China's Integration with the World : Development as a Process of Learning and Industrial Upgrading

Lin, Justin Yifu ; Wang, Yan

Washington, DC:World Bank

关键词: ACCOUNTING STANDARDS;    ADMINISTRATIVE CONTROLS;    AGRICULTURE;    ALLOCATION;    BACKED SECURITIES;   

DOI  :  10.1596/1813-9450-4799
RP-ID  :  WPS4799

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The process of development is full ofuncertainties, especially if it is a process of transitionfrom a planned economy to a market oriented one. Because ofuncertainties and country specificity, development must be aprocess of learning, selective adaptation, and industrialupgrading. This paper attempts to distill lessons fromChina's reform and opening up process, and investigatethe underlying reasons behind China's success in tradeexpansion and economic growth. From its beginnings withhome-grown and second-best institutions, China has embarkedon a long journey of reform, experimentation, and learningby doing. It is moving from a comparative advantage-defyingstrategy to a comparative advantage-following strategy. Thecountry is catching up quickly through augmenting its factorendowments and upgrading industries; but this has been onlypartially successful. Although China is facing severaldifficult challenges - including rising inequality, anindustrial structure that is overly capital and energyintensive, and related environmental degradation - it isbetter positioned to tackle them now than it was 30 yearsago. This paper reviews the drivers behind China'slearning and trade integration and provides both positiveand negative lessons for developing countries with diversenatural endowments, especially those in Sub-Saharan Africa.