M.V. Karpov's article is the first one in his series of sketches on political economy of Chinese economic reform. It examines social, political and institutional circumstances of the implementation of the so called "double-track" price model in China between 1979 and 1993. Author pays special attention to the structural and regional dimensions as well as to dynamic characteristics of the "double-track" model, introducing the concept of "plan-market frontier". M.V. Karpov suggests that the term "double" in this model is to be understood not only as the "symbiosis of plan and market" but also as the competition between the central and local authorities for more leverage to define the "planmarket frontier". According to the author, unsuccessful attempts of the central government to administer "doubletrack" model caused political crisis in 1989. Subsequently ventured policies of recentralization had actual results in further fragmentation and localization of decision making in pricing. Eventually, by 1993, there evolved new dynamic arrangement of pricing which author calls "multiple-track" model, centered on local party-state authorities.

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