Chinese Economy under Transition

PHILIP ANDREWS-SPEED Assistant Director, Centre for Energy, Petroleum and Mineral Law and Policy, University of Dundee FIONA CARMICHAEL Lecturer in Economics, University of Salford JOHN DAVIS Research Fellow, Institute of Development Studies, University of Sussex MEIBING FU Lecturer in Economics, Renmin University, China SHUMEI GAO Lecturer in Economics, Heriot-Watt University CHAO-DONG HUANG Research Officer, National Institute of Economic and Social Research, London ATHAR HUSSAIN Senior Research Fellow, London School of Economics AYING LIU Lecturer, Business School, University of Middlesex XIAMING LIU Lecturer, Aston Business School, Aston University MINQUAN LIU Lecturer in Economics, University of Leicester PETER NOLAN Sinyi Professor of Chinese Management, Fellow of Jesus College, University of Cambridge DUO QIN Lecturer in Economics, Queen Mary and Westfield College, University of London PETER ROMILLY Lecturer, School of Social and Health Sciences, University of Abertay, Dundee MARK E. SCHAFFER Professor of Economics, Heriot-Watt University HAIYAN SONG Lecturer in Economics, University of Surrey HUI TAN Lecturer in Economics, Renmin University, China LIMING WANG Research Fellow, Centre for Rural Studies, Queen's University, Belfast XIAOQIANG WANG Research Fellow, China Business Centre, Hong Kong Polytechnic University QIREN ZHOU Research Fellow, China Centre for Economic Reform, Beijing University

• Notes on the Contributors Introduction PART I: INDUSTRIAL RESTRUCTURING AND ENTERPRISE REFORM Reorganising Amidst Turbulence: China's Large-scale Industry in the Changing International Distribution of Power and Globalization of Capitalist Big Business; P.Nolan & W.Xiaoqiang Capital Firms, Public Enterprises: Ownership Reform and Privatization of Chinese State Owned Enterprises; M.Liu Financial Discipline in the Enterprise Sector in Transition Countries: How Does China Compare?; S.Gao & M.E.Schaffer Impact of Reforms on Wages and Employment Determination in Chinese State Owned Enterprises, 1986-91; A.Hussain & J.Zhuang Reform of China's Energy Sector: Slow Progress to an Uncertain Goal; P.Andrews-Speed PART II: THE RURAL SECTOR - AGRICULTURE AND INDUSTRY Agriculture's Role in Economic Development: The Case of China; S.Yao Property Rights and New Commercial Organisations: A Comparison of Agricultural Reform in China and Russia; Q.Zhou Employment, Enterprise and Inequality in Rural China; S.Cook China's Grain Economy and Trade Policy; F.Lu The Economic Behaviour of China's Grain Producers in Transition; J.Davis & L.Wang Labour Productivity in Rural Industry Exports: A Cross Sectional Analysis; F.Carmichael, H.Tan & M.Fu PART III: MODELLING TRANSITION AND STRUCTURAL CHANGE On Macro Modelling of Transitional Economies with Special Reference to the Case of China; D.Qin Structural Changes in Employment and Investment in China: 1985-94; A.Liu Economic Reforms and the Stability of Long Run Demand for Money in China: Some Results from Co-integration Tests; C.Huang Is There Any Stable Long-run Equilibrium Relationship Between Aggregate Consumption and Income in China?; H.Song, X.Liu & P.Romilly Index