2013
DOI: 10.32609/0042-8736-2013-9-150-160
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What Is the Future of the Market Economy? <i>(On the Book by Justin Yifu Lin “The Quest for Prosperity: How Developing Economies Can Take Off”)</i>

Abstract: According to the opinion of Chinese economist J. Y. Lin, industrial structure of economy is endogenously determined by factors of production. Its effective operation is possible only under the influence of market forces. The main role of the government is to target the strategic support for specific industries with comparative advantages, as well as to improve the infrastructure.

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“…It uses a strategy of comparative advantage, which makes it possible to avoid the poor fate of the catch-up path and take advantage of opportunities for a breakthrough. According to Chinese economist J. I. Lin, the main function of the state in this case should be strategic targeted support for sectors of the economy with competitive advantages (which may be hidden), as well as upgrading of infrastructure (Antipina, 2013 Highlighting this domestic feature-unchanging fidelity to the traditional approach-it should also be emphasized that such strong adherence to stereotyped principles of substantiation and selection of the most important political decisions are by no means unique to Russia. It cannot be ruled out that the political governance systems of all states are characterized by a similar pattern, the meaning of which lies in the fact that in any country for quite long periods, whenever faced with new tasks, old national strategies are reproduced.…”
Section: The Role Of the State In Development: Relationship Of Genera...mentioning
confidence: 99%
“…It uses a strategy of comparative advantage, which makes it possible to avoid the poor fate of the catch-up path and take advantage of opportunities for a breakthrough. According to Chinese economist J. I. Lin, the main function of the state in this case should be strategic targeted support for sectors of the economy with competitive advantages (which may be hidden), as well as upgrading of infrastructure (Antipina, 2013 Highlighting this domestic feature-unchanging fidelity to the traditional approach-it should also be emphasized that such strong adherence to stereotyped principles of substantiation and selection of the most important political decisions are by no means unique to Russia. It cannot be ruled out that the political governance systems of all states are characterized by a similar pattern, the meaning of which lies in the fact that in any country for quite long periods, whenever faced with new tasks, old national strategies are reproduced.…”
Section: The Role Of the State In Development: Relationship Of Genera...mentioning
confidence: 99%