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The Nature of China's Economic Growth in the Past Two Decades

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  • Zhiqiang Liu
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    Abstract

    The Chinese economy has grown at record rates since the start of the market-oriented reforms in 1978. Motivated by the Asian productivity debate, this article provides an assessment of the role of total factor productivity in China's economic growth in the past two decades. We identify four main factors in the productivity growth: efficiency gain at the micro level; improvement in resource allocation; diffusion of technology through foreign direct investment; and improvement in infrastructure. We also argue that further state-owned enterprise and banking reforms, an emerging entrepreneurial class and greater research and development efforts are additional driving forces for the medium to long-term total factor productivity growth in China.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/14631370050043643
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Post-Communist Economies.

    Volume (Year): 12 (2000)
    Issue (Month): 2 ()
    Pages: 201-214

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    Handle: RePEc:taf:pocoec:v:12:y:2000:i:2:p:201-214

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    Web page: http://www.tandfonline.com/CPCE20

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    1. Chen, Jian & Fleisher, Belton M., 1996. "Regional Income Inequality and Economic Growth in China," Journal of Comparative Economics, Elsevier, vol. 22(2), pages 141-164, April.
    2. Chow, G.C., 1990. "Capital Formation And Economic Growth In China," Papers 67, Princeton, Woodrow Wilson School - Discussion Paper.
    3. Wu Yanrui, 1994. "Productivity Growth, Technological Progress and Technical Efficiency Change in China: A Three-Sector Analysis," Chinese Economies Research Centre (CERC) Working Papers 1994-05, University of Adelaide, Chinese Economies Research Centre.
    4. McMillan, John & Whalley, John & Zhu, Lijing, 1989. "The Impact of China's Economic Reforms on Agricultural Productivity Growth," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 781-807, August.
    5. Alwyn Young, 1992. "A Tale of Two Cities: Factor Accumulation and Technical Change in Hong Kong and Singapore," NBER Chapters, in: NBER Macroeconomics Annual 1992, Volume 7, pages 13-64 National Bureau of Economic Research, Inc.
    6. Jesus Felipe, 1999. "Total factor productivity growth in East Asia: A critical survey," Journal of Development Studies, Taylor & Francis Journals, vol. 35(4), pages 1-41.
    7. Woo Wing Thye & Hai Wen & Jin Yibiao & Fan Gang, 1994. "How Successful Has Chinese Enterprise Reform Been? Pitfalls in Opposite Biases and Focus," Journal of Comparative Economics, Elsevier, vol. 18(3), pages 410-437, June.
    8. Lin, Justin Yifu, 1992. "Rural Reforms and Agricultural Growth in China," American Economic Review, American Economic Association, vol. 82(1), pages 34-51, March.
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    Cited by:
    1. Zheng, Jinghai & Bigsten, Arne & Hu, Angang, 2006. "Can China’s Growth be Sustained? A Productivity Perspective," Working Papers in Economics 236, University of Gothenburg, Department of Economics.

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