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Why has China succeeded? And why it will continue to do so

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  • Jesus Felipe
  • Utsav Kumar
  • Norio Usui
  • Arnelyn Abdon

Abstract

The key factor underlying China's fast development during the last 50 years is its ability to master and accumulate new and more complex capabilities, reflected in the increase in diversification and sophistication of its export basket. This accumulation was policy induced and not the result of the market, and began before 1979. During the last 50 years, China has acquired revealed comparative advantage in the export of both labour-intensive products (following its factor abundance) and sophisticated products, although the latter does not mean that there was leapfrogging. China is exceptionally well positioned (especially taking into account its income per capita) to continue learning and gaining revealed comparative advantage in the export of more sophisticated products. Given adequate policies, carefully thought-out and implemented reforms and skilful management of constraints and risks, China has the potential to continue thriving. This does not mean, however, that high growth will continue indefinitely. Copyright , Oxford University Press.

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File URL: http://hdl.handle.net/10.1093/cje/bes058
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Bibliographic Info

Article provided by Oxford University Press in its journal Cambridge Journal Of Economics.

Volume (Year): 37 (2013)
Issue (Month): 4 ()
Pages: 791-818

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Handle: RePEc:oup:cambje:v:37:y:2013:i:4:p:791-818

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Cited by:
  1. Sandra PONCET & Felipe STAROSTA DE WALDEMAR, 2012. "Export upgrading and growth: the prerequisite of domestic embeddedness," Working Papers P57, FERDI.
  2. Badibanga, Thaddee Mutumba & Ulimwengu, John M., 2012. "The Sophistication and Diversification of the African Agricultural Sector: A Product Space Approach," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124498, Agricultural and Applied Economics Association.
  3. Jesus Felipe & Utsav Kumar & Arnelyn Abdon, 2010. "As You Sow So Shall You Reap: From Capabilities to Opportunities," Economics Working Paper Archive wp_613, Levy Economics Institute.
  4. Arnelyn Abdon & Jesus Felipe, 2011. "The Product Space: What Does It Say About the Opportunities for Growth and Structural Transformation of Sub-Saharan Africa?," Economics Working Paper Archive wp_670, Levy Economics Institute.
  5. Jesus Felipe & Utsav Kumar & Arnelyn Abdon, 2010. "Using Capabilities to Project Growth, 2010-30," Economics Working Paper Archive wp_609, Levy Economics Institute.
  6. Jesus Felipe & Utsav Kumar & Arnelyn Abdon, 2010. "Exports, Capabilities, and Industrial Policy in India," Economics Working Paper Archive wp_638, Levy Economics Institute.
  7. Jesus Felipe, 2010. "Asia and the Global Crisis: Recovery Prospects and the Future," Economics Working Paper Archive wp_619, Levy Economics Institute.
  8. Felipe, Jesus & Kumar, Utsav & Abdon, Arnelyn, 2012. "Using capabilities to project growth, 2010–2030," Journal of the Japanese and International Economies, Elsevier, vol. 26(1), pages 153-166.

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