Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/215099 
Year of Publication: 
2020
Series/Report no.: 
CESifo Working Paper No. 8097
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
Industrial policies are widely credited with upgrading the economic structure of the People's Republic of China (PRC) and advancing its economy towards and beyond the current technological frontier. Yet the data suggest that the PRC's economy-wide investment patterns—with investment embodying technological progress—are largely divorced from industrial policies, and, if anything, predate them. The significant shifts in investment across sectors and ownership forms that have taken place since the early 2000s are driven more by profitability considerations and private entrepreneurship than by government policies.
Document Type: 
Working Paper
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