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Solow meets market socialism: regional convergence of output per worker in China

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  • Gundlach, Erich

Abstract

Regional output per worker has converged in China in the era of market socialism since 1978. The estimated speed of convergence is about 2 percent. This speed of convergence can be explained by an open economy neoclassical growth model in the tradition of Robert Solow. My empirical results show that capital mobility has been high across Chinese provinces and that the production elasticity of human capital is about twice as high as the production elasticity of physical capital. With less interprovincial capital flows as the result of an expected increase in fiscal decentralization, the speed of convergence of regional output per worker is likely to decline.

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Bibliographic Info

Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 726.

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Date of creation: 1996
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Handle: RePEc:kie:kieliw:726

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  1. Young, Alwyn, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 641-80, August.
  2. Friedman, Milton, 1992. "Do Old Fallacies Ever Die?," Journal of Economic Literature, American Economic Association, vol. 30(4), pages 2129-32, December.
  3. Gundlach, Erich, 1994. "The role of human capital in economic growth: new results and alternative interpretations," Kiel Working Papers 659, Kiel Institute for the World Economy.
  4. Martin Feldstein & Charles Horioka, 1979. "Domestic Savings and International Capital Flows," NBER Working Papers 0310, National Bureau of Economic Research, Inc.
  5. Martin Feldstein, 1994. "Tax policy and international capital flows," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 130(4), pages 675-697, December.
  6. N. Gregory Mankiw, 1995. "The Growth of Nations," Harvard Institute of Economic Research Working Papers 1732, Harvard - Institute of Economic Research.
  7. N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
  8. Sinn, Stefan, 1992. "Saving-Investment Correlations and Capital Mobility: On the Evidence from Annual Data," Economic Journal, Royal Economic Society, vol. 102(414), pages 1162-70, September.
  9. Raiser, Martin, 1995. "Decentralisation, autonomy and efficiency: Inconsistent reforms and enterprise performance in China," Kiel Working Papers 689, Kiel Institute for the World Economy.
  10. Maddison, Angus, 1987. "Growth and Slowdown in Advanced Capitalist Economies: Techniques of Quantitative Assessment," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 649-98, June.
  11. Jefferson, Gary H & Rawski, Thomas G & Yuxin, Zheng, 1992. "Growth, Efficiency, and Convergence in China's State and Collective Industry," Economic Development and Cultural Change, University of Chicago Press, vol. 40(2), pages 239-66, January.
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Cited by:
  1. Gundlach, Erich, 1997. "Openness and economic growth in developing countries," Open Access Publications from Kiel Institute for the World Economy 1723, Kiel Institute for the World Economy (IfW).
  2. Erich Gundlach, 1997. "Human capital and economic development: A macroeconomic assessment," Intereconomics: Review of European Economic Policy, Springer, vol. 32(1), pages 23-35, January.
  3. Raiser, Martin, 1996. "Subsidising inequality: Economic reforms, fiscal transfers and convergence across Chinese provinces," Kiel Working Papers 758, Kiel Institute for the World Economy.

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