November 19, 2015
Virtues and Pitfalls of China's State-Driven Growth
by Yukon Huang
The generally accepted view is that well-functioning institutions and a less interventionist involvement of the state are essential to promoting efficiency and growth. But if so, how does one explain why China—with its weak governance structures and seemingly overbearing presence of the state—was able to grow at double-digit rates for more than three decades before its current economic slowdown?