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Is China’s growth miracle over?

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  • Zheng Liu

Abstract

The recent slowdown in China?s growth has caused concern about its long-term growth prospects. Evidence suggests that, before 2008, China?s growth miracle was driven primarily by productivity improvement following economic policy reforms. Since 2008, however, growth has become more dependent on investment and overall growth has slowed. If the recent reform plans can successfully address the country?s structural imbalances, China could maintain a solid growth rate that might help smooth its transition to high-income status.

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  • Zheng Liu, 2015. "Is China’s growth miracle over?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco.
    • Handle: RePEc:fip:fedfel:00066
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    References listed on IDEAS

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    1. Barry Eichengreen & Donghyun Park & Kwanho Shin, 2012. "When Fast-Growing Economies Slow Down: International Evidence and Implications for China," Asian Economic Papers, MIT Press, vol. 11(1), pages 42-87, Winter/Sp.
    2. Xiaodong Zhu, 2012. "Understanding China's Growth: Past, Present, and Future," Journal of Economic Perspectives, American Economic Association, vol. 26(4), pages 103-124, Fall.
    3. Chang-Tai Hsieh & Peter J. Klenow, 2009. "Misallocation and Manufacturing TFP in China and India," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 124(4), pages 1403-1448.
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    Cited by:

    1. John C. Williams, 2015. "China, rates, and the outlook: may the (economic) force be with you," Speech 152, Federal Reserve Bank of San Francisco.
    2. Xu, Kun & Xu, Wenli, 2015. "中国政府消费支出对经济波动的传导机理分析 [Study on Influential Mechanism Between Government Expenditure of Consumption and Economic Fluctuation]," MPRA Paper 70994, University Library of Munich, Germany, revised Dec 2015.
    3. Tomoyuki Iida & Kanako Shoji & Shunichi Yoneyama, 2018. "What Drives China's Growth? Evidence from Micro-level Data," Bank of Japan Working Paper Series 18-E-19, Bank of Japan.

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