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Evaluating the Conditions for China's 4th Industrial Revolution Plan: A Neo-Schumpeterian Analysi

Posted on:2017-07-21Degree:Ph.DType:Thesis
University:Singapore Management University (Singapore)Candidate:Chan, Hing Lee HenryFull Text:PDF
GTID:2479390017961528Subject:Economics
Abstract/Summary:
After 33 years (1979-2011) of close to double digit average annual economic growth, the Chinese economy decelerated to a mid-high single digit growth of approximately 7% per year since 2012. The country is currently facing the typical economic transition challenge of moving from being a high-middle income to high income economy. In response to this economic transition, the government launched an industrial innovation program that corresponds to the 4th Industrial Revolution in 2015-Made in China 2025, hoping to stabilize and rejuvenate China's growth momentum through innovation. This thesis examines the pre-conditions for the successful implementation of this plan using the three-levels analysis framework of neo-Schumpeterian Economics -micro, meso, and macro. The thesis examines the rationale of using neo-Schumpeterian Economics in the study, rather than the conventional Solow Model or any of its variants. It also discusses the advantages of using neo-Schumpeterian framework over the New Structural school promoted by prominent Chinese economist, Justin Lin. At the micro-level, the thesis looks at whether the country possesses the necessary human capital, entrepreneurship, innovation, and execution capabilities to implement the plan. For any new industries to succeed in a country, these factors are the necessary micro-level pre-conditions under neo-Schumpeterian Economics.
Keywords/Search Tags:Neo-schumpeterian, Plan, Industrial
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