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China's Remarkable Economic Growth

  • Hardcover
China's economy has been growing at ten per cent per annum for the last three decades. This book considers one of the biggest questions facing contemporary economists: why and how is the Chinese economy growing so fast?
China's Remarkable Economic Growth
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How has the Chinese economy managed to grow at such a remarkable rate - no less than ten per cent per annum - for over three decades? This well-integrated book combines economic theory, empirical estimation, and institutional analysis to address one of the most important questions facing contemporary economists. A common thread that runs throughout the book is the underlying political economy: why China became a 'developmental state', and how it has maintained itself as a 'developmental state'. The book examines the causal processes at work in the evolution of China's institutions and policies. It estimates cross-country and cross-province growth equations to shed light on the proximate, and some of the underlying, determinants of the growth rate.
It explores important consequences of China's growth, posing a series of key questions, such as: is the economy running out of unskilled labour; why and how has inequality risen; has economic growth raised happiness; what are the social costs of the overriding priority accorded to growth objectives; can China continue to grow rapidly, or will the maturing economy, or the macroeconomic imbalances, or financial crisis, or social instability, bring it to an end? Based mainly on original research, this book will be of interest to growth economists, development economists, transition economists, China specialists, policy-makers, and indeed all those who are intrigued by the Chinese growth phenomenon.
John Knight has conducted research on the Chinese economy for more than two decades, and has published many journal articles, including papers on income distribution, poverty, wages, migration, education, subjective well-being, and economic growth. His books on China include The Rural-Urban Divide: Economic Disparities and Interactions in China and Towards a Labour Market in China (both with Lina Song and both published by OUP). The latter book received the Richard A. Lester Prize, awarded at Princeton University, for the outstanding book in Labor Economics and Industrial Relations published in 2005. He is a long-serving editor of the Oxford Bulletin of Economics and Statistics. ; Sai Ding graduated from Nankai University and obtained her doctorate at Birmingham University before becoming a Research Fellow in Oxford, where she collaborated with John Knight on the research for this book. Her current research is on corporate investment and finance in China.
PART 1: INTRODUCTION ; 1. Setting the Stage ; 2. Approaches to Understanding Economic Growth ; 3. The Evolution of Economic Reform ; PART II: THE DETERMINANTS OF CHINA'S ECONOMIC GROWTH ; 4. China in a Cross-Country Growth Perspective ; 5. The Basic Cross-Province Growth Equation ; 6. The Role of Physical and Human Capital Formation ; 7. The Role of Structural Change: Trade, Ownership, Industry ; 8. Why Does China Invest so Much? ; PART III: THE CONSEQUENCES OF CHINA'S ECONOMIC GROWTH ; 9. Economic Growth and the Labour Market ; 10. Economic Growth and Inequality ; 11. Economic Growth and Happiness ; PART IV: CONCLUSION ; 12. Economic Growth in China: Prospect ; 13. Economic Growth in China: Retrospect
A superb introduction to China. It could easily be used as a summary reading for a semester-length Chinese economy course, or as script for a China economist introducing Chinas economic reform process to any audience ... The China economist will appreciate the comprehensive coverage, meticulously detailed work, elaborate incorporation of existing literature, and careful argumentation. All others, from students enrolled in a Chinese economy course to the general readership, will appreciate the accessibility of solid work on Chinas economic growth and its consequences. Carsten A. Holz, Journal of Economic Literature Although written principally for economic specialists, readers with more general interests in Chinas burgeoning economy will also find much to consider in this book. Marc Lanteigne, International Affairs
How has the Chinese economy managed to grow at such a remarkable rate - no less than ten per cent per annum - for over three decades? This well-integrated book combines economic theory, empirical estimation, and institutional analysis to address one of the most important questions facing contemporary economists. A common thread that runs throughout the book is the underlying political economy: why China became a 'developmental state', and how it has maintained
itself as a 'developmental state'.The book examines the causal processes at work in the evolution of China's institutions and policies. It estimates cross-country and cross-province growth equations to shed light on the proximate, and some of the underlying, determinants of the
growth rate. It explores important consequences of China's growth, posing a series of key questions, such as: is the economy running out of unskilled labour; why and how has inequality risen; has economic growth raised happiness; what are the social costs of the overriding priority accorded to growth objectives; can China continue to grow rapidly, or will the maturing economy, or the macroeconomic imbalances, or financial crisis, or social instability, bring it to an
end?Based mainly on original research, this book will be of interest to growth economists, development economists, transition economists, China specialists, policy-makers, and indeed all those who are intrigued by the Chinese growth phenomenon.
`Although written principally for economic specialists, readers with more general interests in Chinas burgeoning economy will also find much to consider in this book.'
Marc Lanteigne, International Affairs
Examines the causes of China's rapid growth, how and why it happened, and if it can continue
Includes cross-country and cross-province analysis
Looks at the labour shift from the low-productivity agricultural sector to the high-productivity non-agricultural sector
Highlights what other countries can learn from China's experience
Author
John Knight
Year
2012
ISBN-10
0199698694
ISBN-13
9780199698691
Media
Book
Format
Hardcover
Short Title
CHINAS REMARKABLE ECONOMIC GRO
Pages
424
Language
English
Publication Date
2012-04-12
Imprint
Oxford University Press
Place of Publication
Oxford
Country of Publication
United Kingdom
DEWEY
338.951
Affiliation
The Oxford University
Illustrations
23 Figures and 55 Tables
Publisher
Oxford University Press, USA
Audience
Professional and Scholarly
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