Is the state-led industrial restructuring effective in transition China? Evidence from the steel sector
以中国钢铁行业1980年代末至2000年代初的结构演变为例，发现政府推动的产业整合大多不成功，原因在于中国官僚体系的碎片化和不协调，与日韩的制度基础存在根本差异。
During the reform era, the Chinese government has been carrying out strategic industrial policies modelled on those in post-war Japan and South Korea, in the hope of transforming its highly fragmented manufacturing sector into one that comprises a small number of internationally competitive big businesses. Using the evolution of the Chinese steel industry structure from the late 1980s to the early 2000s as a case in point, this paper finds that the Chinese government's consolidation attempts have, by and large, not been very successful. The disappointing policy outcome is interpreted by a detailed examination of the industry policy mechanism in China. It is concluded that the institutional framework of the Chinese state differs from its counterparts in Korea and Japan in some fundamental aspects. Among these, the fragmented and uncoordinated Chinese bureaucracy contributes significantly to the inefficacy of policy implementation.