The unbalanced growth hypothesis and the role of the state: The case of China's state-owned enterprises

• 成果类型: Article
• 署名作者: Holz, Carsten A.
• 署名单位: University of Southern California; Hong Kong University of Science & Technology
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2010.10.007
• 发表日期: 2011
• 页码: 220-238
• 关键词: LINKAGE; State ownership; Industrial policy; Unbalanced growth hypothesis; Input-output model; Albert Hirschman

摘要

Albert Hirschman's unbalanced growth hypothesis suggests that a developing economy can promote economic growth by initially investing in industries with high backward and forward linkages. In the case of Chinese economic policy today, one application would be the continued presence of the state in high-linkage sectors and the strategic withdrawal of the state from low-linkage sectors. The evidence shows that while the degree of linkage plays an important role in generating economic growth in China, province-specific withdrawal strategies for the state sector have no effect on economic growth. (C) 2010 Published by Elsevier B.V.