Chinas Gilded Age
Chinas Gilded Age Why has China grown so fast for so long despite vast corruption? Ang unbundles corruption into four varieties: petty theft, grand theft, speed money, and access money. In China's…
Specifikacia Chinas Gilded Age
Chinas Gilded Age
Why has China grown so fast for so long despite vast corruption? Ang unbundles corruption into four varieties: petty theft, grand theft, speed money, and access money. In China's Gilded Age, Yuen Yuen Ang argues that not all types of corruption hurt growth, nor do they cause the same kind of harm.
Since market opening, corruption in China has evolved toward access money. While the first three types impede growth, access money--elite exchanges of power and profit--cuts both ways: it stimulates investment and growth but produces serious risks for the economy and political system. Using a range of data sources, the author explains the evolution of Chinese corruption, how it differs from the West and other developing countries, and how Xi's anticorruption campaign could affect growth and governance.
In this formidable yet accessible book, Ang challenges one-dimensional measures of
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