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Monday, October 5, 2020 | History

4 edition of Price controls and the economics of institutions in China found in the catalog.

Price controls and the economics of institutions in China

by Jean-Jacques Laffont

  • 58 Want to read
  • 17 Currently reading

Published by Development Centre of the Organisation for Economic Co-operation and Development in Paris .
Written in English

    Places:
  • China,
  • China.
    • Subjects:
    • Price regulation -- China.,
    • Pricing -- China.,
    • Money -- China.,
    • China -- Economic policy -- 1976-2000.,
    • China -- Economic conditions -- 1976-2000.

    • Edition Notes

      Includes bibliographical references (p. 107-108).

      Statementby Jean-Jacques Laffont with Claudia Senik-Leygonie.
      SeriesDevelopment Centre studies
      ContributionsSenik-Leygonie, Claudia.
      Classifications
      LC ClassificationsHB236.C55 L34 1997
      The Physical Object
      Pagination143 p. :
      Number of Pages143
      ID Numbers
      Open LibraryOL72151M
      ISBN 109264154736
      LC Control Number99172753
      OCLC/WorldCa37025467

        The Brookings Institution is a nonprofit public policy organization based in Washington, DC. Our mission is to conduct in-depth research that leads . Introduction. Definitions and Basics. Price Controls, from the Concise Encyclopedia of Economics. Governments have been trying to set maximum or minimum prices since ancient times. The Old Testament prohibited interest on loans, medieval governments fixed the maximum price of bread, and in recent years governments in the United States have fixed the price of gasoline, the rent on .

      Price Controls. Economists typically don't care for controls on price: In a perfect world, the market would take care of itself. However, in the real world, governments can and do set price limits. A maximum price control prohibits all exchanges of a good above a certain price, with the controlled price being below the market equilibrium price. A minimum price control prohibits exchanges below a certain price. The fourth of ten lectures from Joseph Salerno's Introduction to Austrian Economic Analysis seminar.

      China Economics and Management Academy, Central University of Finance and Economics (CUFE), Beijing. 6 [10] Chien-Chiang Lee. School of Economics and Management, Nanchang University, Nanchang. 7 [8] Yi-Ming Wei. Center for Energy and Environmental Policy Research (CEEP), Beijing Institute of Technology, Beijing. 8 [ despite this worrisome history of price controls, government continues to follow the practice. In some cases, government disguises these policies with elaborate pricing schemes, but they still lead to serious problems for producers and consumers. Rent Control Rent control provides a classic example of the distortions created by price controls.


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Price controls and the economics of institutions in China by Jean-Jacques Laffont Download PDF EPUB FB2

Jean-Jacques Laffont, and Claudia Senik, Price Controls and the Economics of Institutions in China, OECD Publishing,pages. Find many great new & used options and get the best deals for Price Controls and the Economics of Institutions in China at the best online prices at eBay.

Free shipping for many products. Price Controls and the Economics of Institutions in China. Free US Delivery | ISBN: Condition: Economics & Industry Economics Books. Price reform. Tight control of Price controls and the economics of institutions in China book gas prices in China has been a major hindrance to the development of available resources, competitiveness with other fuels and overall market efficiency (Fang and Ma, ).

In recent years, the Chinese government has attempted to remedy the situation by introducing a number of natural-gas pricing Cited by: 4. Despite significant progress made by China in liberalizing its natural gas market, certain key areas such as market access and pricing mechanisms remain heavily monopolized or controlled by the government.

To assess how such distortions impact the market, we developed a Mixed Complementarity Problem model of China’s natural gas supply industry, calibrated to data. The test will be whether price controls are removed and prices allowed to self-correct once the Chinese New Year passes — or inflation miraculously drops.

InChina placed a floor, as opposed to ceiling, on prices when the economy was going into under-drive. That measure eventually was phased out, offering some hope that the current. India has companies such as Infosys that is hailed in the book “The World Is Flat,” and Tata Motors, a well-known manufacturer of passenger vehicles.

as well as price controls, implementing a system of free trade of goods in product markets. Comparison of Economic Institutions in China and India. In: Global Business Strategy. Source: Marcus Noland, "Implications of Asian Economic Growth," Asia Pacific Economic Cooperation Working Paper Series NumberWashington: Institute for International Economics.

