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State versus Market: China's Infrastructure Investment / Shuoge Qian, Hong Ru, Wei Xiong.
- Format:
- Book
- Author/Creator:
- Qian, Shuoge.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w33725.
- NBER working paper series no. w33725
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2025.
- Summary:
- Amid rising global interest in state interventions, this paper examines how China's infrastructure investments--a key macroeconomic policy tool--affect firm productivity. We focus on a policy that encourages regional governments to improve market conditions for private enterprises. Our analysis shows that a better market environment amplifies infrastructure investment spillovers. However, the overall impact remains neutral or negative despite greater gains in industries with improved market access. These findings highlight the complex interplay between state intervention and market forces, raising concerns about the effectiveness of infrastructure investments in sustaining growth, especially in regions with weak market institutions.
- Notes:
- April 2025.
- Print version record
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