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Studies on China's Special Economic Zones 2Internal Causes for Shenzhen’s Industrial Development and Structural Evolution: An Explanation from the Perspective of Institutional Change

Studies on China's Special Economic Zones 2: Internal Causes for Shenzhen’s Industrial... [As the typical model of China’s special economic zones, Shenzhen is special in industrial development, the mode, path and results of its structural evolution: there is a rapid industrial take-off; the traditional type of agriculture is rapidly shrinking; the industrialization process is exceptional; the supporting factors for industrial development are unique. This chapter takes the perspective of institutional change to analyze the internal causes of Shenzhen’s industrial development and draw the conclusion that Shenzhen’s industrial development and structural evolution are not governed by the general law which works in international special economic zones—the international special economic zones obtain the driving force for development by avoiding trade and investment barriers and leveraging the comparative advantages from trade freedom and free combination of industrial factors; industrial development originates from the effect of the special policies and reflects a free flow of industrial factors and goods and the effect of avoiding investment and trade barriers; Shenzhen’s driving force for industrial development comes from the sufficient incentives imposed by the fresh market system on the owners of industrial factors under the extensive planning system; the sharp contrast between the “sudden” incentives developed in a short time and severely insufficient incentives under the planning system produces a huge industrial growth effect. This is the primary cause for Shenzhen’s industrial development and is fundamentally different from the international export processing zones.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Studies on China's Special Economic Zones 2Internal Causes for Shenzhen’s Industrial Development and Structural Evolution: An Explanation from the Perspective of Institutional Change

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Publisher
Springer Singapore
Copyright
© Social Sciences Academic Press and Springer Nature Singapore Pte Ltd. 2019
ISBN
978-981-13-6674-1
Pages
11 –22
DOI
10.1007/978-981-13-6675-8_2
Publisher site
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Abstract

[As the typical model of China’s special economic zones, Shenzhen is special in industrial development, the mode, path and results of its structural evolution: there is a rapid industrial take-off; the traditional type of agriculture is rapidly shrinking; the industrialization process is exceptional; the supporting factors for industrial development are unique. This chapter takes the perspective of institutional change to analyze the internal causes of Shenzhen’s industrial development and draw the conclusion that Shenzhen’s industrial development and structural evolution are not governed by the general law which works in international special economic zones—the international special economic zones obtain the driving force for development by avoiding trade and investment barriers and leveraging the comparative advantages from trade freedom and free combination of industrial factors; industrial development originates from the effect of the special policies and reflects a free flow of industrial factors and goods and the effect of avoiding investment and trade barriers; Shenzhen’s driving force for industrial development comes from the sufficient incentives imposed by the fresh market system on the owners of industrial factors under the extensive planning system; the sharp contrast between the “sudden” incentives developed in a short time and severely insufficient incentives under the planning system produces a huge industrial growth effect. This is the primary cause for Shenzhen’s industrial development and is fundamentally different from the international export processing zones.]

Published: Sep 21, 2019

Keywords: Institutional change; Industrial structure; Special economic zone; Export processing zone

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