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China's integration with the world : development as a process of learning and industrial upgrading

Author: Justin Yifu Lin; Yan Wang; World Bank.
Publisher: [Washington, D.C] : World Bank, 2008.
Series: Policy research working paper, 4799; World Bank E-Library Archive
Edition/Format:   Computer file : EnglishView all editions and formats
Summary:
"The process of development is full of uncertainties, especially if it is a process of transition from a planned economy to a market oriented one. Because of uncertainties and country specificity, development must be a process of learning, selective adaptation, and industrial upgrading. This paper attempts to distill lessons from China's reform and opening up process, and investigate the underlying reasons behind  Read more...
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Details

Material Type: Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Justin Yifu Lin; Yan Wang; World Bank.
OCLC Number: 874238954
Notes: Erscheinungsjahr in Vorlageform:[2008].
Description: 1 online resource.
Series Title: Policy research working paper, 4799; World Bank E-Library Archive
Responsibility: Justin Yifu Lin, Yan Wang.

Abstract:

"The process of development is full of uncertainties, especially if it is a process of transition from a planned economy to a market oriented one. Because of uncertainties and country specificity, development must be a process of learning, selective adaptation, and industrial upgrading. This paper attempts to distill lessons from China's reform and opening up process, and investigate the underlying reasons behind China's success in trade expansion and economic growth. From its beginnings with home-grown and second-best institutions, China has embarked on a long journey of reform, experimentation, and learning by doing. It is moving from a comparative advantage-defying strategy to a comparative advantage-following strategy. The country is catching up quickly through augmenting its factor endowments and upgrading industries; but this has been only partially successful. Although China is facing several difficult challenges - including rising inequality, an industrial structure that is overly capital and energy intensive, and related environmental degradation - it is better positioned to tackle them now than it was 30 years ago. This paper reviews the drivers behind China's learning and trade integration and provides both positive and negative lessons for developing countries with diverse natural endowments, especially those in Sub-Saharan Africa. "--World Bank web site.

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