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By Xiaobo Pang and Weiting Huang


In term of time and space, economic changes are non-ergodic, reform speed and equilibrium is determined by the characteristics of time and space. The great achievements of China's gradual reforms are by no means accidental, time-space dependence and non-ergodic economic changes is consistent with the guiding ideology of “feeling our way across the river”, by time-space compression, China's gradual reforms have exhibited dynamic adaptive efficiency.

Topics: B52 - Institutional; Evolutionary, O10 - General, P51 - Comparative Analysis of Economic Systems, B25 - Historical; Institutional; Evolutionary; Austrian, P16 - Political Economy
Year: 2008
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