China’s Dual Structure-Based Growth Accounting—Theoretical and Empirical Analysis of Introducing the Labor Employment Rate

Zhao Wen
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Zhao Wen: Institute of Population and Labor Economics, Chinese Academy of Social Sciences Beijing China

China Finance and Economic Review, 2024, vol. 13, issue 4, 3-23

Abstract: The role of the dual structure in economic growth is often weakened by the use of neoclassical growth models, resulting in the defect of strong theoretical but weak empirical evidence. We take the labor employment rate as an abstract attribute of the dual stage and construct a growth accounting equation that can conduct unified growth accounting among economies at different stages of development and among different stages of development of the same economy. On this basis, we measured the potential contribution of increasing the labor employment rate to economic growth in the future. The results show that the elimination of the dual structure will continue to be an important source of China’s medium and long term economic growth.

Keywords: growth accounting; labor employment rate; demographic transition; dual structure; employment expansion (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:cferev:v:13:y:2024:i:4:p:3-23:n:1001

DOI: 10.1515/cfer-2024-0019

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