2019 Fiscal Year Annual Research Report
China's State Capitalism and Its Implications for Growth and Productivity
| Project/Area Number |
17K03678
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| Research Institution | Hitotsubashi University |
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Principal Investigator |
ウー ハリー・シァオイン 一橋大学, 経済研究所, 非常勤研究員 (90571464)
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| Project Period (FY) |
2017-04-01 – 2020-03-31
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| Keywords | China’s state capitalism / Institution / Resource misallocation / Productivity |
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| Outline of Annual Research Achievements |
This project aims to theoretically explain and empirically investigate the special role of the state in China's economic growth in a unique authoritarian system that is characterized by political centralization and economic decentralization. With limited funding and time, albeit challenging theoretical and data problems, it has made some significant progresses. In a preliminary new theoretical attempt, I focused on how externalities, caused by institutional changes, may affect an economy's productivity performance, and particularly how government interventions and involvements in resource allocation may take a heavy toll on productivity in the case of China. In an empirical endeavor, I further extended the China industrial productivity accounts data that I developed earlier and examined China’s post-reform productivity performance over 40 years for a new interpretation following my theoretical thinking. The research results have been published as journal articles and book chapters as well as preliminary presentations in various workshops and conferences.
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