Changing Engines of Growth in China: From Exports, FDI and Marketization to Innovation and Exports
AbstractThis paper investigates the changing sources of growth in post-reform China. Using cross-province regressions, this paper finds that, in earlier periods, exports, foreign direct investment and marketization were significantly related to per capita income growth, whereas since the late 1990s, foreign direct investment and marketization have lost their significance and have been replaced by new sources of growth, such as innovation and knowledge, with only exports continuing to be important. This finding is robust after controlling for other variables representing other economic policies and provincial characteristics. We also tackle the possible endogeneity of innovation variables using the instrumental variables estimation method. Copyright (c) 2008 The Authors.
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Bibliographic InfoArticle provided by Institute of World Economics and Politics, Chinese Academy of Social Sciences in its journal China & World Economy.
Volume (Year): 16 (2008)
Issue (Month): 2 ()
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- Xing, Yuqing & Pradhananga, Manisha, 2013. "How Important are Exports and Foreign Direct Investment for Economic Growth in the People’s Republic of China?," ADBI Working Papers 427, Asian Development Bank Institute.
- Yanrui Wu, 2012. "R&D Behaviour in Chinese Firms," Economics Discussion / Working Papers 12-26, The University of Western Australia, Department of Economics.
- He, Xiyou & Mu, Qing, 2012. "How Chinese firms learn technology from transnational corporations: A comparison of the telecommunication and automobile industries," Journal of Asian Economics, Elsevier, vol. 23(3), pages 270-287.
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