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PRC Industrial Policies Postdate Rather Than Lead Economic Activity

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  • Carsten A. Holz
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.

Suggested Citation

  • Carsten A. Holz, 2020. "PRC Industrial Policies Postdate Rather Than Lead Economic Activity," CESifo Working Paper Series 8097, CESifo.
    • Handle: RePEc:ces:ceswps:_8097
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    References listed on IDEAS

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