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Clusters as an Instrument for Industrial Policy: The Case of China

In: The Industrial Policy Revolution I

Author

Listed:
  • Xiaobo Zhang

    (Peking University
    International Food Policy Research Institute (IFPRI))

Abstract

Developing countries face a long list of seemingly insurmountable obstacles to industrialization, including but not limited to underdeveloped financial systems and a lack of formal institutions. Since pooled resources are necessary to build factories and to purchase manufacturing equipment, financial development has been widely regarded as a key instrument for industrialization (Goldsmith, 1969; Raj an and Zingales, 1998). Entrepreneurs are afraid to make business deals unless the underlying contracts are trustworthy. Thus building a sound legal system is also crucial for ensuring the functioning of market economy (North, 1990). A common view among donors and policy makers is the necessity of creating these fundamental institutions.

Suggested Citation

  • Xiaobo Zhang, 2013. "Clusters as an Instrument for Industrial Policy: The Case of China," International Economic Association Series, in: Joseph E. Stiglitz & Justin Yifu Lin (ed.), The Industrial Policy Revolution I, chapter 4, pages 227-243, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-137-33517-3_15
    DOI: 10.1057/9781137335173_15
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    Cited by:

    1. Daniel Poon, 2014. "China’s Development Trajectory: A Strategic Opening for Industrial Policy in the South," UNCTAD Discussion Papers 218, United Nations Conference on Trade and Development.
    2. Fan, Xiao-chao & Wang, Wei-qing, 2016. "Spatial patterns and influencing factors of China׳s wind turbine manufacturing industry: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 54(C), pages 482-496.
    3. Ali, M., 2018. "Potential of the Agricultural Value Chain Improvement in Pakistan," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 275951, International Association of Agricultural Economists.

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