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The Creation and Evolution of Market Governance in Transitional Economics

Pin Lv

Abstract

The advanced market economy enables market mechanism to realize reasonable and efficient social resource allocation. And in this course market mechanism is decided by market governance. As in China planned economy is transisting into market economy, market governance will surely plays the decisive role in achieving effective socialist market mechanism and standardized market order.

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Key concepts: Market mechanism, Factor market, Corporate governance, Nonmarket forces, Order (exchange), Socialist market economy, Market economy, Mechanism (biology)