Can China’s Growth be Sustained? A Productivity Perspective

Zheng, Jinghai, Bigsten, Arne and Hu, Angang (2009) Can China’s Growth be Sustained? A Productivity Perspective. World Development, 37 (4). pp. 874-888. ISSN 0305-750X

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China’s gradual approach to economic transition has resulted in sustained high growth. However, in recent years Chinese economists have increasingly referred to the growth pattern as “extensive,” generated mainly through the expansion of inputs. Our investigation of the Chinese economy during the reform period finds that reform measures often resulted in one-time level effects on total factor productivity (TFP). China now needs to adjust its reform program toward sustained increases in productivity. Market and ownership reforms, and open door policies have improved the conditions under which Chinese firms operate, but further institutional reforms are required to consolidate China’s move to a full-fledged market economy.

Item Type: Article
Uncontrolled Keywords: growth accounting, total factor productivity, economic reform, China, Asia
Subjects: N100 Business studies
Department: Faculties > Business and Law > Newcastle Business School
Depositing User: Ellen Cole
Date Deposited: 04 Apr 2013 13:42
Last Modified: 17 Dec 2023 15:45

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