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Asian Century: A Comparative Analysis of Growth in China, India and other Asian Economies

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  • Kaushik Basu

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Abstract

The paper argues that if the Chinese economy had failed, mainstream economics would have described this as completely predictable, given the extent and nature of involvement of the Chinese state in the functioning of markets and the economy. The fact that China has succeeded therefore should lead us to question our textbook doctrines of development. Much of this paper is presented as a comparative study of India, China and, briefly, other Asian nations.

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Bibliographic Info

Paper provided by eSocialSciences in its series Working Papers with number id:3277.

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Date of creation: Dec 2010
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Handle: RePEc:ess:wpaper:id:3277

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Keywords: asian nations; development; markets; growth; GDP; entrepreneurship; Japan; korea; India; China; chinese economy; economics;

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  1. Basu, Kaushik, 2003. "Prelude to Political Economy: A Study of the Social and Political Foundations of Economics," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780199261857, October.
  2. David Dollar & Shang-Jin Wei, 2007. "Das (Wasted) Kapital: Firm Ownership and Investment Efficiency in China," NBER Working Papers, National Bureau of Economic Research, Inc 13103, National Bureau of Economic Research, Inc.
  3. Rodrik, Dani & Subramanian, Arvind, 2004. "From 'Hindu Growth' to Productivity Surge: The Mystery of the Indian Growth Transition," CEPR Discussion Papers, C.E.P.R. Discussion Papers 4371, C.E.P.R. Discussion Papers.
  4. Kaushik Basu & Annemie Maertens, 2007. "The pattern and causes of economic growth in India," Oxford Review of Economic Policy, Oxford University Press, Oxford University Press, vol. 23(2), pages 143-167, Summer.
  5. David Dollar & Shang-Jin Wei, 2007. "Das (Wasted) Kapital," IMF Working Papers, International Monetary Fund 07/9, International Monetary Fund.
  6. Fields, Gary S. & Wan, Henry Jr., 1989. "Wage-setting institutions and economic growth," World Development, Elsevier, Elsevier, vol. 17(9), pages 1471-1483, September.
  7. Manishi Prasad & Peter Wahlqvist & Rich Shikiar & Ya-Chen Tina Shih, 2004. "A," PharmacoEconomics, Springer Healthcare | Adis, Springer Healthcare | Adis, vol. 22(4), pages 225-244.
  8. Mario Biggeri & Marco Sanfilippo, 2009. "Understanding China's move into Africa: an empirical analysis," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 7(1), pages 31-54.
  9. T. N. Srinivasan, 2005. "Comments on "From 'Hindu Growth' to Productivity Surge: The Mystery of the Indian Growth Transition"," IMF Staff Papers, Palgrave Macmillan, Palgrave Macmillan, vol. 52(2), pages 229-233, September.
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