Research On The Institutional Adaptive Efficiency Of China's Economic Growth

As a late-development country,the economic development of China is a great success in the world.However in the beginning of 13 th Fifth-year Plan,China is facing the pressure of economic downturn.How to construct an effective institution to keep the growth of economic is a very significant issue.From the perspective of the adaptive efficiency,proposed by Douglass C.North in his institution change theory,we studied the economic development history of late-development countries,and divided it into 3 stages.The study of late-development countries affords us lessons to construct our institution.Besides,we should analyze China's present institution in depth to understand the particularity of China's national condition.After comparing the process of institution change with other late-development countries,there are three possible ways for China to continue its institution change effectively.The first one is to strengthen the construction of China's contemporary culture and ideology.The second one is to combine the method of top-level design and “Crossing the River by Feeling the Stones”.Last but not least,the role government plays in the institution change should be changed.The government needs to rebuild its regime legitimacy and reduce its intervention in the economy.