Growth in China's New Economy

Creina Day

Asian Economics Letters, 2021, vol. 2, issue 1, 1-6

Abstract: This paper analyzes socially optimal shares of output invested in research and development (R&D), education and physical capital to sustain China’s economic growth as population growth slows. China’s high human capital income share closes the gap between individual skill and the technology frontier. The long run level of output per person is independent of population size. China’s spending on R&D and education contributes more than physical capital investment to economic growth.

Keywords: r&d; china; economic growth (search for similar items in EconPapers)
JEL-codes: O3 O4 (search for similar items in EconPapers)
Date: 2021
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