The Neo-institutional Economics Analysis for the Great Development of China' s Wind-power Industry

This paper finds that key point of of China' s industry is wind-power concession tendering system implemented by central government.By approaches of the long-term contractual relationship and the vertical integration, tendering system greatly reduces transaction costs among various stakeholders in industry chain, thus promoting China' s industry to have a great development.Therefore,the great development of China' s industry is essential not result of marketing,but organized operation under central government' s domination.In order to further promote China' s industry to have a greater development,the central government,on one hand,needs to formulate additional supportive rather than interventional industrial policies to promote competitive development of production market,and on other hand,needs to speed up construction of new institutions to get rid of benefit game barriers in electric power consumption market.