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PublicationArticle (with peer review)

An Anatomy of Failure – Wind Power Development in China

Abstract

China is currently the world’s largest installer of wind power. However, with twice the installed wind capacity compared to the United States in 2015, the Chinese produce less power. The question is: Why is this the case? This article shows that Chinese grid connectivity is low, Chinese firms have few international patents, and that export is low even though production capacity far exceeds domestic production needs. Using the tools of Austrian economics, China’s wind power development from 1980 to 2016 is documented and analyzed from three angles: (a) planning and knowledge problems, (b) unproductive entrepreneurship, and (c) bureaucracy and government policy. From a theoretical standpoint, both a planning problem and an entrepreneurial problem are evident where governmental policies create misallocation of resources and a hampering of technological development.

Grafström, J. (2021). An Anatomy of Failure – Wind Power Development in China. Quarterly Journal of Austrian Economics, 24(2), 317-347.

Details

Author
Grafström, J.
Publication year
2021
Published in

Quarterly Journal of Austrian Economics

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  • Bild av Jonas Grafström, medarbetare på Ratio
    Ph.D. and vice CEO

    Jonas Grafström

    +46703475854jonas.grafstrom@ratio.se

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