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In economics, the emergence of New Growth Theory in recent decades has directed attention to an old and important problem: what are the forces of economic growth and how can public policy enhance them? This book examines major forces of growth--including spillover effects and externalities, education and formation of human capital, knowledge creation through deliberate research efforts, and public infrastructure investment. Unique in emphasizing the importance of different forces for particular stages of development, it offers wide-ranging policy implications in the process.

The...

The Chinese economy has been regarded as one of the most dazzling phenomena in the current world economy. A systematic, objective and academic analysis on the contemporary Chinese economy, however, is still lacking. This book, written by an excellent native Chinese scholar, fills this void in many respects lucidly.

The book gives a systematic analysis on the modern Chinese economy since China's economic reform and its opening-up in 1978. It also includes analytical comparisons on differences between China and the West and illustrates how these differences in terms of economic structure,...