Rethinking the Economic Performance of Chinese Special Economic Zones
Beginning with the 1979 open-door policy, China began its transition from a planned to market economy. Special Economic Zones (SEZ), the first step toward an open door policy, were established. Although Shenzhen, as a representative of SEZ, is widely known for excellent outputs, we do not altogether...
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| Format: | Article |
| Language: | English |
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Korea Institute for International Economic Policy
2004-12-01
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| Series: | East Asian Economic Review |
| Subjects: | |
| Online Access: | http://dx.doi.org/10.11644/KIEP.JEAI.2004.8.2.131 |
| _version_ | 1818187141373493248 |
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| author | Eui-Hyun Choi |
| author_facet | Eui-Hyun Choi |
| author_sort | Eui-Hyun Choi |
| collection | DOAJ |
| description | Beginning with the 1979 open-door policy, China began its transition from a planned to market economy. Special Economic Zones (SEZ), the first step toward an open door policy, were established. Although Shenzhen, as a representative of SEZ, is widely known for excellent outputs, we do not altogether agree that Chinese economic growth was heavily induced by the development of SEZ. The objectives of this paper are to analyze the economic performance of each SEZ, to explain that China's economic performance relied not only on unbalanced development policy but also on initial conditions, and to prove the role of continuous and increasing open-door policy in Chinese economic growth. This paper closely analyzed economic performance of all SEZ (Shenzhen, Zhuhai, Shantou, Xiamen, and Hannan) from 1980 to 2002 and found the following conclusions: 1) economic development of SEZ are more affected by location and initial conditions instead of a special policy; 2) the effect of SEZ to economic growth is not known; 3) widely performed open door policy revealed a bigger effect to economic growth than development of SEZ. Therefore the effect of the SEZ to economic growth was restricted considerably, and the growth of the Chinese economy is feasible by continuous and stepped up open-door policy |
| first_indexed | 2024-12-11T23:06:19Z |
| format | Article |
| id | doaj.art-c9d705d744ca446197f509d958c717a4 |
| institution | Directory Open Access Journal |
| issn | 2508-1640 2508-1667 |
| language | English |
| last_indexed | 2024-12-11T23:06:19Z |
| publishDate | 2004-12-01 |
| publisher | Korea Institute for International Economic Policy |
| record_format | Article |
| series | East Asian Economic Review |
| spelling | doaj.art-c9d705d744ca446197f509d958c717a42022-12-22T00:46:55ZengKorea Institute for International Economic PolicyEast Asian Economic Review2508-16402508-16672004-12-0182291317http://dx.doi.org/10.11644/KIEP.JEAI.2004.8.2.131Rethinking the Economic Performance of Chinese Special Economic ZonesEui-Hyun Choi 0Chungwoon UniversityBeginning with the 1979 open-door policy, China began its transition from a planned to market economy. Special Economic Zones (SEZ), the first step toward an open door policy, were established. Although Shenzhen, as a representative of SEZ, is widely known for excellent outputs, we do not altogether agree that Chinese economic growth was heavily induced by the development of SEZ. The objectives of this paper are to analyze the economic performance of each SEZ, to explain that China's economic performance relied not only on unbalanced development policy but also on initial conditions, and to prove the role of continuous and increasing open-door policy in Chinese economic growth. This paper closely analyzed economic performance of all SEZ (Shenzhen, Zhuhai, Shantou, Xiamen, and Hannan) from 1980 to 2002 and found the following conclusions: 1) economic development of SEZ are more affected by location and initial conditions instead of a special policy; 2) the effect of SEZ to economic growth is not known; 3) widely performed open door policy revealed a bigger effect to economic growth than development of SEZ. Therefore the effect of the SEZ to economic growth was restricted considerably, and the growth of the Chinese economy is feasible by continuous and stepped up open-door policyhttp://dx.doi.org/10.11644/KIEP.JEAI.2004.8.2.131Special Economic ZoneOpen-Door PolicyFDIEconomic Growth |
| spellingShingle | Eui-Hyun Choi Rethinking the Economic Performance of Chinese Special Economic Zones East Asian Economic Review Special Economic Zone Open-Door Policy FDI Economic Growth |
| title | Rethinking the Economic Performance of Chinese Special Economic Zones |
| title_full | Rethinking the Economic Performance of Chinese Special Economic Zones |
| title_fullStr | Rethinking the Economic Performance of Chinese Special Economic Zones |
| title_full_unstemmed | Rethinking the Economic Performance of Chinese Special Economic Zones |
| title_short | Rethinking the Economic Performance of Chinese Special Economic Zones |
| title_sort | rethinking the economic performance of chinese special economic zones |
| topic | Special Economic Zone Open-Door Policy FDI Economic Growth |
| url | http://dx.doi.org/10.11644/KIEP.JEAI.2004.8.2.131 |
| work_keys_str_mv | AT euihyunchoi rethinkingtheeconomicperformanceofchinesespecialeconomiczones |