LEADER 04003nam 2200661 a 450 001 9910779536303321 005 20230802010335.0 010 $a0-674-07019-4 010 $a0-674-06539-5 024 7 $a10.4159/harvard.9780674065390 035 $a(CKB)2550000001039408 035 $a(StDuBDS)AH24437901 035 $a(SSID)ssj0000860052 035 $a(PQKBManifestationID)11454161 035 $a(PQKBTitleCode)TC0000860052 035 $a(PQKBWorkID)10896741 035 $a(PQKB)11272278 035 $a(MiAaPQ)EBC3301259 035 $a(DE-B1597)178207 035 $a(OCoLC)835374469 035 $a(OCoLC)979575157 035 $a(DE-B1597)9780674065390 035 $a(Au-PeEL)EBL3301259 035 $a(CaPaEBR)ebr10678690 035 $a(OCoLC)923119851 035 $a(EXLCZ)992550000001039408 100 $a20111013d2012 uy 0 101 0 $aeng 135 $aur||||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCapitalism from below$b[electronic resource] $emarkets and institutional change in China /$fVictor Nee, Sonja Opper 210 $aCambridge, Mass. $cHarvard University Press$d2012 215 $a1 online resource (xv, 431 p. )$cill 300 $aFormerly CIP.$5Uk 311 0 $a0-674-05020-7 320 $aIncludes bibliographical references and index. 327 $aWhere do economic institutions come from? -- Markets and endogenous institutional change -- The epicenter of bottom-up capitalism -- Entrepreneurs and institutional innovation -- Legitimacy and organizational change -- Industrial clusters and competitive advantage -- The development of labor markets -- Institutions of innovation -- Political economy of capitalism. 330 $aMore than 630 million Chinese have escaped poverty since the 1980's, reducing the fraction remaining from 82 to 10 percent of the population. This astonishing decline in poverty, the largest in history, coincided with the rapid growth of a private enterprise economy. Yet private enterprise in China emerged in spite of impediments set up by the Chinese government. How did private enterprise overcome these initial obstacles, to become the engine of China's economic miracle? Where did capitalism come from? Studying over 700 manufacturing firms in the Yangzi region, Victor Nee and Sonja Opper argue that China's private enterprise economy bubbled up from below. Through trial and error, entrepreneurs devised institutional innovations that enabled them to decouple from the established economic order to start up and grow small, private manufacturing firms. Barriers to entry motivated them to build their own networks of suppliers and distributors, and to develop competitive advantage in self-organized industrial clusters. Close-knit groups of like-minded people participated in the emergence of private enterprise by offering financing and establishing reliable business norms. This rapidly growing private enterprise economy diffused throughout the coastal regions of China and, passing through a series of tipping points, eroded the market share of state-owned firms. Only after this fledgling economy emerged as a dynamic engine of economic growth, wealth creation, and manufacturing jobs did the political elite legitimize it as a way to jump-start China's market society. Today, this private enterprise economy is one of the greatest success stories in the history of capitalism. 606 $aCapitalism$zChina 606 $aEntrepreneurship$zChina 606 $aIndustrial policy$zChina 607 $aChina$xEconomic policy 607 $aChina$xPolitics and government 615 0$aCapitalism 615 0$aEntrepreneurship 615 0$aIndustrial policy 676 $a330.951 700 $aNee$b Victor$f1945-$0120686 701 $aOpper$b Sonja$01461952 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910779536303321 996 $aCapitalism from below$93670796 997 $aUNINA