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In China, aggregate investment levels have been high and the cycles of investment growth rate have been remarkable. In order to reveal the mechanisms which drive investment hunger and cycles, this book develops an integrated growth-cycle framework which integrates the standard theory of socialist economies, the distributive barrier-constrained growth theory of developing economies, and the recent technical progresses in the western business cycle theory. It also analyzes the evolutionary dynamics of China's state investment system and the policy trade-off between industrial expansion and agricultural development.
About the author
LAIXIANG SUN is an Economist at the International Institute for Applied Systems Analysis, Laxenburg, Austria and Senior Research Fellow at the Guanghua School of Management, Peking University. He is the author of
The Evolutionary Dynamics of China's Small and Medium-Sized Enterprises in the 1990s
and his articles have been published in the
Journal of Comparative Economics, Comparative Economic Studies
and other international refereed journals.
Summary
In China, aggregate investment levels have been high and the cycles of investment growth rate have been remarkable. In order to reveal the mechanisms which drive investment hunger and cycles, this book develops an integrated growth-cycle framework which integrates the standard theory of socialist economies, the distributive barrier-constrained growth theory of developing economies, and the recent technical progresses in the western business cycle theory. It also analyzes the evolutionary dynamics of China's state investment system and the policy trade-off between industrial expansion and agricultural development.
