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ID:
147538
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| Summary/Abstract |
In recent years, the “China model” of development has been proposed and promoted. Some proponents of the China model even suggest that there emerges a “Beijing Consensus” which has a high possibility of replacing the Washington Consensus. This article argues that there exist at least two China models, which have contrasting features with distinctive roles played by entrepreneurs within China’s local governments. In the earlier years of the reform era, the role of market was expanding, and local governments mainly played an enabling role in facilitating the growth of non-state sectors and in following the demand-driven growth path to expand local tax bases under the revenue-sharing system. After 1998 onwards, the current government-led investment-driven development model gradually emerged with local governments’ focus evidently shifting towards rent-seeking and monopolising financial resources for their own investment projects. The article discusses the incentive compatibility issues associated with local governments under the two China models and documents in detail local governments’ entrepreneurship in investment financing.
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| 2 |
ID:
147541
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| Summary/Abstract |
Decentralisation reform in China has provided a foundation that pitches local government officials against each other in their pursuit of individual career goals and tasks to meet their annual growth targets. To deliver public goods to their constituencies, local officials turn themselves into entrepreneurs and compete through entrepreneurial policies or innovative implementation of central policies. Different from corporatism’s prediction, local government entrepreneurship does not necessarily provide long-term macroeconomic planning or improve long-term regional economic performance. Also, unlike federalism’s prediction, local government entrepreneurship does not always improve responsible fiscal management, and neither are all local projects revenue-driven. Based on the choice-theoretic tradition, the perspective of administrative choice provides a fuller understanding of why and how local government entrepreneurship takes place in China.
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| 3 |
ID:
147540
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| Summary/Abstract |
While it is widely agreed that local governments played a critical role in infrastructure building and industrial development in China—the key factors in its “economic miracle”—the relationship between local government entrepreneurship and the development of specialised markets through which products made in China are marketed to buyers worldwide is however not well understood. This article focuses on the rapid evolution of what is now the world’s largest wholesale market—the Yiwu Wholesale Market for Consumer Goods (Yiwu Market) in Zhejiang province—and the key role played by local government at different junctures in its formation, development and continual upgrading. The fact that a global commerce hub such as Yiwu Market arose in an area with no discernible natural competitive advantage indicates that many prevailing theories on competitive advantage in locational decision-making may have overlooked the central role local governments played in catalysing local economic development. This analysis underlines the fact that local government entrepreneurship can be a major source of competitive advantage for firms.
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| 4 |
ID:
147537
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| Summary/Abstract |
While local government entrepreneurship has long been regarded as one of the main drivers of China’s economic growth, it has increasingly been recognised as a potential source of a set of harmful policy consequences in recent years, such as rising government debt crises, pervasive corruption and environmental degradation. These criticisms have prompted questions about what types of entrepreneurship might be more desirable, and which incentive structures might be necessary to pave the way for the right kind of local government entrepreneurship. The articles in this special issue focus on new developments in local government entrepreneurship from a public policy perspective. Collectively, they explore the normative dimensions of local government entrepreneurship in China, with an emphasis on necessary policy changes to shape local government entrepreneurship in contributing to economic growth as well as other key policy objectives.
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| 5 |
ID:
142792
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| Summary/Abstract |
This paper focuses on a new phenomenon in China: local government entrepreneurship in constructing infrastructure and attracting investment has been diffused from more developed to less developed regions. We argue that this geographically diffused phenomenon is part of a larger attempt by the Chinese Communist Party (CCP) to facilitate advancement of less developed regions
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