References. Cheng, Leonard K.H. "US Attitudes and Policy Towards Investment in China," paper presented at the International Conference on Sino-US Economic Relations, Hong Kong, June. Economics Price Controls.

National and local governments sometimes implement price controls, legal minimum or maximum prices for specific goods or services, to attempt managing the economy by direct controls can be price ceilings or price floors. A price ceiling is the legal maximum price for a good or service, while a price floor is the legal minimum price.

Price controls can take the form of maximum and minimum prices. They are a way to regulate prices and set either above or below the market equilibrium: Maximum prices can reduce the price of food to make it more affordable, but the drawback is a maximum price.

The lifting of price controls was a major reform, which allowed market institutions to develop to the point where they could replace state planning. China's economic growth has been compared with other developing countries, such as Brazil, Mexico, and India.

Opposite the influential power-capital individuals and institutions are the various groups that have been shortchanged by the economic growth -- migrant workers, farmers, working-class women, and a growing number of house church members, among others.

The deprivation of their collective rights is the ultimate price of China's s: 5. Price controls, either price ceilings or price floors, often have unanticipated side effects. Think about it—passing a law doesn’t by itself make economic problems go away.

Such is the case with claims of price gouging, the charging of “excessively high” prices, which was exemplified by what occurred in the wake of Hurricane Katrina. The largest central SOEs were told: ‘If you forego the planned economy and control over your smaller subsidiaries, we will give you financial resources so you still have a soft-budget constraint.’ These trade-offs in the late 80s and early 90s continue to cast a long shadow over China’s economic evolution today.

It’s a very important book. Economics and Regulation in China goes beyond traditional economic analysis of law by focusing specifically on the question of how economic tools can guide the quality of legislation. To this end, the book centres in on three areas: regulation as a tool of economic growth, competition policy and environmental policy.

Price controls are government-mandated minimum or maximum prices set for specific goods and are typically put in place to manage the affordability of the goods. At best, price controls. In the words of Thomas Sowell, author of Basic Economics: A Citizen's Guide to the Economy (): "Price controls turned a minor adjustment into a major shortage." Rent controls are another example for price controls, such as those used in New York City.

of China’s economic institutions, (6) the factors contributing to rapid economic growth, and (7) the future prospects of further reform and growth, with impor-tant conclusions summarized in the last section concerning economic reform in general.

Much of the material is drawn from the author’s book China’s Economic Transformation(Blackwell. Price controls can be thought of as "binding" or "non-binding." A non-binding price control is not really an economic issue, since it does not affect the equilibrium price.

If a price ceiling is set at a level that is higher than the market equilibrium, then it will not affect the price. Think of an example: suppose the borough of State College. Understanding China’s economic indicators: translating the data into investment opportunities / Tom Orlik.

ISBN (hardback: alk. paper) 1. Economic indicators—China. China—Economic conditions— I. Title. HCO —dc22 The price controls that strangled oil production during the s had their beginnings as part of a ninety-day price freeze ordered by President Richard Nixon in August Those controls would last for a decade, until removed by President Ronald Reagan.

The economy of China, described as Socialism with Chinese characteristics since the 12th National Congress of the CCP inis a mixed socialist market economy which is composed of state-owned enterprises and domestic and foreign private businesses and uses economic planning.

The income generated by state-owned enterprises accounted for about 40% of China's GDP of USD trillion in. The epidemic is in full swing. To save people’s lives, mitigation measures are severely curtailing economic activity. This may be expected to last at least one or two quarters.

Phase 2: the post-war recovery. The epidemic will be under control with vaccines/drugs, partial herd immunity, and continued but less disruptive containment measures.9 The analysis that follows illustrates how each of the eight economic drivers of the China price reduce one or more of the components of the total cost for Chinese manufacturers.

For the six of the eight drivers in the list above, the cost impacts may be directly measured, e.g., lower labour costs in China directly reduce the labour cost component, lower regulatory compliance costs reduce.