China’ Socialist Market Economy: Lessons of Success

In the last quarter of calendar year 2004, the author of this paper carried out an exercise to determine the evolution of the global economy and politics. This resulted in an ICRIER working paper. As part of this exercise it was necessary to examine the past growth performance of China’s economy more carefully and closely and resulted in a policy paper. Since then the author has refined and furthered the research on the global economy and polity in several ICRIER Working papers. The current paper is the culmination of a similar refinement of the earlier policy paper on the Lessons of China’s growth experience for non-socialist countries. The focus of the paper is on past
economic growth, its determinants and the identification of policies that can be adopted by other countries to accelerate economic growth.