CHINA'S ECONOMIC GROWTH, STRUCTURAL CHANGE AND THE LEWISIAN TURNING POINT

Kyoji Fukao, 京司 深尾 and Tangjun Yuan

Hitotsubashi Journal of Economics, 2012, vol. 53, issue 2, 147-176

Abstract: Constructing an open economy Lewisian growthmodel withth ree sectors, we analyze the relationship between economic growth and the level of absolute prices. We show that the absolute price level will not increase until the economy reaches the Lewisian turning point. In addition, we show that in an economy like China, where there are strong barriers to the movement of labor to the manufacturing sector and where the ratio of net exports of goods and services to GDP is high, the economy will not reach the turning point until GDP per worker reaches a relatively high level.

Keywords: China; Lewisian turning point; Labor market; Purchasing power parity; Equilibrium exchange rate (search for similar items in EconPapers)
JEL-codes: F31 F41 F42 F43 J20 J30 J43 J61 O11 O14 O41 O53 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/25383/HJeco0530214700.pdf

Related works:
Working Paper: China's Economic Growth, Structural Change and the Lewisian Turning Point (2012)
Working Paper: China's Economic Growth, Structural Change and the Lewisian Turning Point (2012)
Working Paper: China's Economic Growth, Structural Change and the Lewisian Turning Point (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hitjec:v:53:y:2012:i:2:p:147-176

DOI: 10.15057/25383

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