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|Title:||Industrial policy and resource allocation: Implications on China's participation in globalization|
Cross-industry resource allocation
|Citation:||Lu, D. (2001). Industrial policy and resource allocation: Implications on China's participation in globalization. China Economic Review 11 (4) : 342-360. ScholarBank@NUS Repository. https://doi.org/10.1016/S1043-951X(01)00038-4|
|Abstract:||China's industrial policy regime has played an important role in the country's economic development and participation in the world economy. This paper examines the effect of this regime on cross-industry resource allocation in three aspects: incentives, openness of trade and investment, and allocative efficiency. The results indicate effectiveness of industrial policy in offering incentives and controlling market openness in line with the planned priority. Evidence in cross-industry resource allocation, however, suggests significant efficiency gains are yet to be obtained from further participation in globalization.©2001 Elsevier Science Inc.|
|Source Title:||China Economic Review|
|Appears in Collections:||Staff Publications|
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