Books Details
Author : Yuen Yuen Ang Pages : 266 pages Publisher : Cambridge
University Press Language : ISBN-10 : 1108478603 ISBN-13 :
9781108478601
Books Descriptions
Why has China grown so fast for so long despite vast
corruption? In China's Gilded Age, Yuen Yuen Ang argues that
not all types of corruption hurt growth, nor do they cause the
same kind of harm. Ang unbundles corruption into four
varieties: petty theft, grand theft, speed money, and access
money. While the first three types impede growth, access money
- elite exchanges of power and profit - cuts both ways: it
stimulates investment and growth but produces serious risks for
the economy and political system. Since market opening,
corruption in China has evolved toward access money. Using a
range of data sources, the author explains the evolution of
Chinese corruption, how it differs from the West and other
developing countries, and how Xi's anti-corruption campaign
could affect growth and governance. In this formidable yet
accessible book, Ang challenges one-dimensional measures of
corruption. By unbundling the problem and adopting a
comparative-historical lens, she reveals that the
