and to explore to what extent existing theory applies to the Asian context. Continued migration of labour from agriculture will support productivity growthFigure 13. The Oxford Handbook of Asian Business Systems aims to address this imbalance by exploring the shape and consequences of institutional variations across the political economies of different societies within Asia.