Title China's gilded age : the paradox of economic boom and vast corruption / Yuen Yuen Ang

Published Cambridge, United Kingdom ; New York, NY : Cambridge University Press, 2020 ©2020

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Description 1 online resource (xv, 257 pages) : illustrations Contents Introduction : China's gilded age -- Unbundling corruption across countries -- Unbundling corruption over time -- Profit-sharing, Chinese style Corrupt & Competent -- All the king's men -- Rethinking nine big questions Summary "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 anticorruption 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 rise of capitalism was not accompanied by the eradication of corruption, but rather by its evolution from thuggery and theft to access money. In doing so, she changes the way we think about corruption, not only in China but around the world."-- Provided by publisher Bibliography Includes bibliographical references and index Notes Description based on online resource; title from digital title page (viewed on May 28, 2020) Subject Political corruption -- Economic aspects -- China Corruption -- Economic aspects -- China Economic development -- Moral and ethical aspects -- China Capitalism -- Moral and ethical aspects -- China Capitalism -- Moral and ethical aspects Economic development -- Moral and ethical aspects Economic history Political corruption -- Economic aspects Politics and government SUBJECT China -- Politics and government -- 2002- http://id.loc.gov/authorities/subjects/sh2004009498 China -- Economic conditions -- 2000- http://id.loc.gov/authorities/subjects/sh99010023 Subject China Form Electronic book LC no. 2019052600 ISBN 9781108778350 1108778356

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