How China Grows

"Using rich and much updated graphs and tables, the authors convincingly argue that China's spectacular growth has been driven mainly by its ability to channel domestic and foreign savings into restructuring its economy since the late 1970s."--G.J. Wen, Choice "Some parts of this work, especially the equation-heavy chapter on savings processes and investment rates, are best appreciated by those with solid economics backgrounds, but even non-experts interested in China's growth will appreciate the arguments made here."--Marc Lanteigne, International Affairs "Overall, this is a very valuable book which systematically examines and analyzes the relationship between investment and growth in China over the past three decades. Using rich and up-to-date data and materials, it argues convincingly that China's spectacular growth has been driven mainly by its ability to channel domestic and foreign savings into restructuring its economy since 1978... This book not only contributes to the existing academic literature in development finance but also provides valuable policy suggestions on China's financial sector reform and liberalization. Although it includes some technical economic analysis, it is written in a way that is easy to read and to understand. It is accessible to a broad range of readers, including academics, policy-makers, business people, students and non-economists. The book will benefit anyone who is interested in development finance in general and in China's economic growth and financial market development in particular."--Chunlai Chen, The China Journal "The book is accessible and informative to a broad readership: from a lay reader to those who work in the field of finance and development, China specialists and policy makers."--Yu Chen, Progress in Development Studies "The book does not break new ground, but its conceptual approach, its empirical analysis and its detailed up-to-date account of the ongoing reform programs and their policy background in China make it highly recommended for those working on or studying the Chinese economy. The book is especially useful for those interested in financial sector reform in China. As claimed by the authors, policy-makers in China will also find this book useful."--Ligang Song, Economic Record "It is an excellent overview of the development of the financial system to date... What is new and surprising is how succinctly and effectively the authors have brought together the technical literature with laymen's language to make this argument. It is one of the best treatises I have seen on financial reform."--Doug Guthrie, China Quarterly "This book will be well received by researchers and policy makers. The focus of the book--how the Chinese economy has grown so far, and whether or not this growth will be sustainable--is an attractive topic given the great importance of the Chinese economy in the world, but also because the authors of the book provide an unconventional method of analysis."--Asian Affairs "Although it includes some technical economic analysis, How China Grows is accessible to noneconomists and will benefit anyone who is interested in development finance in general and in China's economic growth in particular whether economists, political scientists, bankers, or business people."--World Book Industry