2017
DOI: 10.24294/jipd.v1i1.28
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The new structural economics: patient capital as a comparative advantage

Abstract: The world economy needs a growth-lifting strategy, and infrastructure financing seems to hold the key. Based on the New Structural Economics (Lin, 2010; we discuss the heterogeneity of capital focusing on the long-term versus short-term orientation (STO). Traditional neoliberalism assumes that capital is homogenous, complete capital account liberalization is "beneficial". However, previous studies have found evidence of long-term orientation (LTO) in the culture of many Asian economies (Hofstede, 1991). In thi… Show more

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Cited by 19 publications
(5 citation statements)
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“…The proposal to consider a strict relation to relatively delayed public orientations and governmental actions should match the timeliness achievable by the agents on the market. In this sense, the sacrifice of individual budget, although pervasive, would prove observably valid in terms of common objective-driven logic for the long-term goal of survival (Lin & Wang, 2017).…”
Section: Critical Discussionmentioning
confidence: 99%
“…The proposal to consider a strict relation to relatively delayed public orientations and governmental actions should match the timeliness achievable by the agents on the market. In this sense, the sacrifice of individual budget, although pervasive, would prove observably valid in terms of common objective-driven logic for the long-term goal of survival (Lin & Wang, 2017).…”
Section: Critical Discussionmentioning
confidence: 99%
“…The articulation of the space economy, Sharma (2016) remarks, can "provide alternative employment opportunities and take advantage of demographic dividend" which is imperative in view of a massive labor migration abroad and an increasing pace of hill-Tarai migration. Generally, it seems plausible that infrastructural provisions can have "disproportionate effect" on the income and welfare of the poor (Lin and Wang, 2017). Therefore, the Chinese projects can be expected to have an equalizing effect, regionally and individually.…”
Section: Implication For the Accumulation Of Capital And The Geograph...mentioning
confidence: 99%
“…Because investment projects involving the construction and modernisation of a transport, energy or communication networks are by their nature long-term and capital intensive investments, they require patient capital which China can provide. Through the BRI, China has just started to use its comparative advantage in the form of patient capital to help to release infrastructural bottlenecks along the Silk Routes (Lin and Wang, 2017a;Wang, 2017b, Kaplan, 2018). Chinese loans have helped to finance large-scale investments in infrastructure, energy and mining in many developing countries.…”
Section: Literature Reviewmentioning
confidence: 99%