The Costs of Freedom: New Institutional Comparison of China’s and the U.S.’s Responses to the Financial Collapse
Davis, Kent F.
Following the financial collapse of 2008, both China and the United States implemented stimulus plans to minimize adverse market performance. Arguably the vertically integrated institutional structure of China produced a timely and homogenous plan that stimulated market performance. Conversely, the decentralized institutional structure of the United States produced a plan that was delinquent, discordant, and inefficacious. In other words, China’s stimulus plan had a closer fit between means and ends.