An Austrian economic perspective on failed Chinese wind power development

Jonas Grafström

No 336, Ratio Working Papers from The Ratio Institute

Abstract: China is currently hailed as the world’s premier wind power producer. However, despite twice the installed wind power capacity compared to the United States in 2015, the Chinese installed capacity produces less power. Grid connectivity is remarkably low, Chinese firms have few international granted patents, and export is minimal even though production capacity far exceeds the domestic production needs. Using the tools of Austrian economics, failures in China's wind power development from 1980-2016 is documented and analysed. From a theoretical standpoint, both a planning problem and an entrepreneurial problem is evident where governmental policies create misallocation of resources and a hampering of technological development.

Keywords: China; Wind power; Economic Planning; Austrian school; Technology; Energy (search for similar items in EconPapers)
JEL-codes: O32 P21 Q55 Q58 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2020-08-20
New Economics Papers: this item is included in nep-cna, nep-ene and nep-hme
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