Structural Changes in Chinese Industrial Sector: Lessons for Emerging Economies

Mete Han Yağmur and Gencay Karakaya
Additional contact information
Mete Han Yağmur: İstanbul Tekni̇k University
Gencay Karakaya: İstanbul Commerce University

Journal of Finance Letters (Maliye ve Finans Yazıları), 2018, vol. 33, issue 110, 161-174

Abstract: After changing its closed economy structure in favor of an outward oriented economic growth model in 1978, China has demonstrated an outstanding growth performance during the past 40 years. When China first opened up its economy to international markets, thanks to abundant and cheap labor force it had, the country attracted vast amounts of foreign direct investment and enjoyed high growth rates. As China strategically directed the ensuing income into new capital formation and research and development activities, it transformed its industrial sector into a high technology manufacturer. Increased competitive power of Chinese manufacturers in international markets in return enabled China to maintain high growth rates. Analyzing the structural changes in Chinese industrial sector would provide useful lessons for countries that experience early de-industrialization such as India, and countries that are in the middle income trap, such as Turkey.

Keywords: Chinese economy; Industrial policies; R&D investments; sustainable development (search for similar items in EconPapers)
JEL-codes: G1 G2 G21 (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
https://dergipark.org.tr/tr/download/article-file/571235 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:acc:malfin:v:33:y:2018:i:110:p:161-174

DOI: 10.33203/mfy.451350

Access Statistics for this article

Journal of Finance Letters (Maliye ve Finans Yazıları) is currently edited by Süleyman Kale

More articles in Journal of Finance Letters (Maliye ve Finans Yazıları) from Maliye ve Finans Yazıları Yayıncılık Ltd. Şti.
Bibliographic data for series maintained by Süleyman Kale ().