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Explaining Economic Growth in China: New Time Series and Econometric Tests of Various Models

Author

Listed:
  • Zhiming Long

    (THU - Tsinghua University [Beijing])

  • Rémy Herrera

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, CNRS - Centre National de la Recherche Scientifique)

  • Weinan Ding

    (THU - Tsinghua University [Beijing])

Abstract

upported by new statistical series on stocks of physical capital and of human capital constructed for this work, this article tries to improve the explanation of China's long-term economic growth. It begins by presenting the original databases that will be used later, emphasizing the construction methods of our different stocks of physical capital and of human capital for China from 1952 to 2012. Then, it offers econometric estimates made in the framework of a broad range of theoretical models, going from standard or augmented Solowian specifications to more or less sophisticated linearized formalizations of endogenous growth, with research and development (R&D) indicators. We find that the productive stocks of physical capital and of human capital, as well as R&D, positively and significantly contribute to Chinese GDP growth.

Suggested Citation

  • Zhiming Long & Rémy Herrera & Weinan Ding, 2020. "Explaining Economic Growth in China: New Time Series and Econometric Tests of Various Models," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-02974389, HAL.
    • Handle: RePEc:hal:cesptp:hal-02974389
    DOI: 10.3917/jie.033.0195
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    Cited by:

    1. Zhiming LONG & Rémy HERRERA, 2020. "Spurious OLS Estimators of Detrending Method by Adding a Linear Trend in Difference-Stationary Processes—A Mathematical Proof and Its Verification by Simulation," Mathematics, MDPI, vol. 8(11), pages 1-19, November.
    2. Augier, Laurent & Yin, Chao, 2022. "Financial market economy vs self-financing economy and the role of risk aversion," International Economics, Elsevier, vol. 172(C), pages 15-28.

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