China's economic transformation in the evolutionary perspective: uncertainty, learning and experimentation
by Fu-Lai Tony Yu
International Journal of Economic Policy in Emerging Economies (IJEPEE), Vol. 1, No. 1, 2007

Abstract: This paper applies the Austrian perspective of human agency to model a 'learning government'. It portrays the government as an actor who makes decision under uncertainty. Public agents, like private enterprises, formulate expectations and plans based on their experiences. Assimilating new incoming events, they revise their plans, learn to implement projects, and experiment new ideas, resulting in policy changes. This Austrian perspective of the governmental process is applied to re-appraise the role of the government in the economic transformation of modern China. The paper concludes that the Austrian approach in understanding development planning is an alternative to the cost-benefit analysis.

Online publication date: Wed, 31-Oct-2007

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Economic Policy in Emerging Economies (IJEPEE):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com