China’s Great Convergence and Beyond

Kjetil Storesletten and Fabrizio Zilibotti

Annual Review of Economics, 2014, vol. 6, issue 1, 333-362

Abstract: A recent wave of economic research has studied the transformation of China from a poor country in the 1970s to a middle-income economy today. Based on this literature, we discuss the factors driving China’s development process. We provide a historical account of China’s rise, fall, and resurgence. We then discuss the stylized facts associated with China’s growth process and review a comprehensive theory of its economic transition. Finally, we discuss China’s future. In particular, we review some recent studies about technological and politico-economic factors that may foster or hinder its future economic performance.

Keywords: economic reforms; foreign imbalances; innovation; middle-income trap; pension reform; savings (search for similar items in EconPapers)
JEL-codes: E21 E22 E24 F43 H11 H55 I31 I38 J11 J13 J31 L52 N15 N45 N65 O11 O14 O33 O38 O41 O43 O47 O53 P31 Q53 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (7)

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