The Driving Forces behind China’s Growth
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INVESTIGACIONMetadades
Títol
The Driving Forces behind China’s GrowthData de publicació
2010Editor
WileyISSN
0967-0750Cita bibliogràfica
Economics of Transition (2011), 19, 1, p.79-124Tipus de document
info:eu-repo/semantics/articleVersió de l'editorial
http://onlinelibrary.wiley.com/maintenance/?genre=journal&issn=0967-0750Versió
info:eu-repo/semantics/submittedVersionParaules clau / Matèries
Resum
The main objective of this paper is to disentangling the determinants of the Chinese economic growth that occurred from 1965 to 2000. We have explored, first, the time series properties of the growth rates of GDP and ... [+]
The main objective of this paper is to disentangling the determinants of the Chinese economic growth that occurred from 1965 to 2000. We have explored, first, the time series properties of the growth rates of GDP and labour productivity with an extended battery of unit root tests. Then, in a multivariate setting, we use the VAR model methodology to provide evidence that physical and human capital accumulation, R&D expenditure, openness and competitiveness are the main drivers of output, labour productivity and total factor productivity growth in the long run. Additionally, we also show that although China has not yet converged to its long-run equilibrium, it is in the process of catching up. These results are more consistent with some versions of the endogenous growth models than with Solow-type models of growth, since they support active strategies of economic policy to stimulate economic growth and catching up with more advanced economies. [-]
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The definitive version is available at www3.interscience.wiley.com
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/openAccess
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/openAccess
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