China’s Transition Puzzle: Institutions, SOE Restructuring, and the Market Mechanisms Behind Post-1979 Growth
The source argues that China’s rapid post-1979 growth challenges standard transition-economy prescriptions and is better explained through institutional dynamics across informal norms, formal rules, and governance arrangements. It highlights SOE restructuring—especially via M&A and state-influenced listed firms—as a core mechanism in China’s distinctive path toward a socialist market economy.