How Does the Productivity and Economic Growth Performance of China and India Compare in the Post-Reform Era, 1981-2011?
Harry X. Wu (),
Deb Kusum Das (),
K. L. Krishna and
Pilu Chandra Das
International Productivity Monitor, 2017, vol. 33, 91-113
Applying an aggregate production possibility frontier (APPF) framework for growth accounting à la Jorgenson et al. to economy-wide Chinese and Indian industry productivity accounts, constructed in the spirit of the KLEMS principle, we estimate and compare growth and productivity performance in China and India over their post-reform period from 1981 to 2011. We show that during this period China grew over 50 per cent-faster than India in value added (9.4 versus 6.1 per cent per annum) but about 25 per cent-slower than India in TFP (0.83 versus 1.13 per cent per annum). The two economies also experienced very different growth and productivity performances over sub-periods distinguished by special policy regimes and governing systems. While both countries appeared to enjoy their best performances in the 2002-2007 period following China's WTO entry, China faltered much more in terms of total factor productivity growth in the wake of the global financial crisis.
Keywords: Growth; Productivity; Total Factor Productivity; China; India. (search for similar items in EconPapers)
JEL-codes: D24 N15 O47 (search for similar items in EconPapers)
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