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p. 1319. Big Push industrializationlocked

  • Robert C. Allen

Abstract

‘Big Push industrialization’ describes the way some countries were able to grow so fast and catch up with the West in the 20th century. It was by constructing all of the elements of an advanced economy — steel mills, power plants, vehicle factories, cities, and so on — simultaneously. This ‘Big Push’ industrialization raises difficult problems since everything is built ahead of supply and demand. Every investment depends on faith that the complementary investments will materialize. The success of the grand design requires a planning authority to coordinate the activities and ensure that they are carried out. The case studies of the economies of the Soviet Union, Japan, and China are discussed.

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