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《Social Sciences In China》 2005-01
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Changes in the Micro-Foundations of Cyclical Fluctuations in the Chinese Economy

Ju Guoyu Lan Yi  
From the point of view of economic fluctuations in the transitional period since reform, one can observe a gradual and an increase in stability. This can be traced largely to progress of marketization in the micro-economy through the strengthening of budget constraints on SOEs and greater efficiency in allocating scarce resources between the public and the private sectors. In the course of marketization, profound changes have occurred in the micro-economic foundations of China's economic fluctuations. At the same time as these changes have weakened transitional economic fluctuations, the economic fluctuations characteristic of a mature market economy have gradually appeared. The current economic growth is thus proceeding on a totally new basis. Macro-economic regulatory authorities must further the process of marketization and transform their regulatory methods in adapting to the cyclical fluctuations of a market economy characterized by production surpluses.
【CateGory Index】: F124.8
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