ABSTRACT
The aim of this paper is to demonstrate that the China’s economic growth can be understood by the cyclic emergence of institutions that delimit a continuous reorganization of activities between state-owned and private sectors of the economy. In this regard, the prompt Chinese reaction to the 2009 crisis showed not only the higher level of the state’s action not only towards the control of the great industry and great finance, but also the “socialization of investment”. For this purpose, we have developed an analytical approach based on the contributions of John M. Keynes, Alexander Gerschenkron, Ignacio Rangel and Albert Hirschman, which allow for a more comprehensive understanding of the Chinese development process
KEYWORDS:
China; development; socialization of investment; institutions; economic cycles