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Structural Change and Economic Development in China and India

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  • Vittorio Valli
  • Donatella Saccone

Abstract

The comparison of the periods of rapid economic growth in China since 1978 and India since 1992 markedly show different patterns of development and structural change. However, both countries experienced some advantages of "relative economic backwardness" and some aspects of the "fordist model of growth". China had an anticipated and deeper structural change, spurred mainly by economic reforms and the growth of the internal market in the 1980s, and, since the mid-1990s, by a very rapid penetration of its industrial products in the world market. However, a substantial part of China's exports in medium and high tech sectors are due to joint-ventures with foreign multinationals. India had a more balanced structural change and a slower insertion in the world market, although some sectors, such as software, steel, automotive and pharmaceuticals are recently increasing their share in the world markets. Owing to the huge number of micro-enterprises and the great size of the informal sector, India benefited much less than China from the economies of scale and from the third wave of the "fordist model of growth". Both countries, but in particular China, experienced negative externalities of this recent phase of rapid growth, such as higher inequalities, pollution and urban congestion.

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Bibliographic Info

Article provided by Cattaneo University (LIUC) in its journal The European Journal of Comparative Economics.

Volume (Year): 6 (2009)
Issue (Month): 1 (June)
Pages: 101-129

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Handle: RePEc:liu:liucej:v:6:y:2009:i:1:p:101-129

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Keywords: economic development; structural change; fordist model of growth; China's economy; India's economy;

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References

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  1. Angus Maddison & Harry X. Wu, 2008. "Measuring China’s Economic Performance," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 9(2), pages 13-44, April.
  2. Barry Bosworth & Susan M. Collins, 2008. "Accounting for Growth: Comparing China and India," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 45-66, Winter.
  3. Alessia Amighini, 2005. "China in the international fragmentation of production: Evidence from the ICT industry," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 2(2), pages 203-219, December.
  4. Sau Lino, 2009. "Gradualism and the Evolution of the Financial Structure in China," Department of Economics and Statistics Cognetti de Martiis. Working Papers 200903, University of Turin.
  5. Sau Lino, 2008. "La struttura del sistema finanziario in Cina," Department of Economics and Statistics Cognetti de Martiis. Working Papers 200807, University of Turin.
  6. Adam Szirmai & Ruoen Ren & Manyin Bai, 2005. "Chinese Manufacturing Performance in Comparative Perspective, 1980-2002," Working Papers 920, Economic Growth Center, Yale University.
  7. Saccone Donatella, 2008. "Educational Inequality and Educational Poverty. the Chinese Case in the Period 1975-2004," Department of Economics and Statistics Cognetti de Martiis. Working Papers 200808, University of Turin.
  8. Valli Vittorio, 2009. "The three waves of the fordist model of growth and the case of China," Department of Economics and Statistics Cognetti de Martiis. Working Papers 200905, University of Turin.
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Citations

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Cited by:
  1. Vazhayil, Joy P. & Balasubramanian, R., 2010. "Copenhagen commitments and implications: A comparative analysis of India and China," Energy Policy, Elsevier, vol. 38(11), pages 7442-7450, November.
  2. Heshmati, Almas & Kumbhakar, Subal C., 2010. "Technical Change and Total Factor Productivity Growth: The Case of Chinese Provinces," IZA Discussion Papers 4784, Institute for the Study of Labor (IZA).
  3. Naiya, Ismaeel Ibrahim, 2013. "Structural Change, Economic Growth and Poverty in OIC countries: the case of Indonesia, Malaysia, Nigeria and Turkey," MPRA Paper 53954, University Library of Munich, Germany.
  4. Valli Vittorio, 2009. "The three waves of the fordist model of growth and the case of China," Department of Economics and Statistics Cognetti de Martiis. Working Papers 200905, University of Turin.
  5. Enrico Marelli & Marcello Signorelli, 2011. "China and India: Openness, Trade and Effects on Economic Growth," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 8(1), pages 129-154, June.
  6. Saccone Donatella, 2011. "Potenze economiche emergenti: Cina e India a confronto.Istruzione e diseguaglianze," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201113, University of Turin.
  7. Vittorio Valli, 2009. "Book Review of: "Global Sustainability: Social and Environmental Conditions", Simone Borghesi and Alessandro Vercelli," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 6(2), pages 347-350, December.

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