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The Division of Labor, Capital, Communication Technology and Economic Growth: The Case of China 1952-99

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  • Paresh Kumar Narayan
  • Guang-Zhen Sun

Abstract

The implications of the division of labor, capital, and technology for economic growth have long been a fundamental issue in development economics. This paper employs the bounds testing approach to cointegration to examine the relationship between the division of labor, capital accumulation, communication technology, and economic growth for China over the period 1952-99. We find that in the long run, capital stock and the division of labor both have statistically significant positive effects on growth, while in the short run the effects are not significantly positive. Telecommunication technology, rather surprisingly, has a statistically insignificant impact on growth both in the long run and in the short run. Our findings indicate that there exists a long run equilibrium relationship between capital and the division of labor on the one hand, and economic growth on the other, thereby lending support to the division of labor theory of growth. Copyright © 2007 The Authors; Journal compilation © 2007 Blackwell Publishing Ltd.

Suggested Citation

  • Paresh Kumar Narayan & Guang-Zhen Sun, 2007. "The Division of Labor, Capital, Communication Technology and Economic Growth: The Case of China 1952-99," Review of Development Economics, Wiley Blackwell, vol. 11(4), pages 645-664, November.
  • Handle: RePEc:bla:rdevec:v:11:y:2007:i:4:p:645-664
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    1. Robert M. Solow (ed.), 2001. "Landmark Papers in Economic Growth Selected By Robert M. Solow," Books, Edward Elgar Publishing, number 2191.
    2. repec:wsi:wsbook:5728 is not listed on IDEAS
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    Cited by:

    1. Herrerias, M.J. & Orts, Vicente, 2011. "Imports and growth in China," Economic Modelling, Elsevier, vol. 28(6), pages 2811-2819.

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