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Transition of China¡¯s Growth Pattern

Author

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  • Ding Lu

    (Department of Economics, University of the Fraser Valley, Abbotsford, BC V2S 7M8, Canada)

Abstract

China has achieved hyper economic growth in the past three decades. The achievement, though spectacular, is nothing incomprehensible to modern economic theories. A number of characteristic factors, short-term or long-term, have been favorable to fast growth. The market-oriented reforms that started thirty years ago have installed the preconditions for the economy to benefit from these factors. As China rises to the rank of middle-income countries, some conditions that used to support fast economic growth are now undergoing profound changes. These changes have important implications on capital formation and productivity growth, the two major drivers of growth. With the era of hyper economic growth coming to its end, the growth pattern of the Chinese economy is in transition. That calls for a transformation of government¡¯s role in the economy to answer the challenges of this transition.

Suggested Citation

  • Ding Lu, 2011. "Transition of China¡¯s Growth Pattern," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 6(4), pages 535-555, December.
    • Handle: RePEc:fec:journl:v:6:y:2011:i:4:p:535-555
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    File URL: http://journal.hep.com.cn/fec/EN/10.1007/s11459-011-0146-0
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    Citations

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    Cited by:

    1. Ding Lu, 2017. "China's Growth Slowdown and Prospects for Becoming a High-Income Developed Economy," Asian Economic Papers, MIT Press, vol. 16(1), pages 89-113, Winter/Sp.

    More about this item

    Keywords

    economic growth; transition; labor; capital; TFP; China;
    All these keywords.

    JEL classification:

    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development

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