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Object Description
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| Title | Cluster-based industrialization in China |
| Subtitle | Financing and performance |
| Author |
Long, Cheryl Zhang, Xiaobo |
| ORCID | http://orcid.org/0000-0002-4981-9565 Zhang, Xiaobo |
| Year | 2009 |
| Abstract | Using firm-level data from China's two recent censuses (Industry Census 1995 and Economic Census 2004) and a new measure of clustering (industry proximity), we show that China's rapid industrialization is marked by increased clustering. A higher degree of clustering is further shown to be associated with greater export growth and higher total factor productivity. We also find supporting evidence that clustering helps ease the credit constraints facing many small and medium enterprises through two mechanisms: (1) within a cluster, finer division of labor lowers the capital barriers to entry and (2) closer proximity makes the provision of trade credit among firms easier. Since both mechanisms reduce the need for external financing, a larger number of firms=and thus greater competition-emerge within clusters, which helps explain the higher levels of exports and total factor productivity. This cluster-based industrialization model fit particularly well with China's comparative advantage during its initial stage of takeoff, which was marked by scarcity of capital and an inefficient financial system. Hence our findings may be helpful to other developing countries with similar factor endowment patterns that are considering cluster-based development strategies. |
| Series Name | IFPRI Discussion Paper |
| Series Number | 937 |
| Publisher | International Food Policy Research Institute (IFPRI) |
| Place of publication | Washington, D.C. |
| Language | English |
| Record Type | Discussion paper |
| Peer Reviewed - PR or Non-PR | Non-PR |
| Subject - country location |
CHINA EAST ASIA |
| Subject - keywords |
Clustering Industrialization Finance export productivity Development strategies |
| IFPRI Descriptors |
IFPRI1 GRP32 |
| IFPRI Division | DSGD |
| Access Rights | Open Access |
| LOC call number | IFPRIDP00937 |
| Physical description | 26 pages |
| IFPRI Web link | http://www.ifpri.org/publication/cluster-based-industrialization-china |
| Requests | mailto:ifpri-library@cgiar.org |
| CONTENTdm file name | 16657.cpd |
| Date cataloged | 2017-01-19 |
| Date modified | 2017-01-19 |
| OCLC number | 778453675 |
| CONTENTdm number | 16656 |
Description
| Title | ifpridp00937 1 |
| Access Rights | Open Access |
| Requests | mailto:ifpri-library@cgiar.org |
| CONTENTdm file name | 16625.pdfpage |
| Date cataloged | 2015-03-06 |
| Date modified | 2015-03-06 |
| CONTENTdm number | 16624 |
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