Innovation, Growth, and Finance in Large UrbanAgglomerations

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According to statistics of the United Nations, theworld counted 4.07 billion people in 1975 and reached6.46 billion in 2005. It is expected that in 2030 theworld population will reach 8.19 billion. Byconsidering these figures the number of cities withfive million inhabitants and more, which was about 40in 2001, will rise up to 58 in 2015. This fast growthof world population causes international developmentinstitutions and world politics to face greatchallenges. In order to answer how governance andpublic policy affect urban and economic growtheconomists have developed theories of city systemssince the mid-1970s. How institutions can boost andrestrain both urban and economic development and howeconomic development and urbanization intersect withor define eachother, will be the main issues in thisbook. Starting with theories of systems of cities, this work demonstrates China's distinctive featuresas well as the outcomes of its urbanization.