After 33 years (1979-2011) of close to double digit average annual economic growth, the Chinese economy decelerated to a mid-high single digit growth of approximately 7% per year since 2012. The country is currently facing the typical economic transition challenge of moving from being a high-middle income to high income economy. In response to this economic transition, the government launched an industrial innovation program that corresponds to the 4th Industrial Revolution in 2015-Made in China 2025, hoping to stabilize and rejuvenate China’s growth momentum through innovation. This thesis examines the pre-conditions for the successful implementation of this plan using the three-levels analysis framework of neo-Schumpeterian Economics -micro, meso, and macro. The thesis examines the rationale of using neo-Schumpeterian Economics in the study, rather than the conventional Solow Model or any of its variants. It also discusses the advantages of using neo-Schumpeterian framework over the New Structural school promoted by prominent Chinese economist, Justin Lin. At the micro-level, the thesis looks at whether the country possesses the necessary human capital, entrepreneurship, innovation, and execution capabilities to implement the plan. For any new industries to succeed in a country, these factors are the necessary micro-level pre-conditions under neo-Schumpeterian Economics.
4th Industrial Revolution, high speed rail, SIPO patent, neo-Schumpeterian analysis, Made in China 2025, WIPO patent
PhD in Business (General Management)
Asian Studies | International Economics
TAN, Wee Liang
CHAN, Hing Lee Henry.
Evaluating the conditions for China’s 4th Industrial Revolution plan: A neo-Schumpeterian analysis. (2016). Dissertations and Theses Collection.
Available at: http://ink.library.smu.edu.sg/etd_coll_all/8
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Available for download on Tuesday, June 19, 2018