Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/277177 
Authors: 
Year of Publication: 
2010
Citation: 
[Journal:] Intervention. European Journal of Economics and Economic Policies [ISSN:] 2195-3376 [Volume:] 07 [Issue:] 1 [Year:] 2010 [Pages:] 71-89
Publisher: 
Metropolis-Verlag, Marburg
Abstract: 
In neoclassical thinking, insufficient development is considered the result of a lack of resources, and an inefficient allocation. Deregulated markets have to guarantee a better allocation of resources as well as a net resource inflow to augment the domestic physical capital stock. From a Schumpeterian-Keynesian perspective, it is not the lack of physical resources and optimal allocation which prevent development. It is first and foremost the lack of a sufficient credit-investment mechanism which leads to the perpetuation of underdevelopment. It is shown here that the Schumpeterian-Keynesian perspective gives a much more plausible interpretation of the Chinese development than the neoclassical perspective. It is also shown under which regulations and conditions a credit-investment process in developing countries is possible.
Subjects: 
credit
economic development
Schumpeter
Keynes
China
JEL: 
E12
E44
F36
F43
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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