1. The state gives an initial shove, marginalizing traditional elites, reforming basic
institutions, perhaps even subsidizing technology imports, and then withdraws its
hand. This withdrawal checks government failure problems.
2. Pyramidal business groups emerge to propel the big push. An undisputed controlling
shareholder focusing on the apex firm’s value, prevents hold up problems and
coordinates cross-industry subsidies, as group member firms tap public equity
markets to capitalize cascades of subsidiaries spanning all relevant industries. At
least to some extent, this echoes what a selfless central planner coordinating a big
push would do.