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Hao, Xu ; Marlon, Seror ; Marlon, Seror ; Stephan, Heblich ; Stephan, Heblich ; Yanos, Zylberberg ; Yanos, Zylberberg. (2019) Industrial clusters in the long run: evidence from Million-Rouble plants in China.
In: CESifo Working Paper Series. RePEc:ces:ceswps:_7682.
Full description at Econpapers
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The Million-Rouble plants brought about a large technological shift. The sheer size of the investments and their focus on industry was meant to transform China from a subsistence-farming to an industrial economy. The average plant constituted an investment of 130,000,000 yuan or 19,500,000 Soviet roubles in 1957, which is the equivalent of $156,000,000 in 2010 U.S. dollars. Some plants “produced many new 33 Construction work began on average in 1954 and was completed in 1958. Mean start and end dates by sector are provided in Table 2.
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