Policy and Assessment of Structural Reform on the Supply Side in the Global Perspective

Abstract

Influenced by the “New Right” thoughts, the major economies carried out the structural reform on the supply side in succession to clear the development obstacles in the 1970s, resulting in the structural advantages that kept those countries at the leading position. Nevertheless, with the emphasis on the market and the free competition, the reform had negative effects as well. Therefore, China, having lately been conducting the reform following those countries, has been struggling to extend their success and to solve the possible problems.