Political institutions, entrenchments, and the sustainability of economic development – a lesson from rural finance
This paper provides insights on the sustainability of economic development from a historical and political economy perspective. We demonstrate that China's rural financial policy in the 1980s was quite liberal in employing market mechanisms, supporting entrepreneurship, and encouraging competition. These policies were abandoned in the early 1990s and replaced by ubiquitous government interferences that shifted resource and policy priorities to benefit political incumbents. A large panel of...[Show more]
|Collections||ANU Research Publications|
|Source:||China Economic Review|
|Access Rights:||Open Access|
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