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SUMMARY:Rethinking China’s Path of Industrialization – The Role of Sta
 te and Institutions - Professor Harry X. Wu (Hitotsubashi University\, Tok
 yo) 
DTSTART:20131031T170000Z
DTEND:20131031T183000Z
UID:TALK48040@talks.cam.ac.uk
CONTACT:Sian Pooley
DESCRIPTION:This study shows that China’s post-1949 state-led industrial
 ization has closely followed an underlying path that began in the late nin
 eteenth century. It was initiated by the pressing national defense needs a
 nd has since been motivated by the same strong incentives for a faster cat
 ch up with the West despite radical regime shifts. Government-determined a
 nd influenced resource allocation benefited selected industries and hence 
 nurtured vested interest groups connecting and integrating with the ruling
  elite\, which have strengthened and sustained the path. I argue that this
  should be the key to the understanding of the structural changes of the e
 conomy over the last century. This also means that the path is inherently 
 inefficient which is evidenced by a growth accounting exercise in this stu
 dy using a newly constructed data set.
LOCATION:Graham Storey Room\, Trinity Hall
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