正如在其它命令经济中一样,中国的通货膨胀已经威胁到经济改革进程。那么,通货膨胀必然伴随命令经济体制的转型过程吗?长期被认为是渐进改革最成功典型的中国为什么到80年代末跌入了严重的通货膨胀深渊?本文考察中国通货膨胀经验,强调了财政失衡的重要作用。从命令经济过渡到市场经济要求全面改变价格体系和相对价格。在命令经济中,价格在单独资源配置决策中起的作用不很大。价格对部分居民消费决策有影响,但是,生产和投资 As in other command economies, inflation in China has already threatened the economic reform process. So, is inflation inevitably accompanied by the process of ordering the transition of the economic system? Why was China considered the most successful and gradual reform gradually fell into a serious abyss of inflation by the late 1980s? This article examines China’s inflation experience and emphasizes the fiscal imbalance The important role. The transition from command economy to market economy requires a complete change of price system and relative prices. In the command economy, the price plays a less significant role in the decision of individual resource allocation. The price has an impact on some residents’ consumption decisions, however, production and investment