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| 文件名: The unbalanced growth hypothesis and the role of the state.pdf | |
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The unbalanced growth hypothesis and the role of the state: The case of China's state-owned enterprises
Carsten A. Holza, b,  , [size=1em]a Social Science Division, Hong Kong University of Science & Technology, Clear Water Bay, Kowloon, Hong Kong b Department of Economics, University of Southern California, 3620 South Vermont Avenue, KAP 300, Los Angeles, CA 90089-0253, USA [size=1em]Received 14 July 2007; [size=1em]revised 9 July 2010; [size=1em]accepted 29 October 2010. [size=1em]Available online 4 November 2010. [size=1em][size=1em]AbstractAlbert 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. |
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