Object

Title: Endogenous institutions and economic growth: evidence from China

Title in english:

Instytucje endogeniczne a wzrost gospodarczy na przykładzie Chin

Creator:

Li, Zhao ; Chu, Yujing

Description:

Financial Sciences = Nauki o Finansach, 2020, vol. 25, no. 1, s. 54-77

Abstrakt:

The paper examined how economic institutions affect capital accumulation in the private firms sector through the finance sector and the operation objectives of different ownership firms in a socialist market economy with Chinese characteristics, which extended the neo-classical economic growth method. The Author found that economic institutions were the main factors affecting the efficiency of capital allocation between the private sector and the state-owned sector. Compared with the state-owned sector, economic institutions lead private sector to a decrease in loans and government subsidies through finance sector, and to an increase in its production costs. The evidence suggests that private firms make efforts to hire special human capital to improve economic institutions as a substitute for political capital. Considering that the strategy of China’s economic institutions reform was a national promotion which followed after a regional pilot, this paper found that the economic institutions’ reform pilot areas had a more significant impact on economic growth

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2020

Resource Type:

artykuł

Resource Identifier:

doi:10.15611/fins.2020.1.05 ; oai:dbc.wroc.pl:75984

Language:

eng

Relation:

Financial Sciences = Nauki o Finansach, 2020, vol. 25, no. 1

Access Rights:

Dla wszystkich zgodnie z licencją

License:

CC BY-NC-ND 3.0 PL

Location:

Uniwersytet Ekonomiczny we Wrocławiu

Group publication title:

Nauki o Finansach = Financial Sciences

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