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- Title
Is the state-led industrial restructuring effective in transition China? Evidence from the steel sector.
- Authors
Pei Sun
- Abstract
During the reform era, the Chinese government has been carrying out strategic industrial policies modelled on those in post-war Japan and South Korea, in the hope of transforming its highly fragmented manufacturing sector into one that comprises a small number of internationally competitive big businesses. Using the evolution of the Chinese steel industry structure from the late 1980s to the early 2000s as a case in point, this paper finds that the Chinese government's consolidation attempts have, by and large, not been very successful. The disappointing policy outcome is interpreted by a detailed examination of the industry policy mechanism in China. It is concluded that the institutional framework of the Chinese state differs from its counterparts in Korea and Japan in some fundamental aspects. Among these, the fragmented and uncoordinated Chinese bureaucracy contributes significantly to the inefficacy of policy implementation.
- Subjects
CHINA; JAPAN; SOUTH Korea; STEEL industry; INDUSTRIAL policy; BIG business; SUSTAINABLE development; BUREAUCRACY; SIZE of industries
- Publication
Cambridge Journal of Economics, 2007, Vol 31, Issue 4, p601
- ISSN
0309-166X
- Publication type
Article
- DOI
10.1093/cje/bem002