Munich Personal RePEc Archive


Pang, Xiaobo and Huang, Weiting (2008): 中国改革的“新政治经济学”:速度与均衡.


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In term of time and space, economic changes are non-ergodic, reform speed and equilibrium is determined by the characteristics of time and space. The great achievements of China's gradual reforms are by no means accidental, time-space dependence and non-ergodic economic changes is consistent with the guiding ideology of “feeling our way across the river”, by time-space compression, China's gradual reforms have exhibited dynamic adaptive efficiency.

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