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A New Model for the Economic Rise of China

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  • Xiugang Yang

Abstract

Based on economic mechanics and Chinese time series data from 1978 to 2018, this paper has measured and analyzed production forces, transaction capacity and consumption power to determine how they impact the growth of national wealth in China. We found that all three significantly influence the national fiscal revenue. The drivers of economic growth include developing manufacturing processes; improving production forces; increasing finance and investment to improve infrastructure, logistics and telecommunication; improving human capital and social institutions to enhance transaction capacity; and boosting the consumption power through a range of efforts to elevate the production force, although consumption power lost its statistical significance in this paper. These factors all impact the fiscal revenue growth and lead to economic rise in China.

Suggested Citation

  • Xiugang Yang, 2022. "A New Model for the Economic Rise of China," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 12(7), pages 518-536.
    • Handle: RePEc:asi:aeafrj:v:12:y:2022:i:7:p:518-536:id:4536
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