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  • Distortions in the Opening

Distortions in the Opening

"Segmented Deregulation" and Weak Property as Explanations for China's "Zone Fever" of 1992-1993

David Zweig

English , 1999/01 USC Seminar Series Hong Kong Institute of Asia-Pacific Studies, CUHK

Tags: China Studies

215 x 140 mm , 28pp ISBN / ISSN : 978-962-441-714-2

  • US$2.50

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This paper argues that "zone fever" had both policy and institutional roots and was the logical result of incentives facing local officials. In 1993, Zhu Rongji cracked down on this frenzy. While the policy roots of "zone fever" may be gone, its institutional roots persist and are still fuelling a property boom that threatens China's reforms.

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