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中国政府采取了双轨制，这被认为优于休克疗法（McKinnon，1993）。跟华盛顿共识倡导的“宏观制度优先”思路不同，中国政府采取了“微观优先”的办法，以提高农民和国有企业工人的积极性。在农村，政府采取了以家庭为单位的耕作体系，取代了集体耕作体系[20]；在国有企业中，采取了利润留成和扩大企业经营自主权的措施[21]。这些措施使得农民和工人对经营剩余具有了部分获取权。这些改革大大提高了农业和工业的积极性和生产率（Groves et al.，1994；Jefferson，Rawski and Zheng，1992；Jefferson and Rawski，1995；Lin，1992；Li，1997；Weitzman and Xu，1995）。然后，中国政府允许集体的乡镇企业[22]、私有企业、合资企业以及国有企业用它们的资源投资于以前被抑制的劳动密集型行业。同时，要求农民和国有企业履行义务，按照预定价格把其一定数量的产品卖给政府。前一措施改善了资源配置的效率，后一措施确保了政府有能力继续补贴那些不具有自生能力的企业。就这样，中国政府同时实现了经济稳定和充满活力的经济增长。
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