Beijing Consensus Or Washington Consensus : What Explains China's Economic Success?

Yao, Yang

关键词: arbitrage;    developing countries;    economic development;    economic efficiency;    Fiscal decentralization;   

DOI  :  10.1596/1020-797X_13_1_26

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

China's remarkable economic growth is often attributed to strong government intervention that can mobilize large amounts of resources to clear any bottleneck to growth or institutional change. This approach is often referred to as the Beijing Consensus (BC) as compared to the Washington Consensus (WC): the former being a model of authoritarianism and heavy state involvement in the economy, the latter a model of neoliberal and market-oriented doctrines. But these characterizations are inaccurate.