Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/167470
Authors: 
Holz, Carsten A.
Year of Publication: 
2017
Series/Report no.: 
CESifo Working Paper 6484
Abstract: 
The investment-intensive growth model of the People’s Republic of China (PRC) is often viewed as state-driven and ultimately unsustainable. But largely unnoticed, a shift has taken place. This paper examines the changes in investment patterns since 2003 and the potential impact of industrial policies on these patterns. The point of view is macroeconomic, based on economy-wide data with various breakdown. Significant shifts in investment patterns across sectors and ownership forms have occurred over time, supporting a new growth model with a reduced role of the state, and these shifts appear driven more by market factors than by government policies.
Subjects: 
investment rate
investment policy
national investment strategy
sector distribution of investment
ownership distribution of investment
causes of investment
economic growth
JEL: 
E22
E60
L52
O11
O25
O53
Document Type: 
Working Paper

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