governance and economic in china and india.PDF

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1、GovernanceandEconomicGrowthinChinaandIndiaCHAPTER7GovernanceandEconomicGrowthinChinaandIndiaPhilipKeeferOneofthecompellinglessonsthatChinaandIndiaoffertootherpoorcountriesistheprofoundimportanceforeconomicgrowthandpovertyreductionofallowingprivatefirmstocompeteinmarketsfr

2、omwhichtheywerepreviouslybarredandofprovidingthecomplementarygovernmentsservices,suchasinfrastructure,thatpromoteeconomicproductivity.Thegovernanceenvironmentofthesetwocountriespointstoasecondimportantlessonthathasattractedlessattention.Althoughthetwocountrieshavesucceede

3、dunderhighlydisparategovernanceenvironments,andneitheroffersahighdegreeofsecuritytoentrepreneurialactivity,thelessonisapositiveone.Theevidencepresentedinthischapterdemonstratesthat,basedontheexperienceofChinaandIndia,poorcountriesshouldgiveahighprioritytogoodgovernance.Go

4、vernanceisaslipperyconcept.Onecommondefinitionfocusesonoutcomes—theextenttowhichgovernmentsenactandimplementpoliciesintheinterestofallcitizens.Anotherfocusesonpoliticalinstitutionsanddynamicsthatdeterminetheseoutcomes—theextenttowhichgovernmentshaveincentivestoadoptandenf

5、orcepoliciesintheinterestsofallcitizens.Corruptionisthemostfrequentlyusedindicationofweakgovernanceoutcomes.Theineffectivetranslationofpublicresourcesintopublicservicesisanother.Thevulnerabilityofpropertyandcontractrightstoopportunisticbehaviorbygovernmentofficialsandothe

6、rprivateactorsisathird.Thesecurityofpropertyrightsandtheincentivesofpoliticianstoguaranteesecurepropertyrightsaremostcloselyassociatedwitheconomicgrowth.TheirroleinexplainingeconomicgrowthinIndiaandChinaarethereforethefocusofthischapter.Thepoliticaldefinitionofgovernancei

7、sthelessusual,butitiskeytounderstandingthedynamicsofgoodgovernance.Whatarethecharacteristicsofpoliticalinstitutionsandcompetitionthatallowgovernments,particularlyinChinaandIndia,tomakecrediblepromisestoentrepreneursthattheirinvestmentswillnotbeexpropriated?Theanalysisbelo

8、wpointstoavarietyofchangesintheunderlyingprocessofgoverning,startinginthe1970s,thatgavegovernmen