1. Chinese Economy (Late 1970's to Present)
... Third, the gradualist alternative gives time to reform opponents to organize themselves and thus invites a more formidable resistance (Krueger, 1993) In addition, in the context of price reforms, a gradual reform is undesirable, because it may induce an intertemporal speculation (van Wijnbergen, 1992). Finally, a big-bang approach brings the benefits more quickly (World Bank, 1991). On the other hand, there are various ... Confucius: 'More haste, less result'. First, a gradualist approach may avoid excessive cost, especially for the government budget (Dewatripont and Roland 1992; Nielsen...
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- Approx Pages: 9
- Grade Level: Undergraduate