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Mild Government Failure / Shang-Jin Wei, Jianhuan Xu, Ge Yin, Xiaobo Zhang.
- Format:
- Book
- Author/Creator:
- Wei, Shang-Jin.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w31178.
- NBER working paper series no. w31178
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2023.
- Summary:
- A relatively mild form of government failure - for example, bureaucrats can count but do not differentiate quality - can significantly affect the efficacy of industrial policy. We investigate this idea in the context of China's largest pro-innovation industrial policy using a structural model. We find that the return to the subsidy program is -19.7\% (but would be 7.8\% if the mild government failure can be removed). Furthermore, the welfare loss is exacerbated by patent trade.
- Notes:
- Print version record
- April 2023.
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