Enlightenment Of New Institutional Economics Theories To Chinese Economic Reform

Since adoption of reform and open policy, our economy has gained wonderful development, but in the meantime, many stubborn new problems are brought about, which cumber further reform. In the light of neo-institutional economic theories, this is a necessary result: on the one hand, the design of institutions is the key factor influencing economic growth and the improvement in one institution may even induce rapid economic development;on the other hand, "path dependency" determines system transition is a difficult and time-consuming process, during which, the incompatibility between different institutions would result in lots of social problems. Therefore, in order to boost our market economy construction, we have to, based on our realities, stimulate institutional innovations and pay attention to the coordination between different institutions. Along this reform course, the role of government has to be emphasized and made good use of.In the text, neo-institutional economic theories would be exploited to analyze the practice of our economic reform while some policy suggestions would be put forward.