This seminar proposes an institutional analytic framework to explain the path an economy takes from poverty to prosperity. Close examination of the development history of China since the Xinhai Revolution in 1911 under this framework indicates that it is the combination of the unbiased single-peaked governance and an access-opening economy that makes the high-speed growth of China over 40 years.Furthermore, a political economic general equilibrium model – the Accessibility-Cohesion Model (for short, A-C Model) – under the analytic framework is sketched and it is shown that continuous economic growth can be cultivated by either unbiased single-peaked or compromise-oriented multi-peaked political governance, as long as political cohesion and common actions can be achieved and economic accessibility is guaranteed.
Speaker: YANG Guangpu, Associate Research Fellow at the Development Research Center (DRC) of the State Council, P. R. China, and currently a Visiting Scholar at the Blavatnik School of Government, Oxford University
Discussants: Peter Holmes; Richard Jolly
Chair: Jing Gu
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