Evolution of Dual Pricing
- Resource Type
- Authors
- Jiann-Jong Guo
- Source
- Price Reform in China, 1979–86 ISBN: 9781349116836
- Subject
- Microeconomics
Control (management)
Mode (statistics)
Price ratio
Economics
Black market
Gradual increase
Price system
Dual (category theory)
- Language
When reform is executed in an evolutionary mode, it is impossible to avoid having dual systems co-existing for a period of time ... During the transformation of the economic structure, great shocks could be prevented by applying a pricing policy which combines relaxed control with readjustments and by taking advantage of the gradual increase and decrease of dual pricing to promote the overall reform of the economic system (Liu Guoguang et al., 1985).