A Comparison of Economic Transition Between China and Russia

The basis of economic transition determines the different direction of the economic transition in China and Russia.Success and failure of economic transition in China and Russia are mainly determined by efficiency of property rights reform.By comparing the economic transition between China and Russia,this paper summarizes some profound experiences and lessons from three aspects.Firstly,the transition economy must attach great importance to the effect of government.Secondly,privatization of property rights is not the necessary and sufficient condition to improve the efficiency of economy.Thirdly,the change of property rights has the characteristics of evolution and not being replicated.