Biliang Hu, Routledge, 2007
China's successful transition from a centrally planned economy to a socialist market economy, with rapid growth in rural areas 1980s, is a consequence of the impact of both formal and informal institutions. Hitherto, most work undertaken on this issue has focused on formal institutions. This book shows the great importance of informal institutions on the economic and social development of rural China. It examines the relationship between informal institutions and rural development in China since the end of the 1970s, focusing in particular on three major informal institutions: village trust and rotating savings and credit associations (ROSCAs), guanxi community and 'integrating village with company' (IVWC) governance.