Growth imbalance and government responsibility: From the perspective of social spending

Xiaojing Zhang (), Hongju Wang and Xin Chang
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Xiaojing Zhang: Institute of Economics, Chinese Academy of Social Sciences, Beijing 100836, China
Hongju Wang: Institute of Economics, Chinese Academy of Social Sciences, Beijing 100836, China
Xin Chang: Institute of Economics, Chinese Academy of Social Sciences, Beijing 100836, China

Frontiers of Economics in China-Selected Publications from Chinese Universities, 2007, vol. 2, issue 3, 362-387

Abstract: There exists a kind of growth imbalance in China's current development process, which is essentially characterized by the imbalance between the nation's wealth and the people's welfare. This paper points out that growth imbalance results mostly from insufficient government social spending on people's welfare. Consequently, the government should shoulder the basic responsibility for the provision of education, health and social security, quicken the transformation of government expenditure structure and increase the share of social spending, in order to improve the people's welfare and achieve the rebalancing of growth. The increase in social spending can also promote the accumulation of human capital, which will help the conversion of economic growth pattern and the realization of sustainable and healthy economic development.

Keywords: growth imbalance; government responsibility; social spending; human capital accumulation (search for similar items in EconPapers)
JEL-codes: E62 H51 H52 H53 (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:fec:journl:v:2:y:2007:i:3:p:362-387

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