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Economic Reform, Growth and Convergence in China

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Author Info
Esfandiar Maasoumi
Le Wang

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Abstract

In this paper, we propose a new concept of convergence which is based on the metric entropy measure recently proposed by Granger et al. (2004, Journal of Time Series Analysis 25, 649--69) to investigate economic convergence in China. This entropy measure compares whole distributions of growth rates across individual provinces. Separately, based on this same entropy measure, we also implement cluster analysis to identify any convergence clubs. Our four main conclusions are: (1) while we certainly reject the null hypothesis that there exists a nationwide convergence, we do find that there exist convergence clubs for both the pre- and post-reform periods, (2) we find a number of very small convergence clubs. In particular, there are eleven and six convergence clubs for the pre- and post-reform periods, respectively, (3) in comparing the number and size of convergence clubs for both the pre- and post-reform periods, it could be argued that the extent of convergence is more prevalent during the post-reform period than during the pre-reform period and (4) convergence groups cannot be simply characterized by such unique features as region or the extent of policy preference level that are commonly used in the literature. Copyright Royal Economic Society 2008

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1368-423X.2008.00233.x
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Publisher Info
Article provided by Royal Economic Society in its journal Econometrics Journal.

Volume (Year): 11 (2008)
Issue (Month): 1 (03)
Pages: 128-154
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Handle: RePEc:ect:emjrnl:v:11:y:2008:i:1:p:128-154

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  1. repec:att:wimass:1919983 is not listed on IDEAS
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  7. Anuradha Dayal-Gulati & Aasim M. Husain, 2000. "Centripetal Forces in China's Economic Take-off," IMF Working Papers 00/86, International Monetary Fund.
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  9. Baumol, William J, 1986. "Productivity Growth, Convergence, and Welfare: What the Long-run Data Show," American Economic Review, American Economic Association, vol. 76(5), pages 1072-85, December. [Downloadable!] (restricted)
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  12. D Quah, 1997. "Empirics for Growth and Distribution," CEP Discussion Papers 0324, Centre for Economic Performance, LSE. [Downloadable!]
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  15. Hirschberg, J.G. & Maasoumi, E. & Slottje, D.J., 2001. "Clusters of Attributes and Well-Being in the US," Department of Economics - Working Papers Series 778, The University of Melbourne. [Downloadable!]
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  16. Xu, Lixin Colin & Zou, Heng-fu, 2000. "Explaining the changes of income distribution in China," China Economic Review, Elsevier, vol. 11(2), pages 149-170, December. [Downloadable!] (restricted)
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  20. Borland, Jeff & Hirschberg, Joe & Lye, Jenny, 2001. "Data Reduction of Discrete Responses: An Application of Cluster Analysis," Applied Economics Letters, Taylor and Francis Journals, vol. 8(3), pages 149-53, March. [Downloadable!] (restricted)
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  21. C. W. Granger & E. Maasoumi & J. Racine, 2004. "A Dependence Metric for Possibly Nonlinear Processes," Journal of Time Series Analysis, Blackwell Publishing, vol. 25(5), pages 649-669, 09. [Downloadable!] (restricted)
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