The Chinese Growth Miracle

Yang Yao

Chapter 07 in Handbook of Economic Growth, 2014, vol. 2, pp 943-1031 from Elsevier

Abstract: This chapter provides a review of China’s economic growth since 1978. Studying China’s economic success may shed new light on the political economy of growth, the impacts of the ascent of large countries on the rest of the world, and the relationship between inequality and economic growth. The chapter starts with a review of the characteristics of China’s economic growth and compares it with those of several similar economies. Then it shows how China’s economic success has been created by innovative institutional arrangements as well as adherence to the policy advice prescribed by neoclassical economics. After that, the chapter describes China’s export-led growth model and analyzes its causes and the structural imbalances associated with it. Lastly, the chapter presents data for income inequality in China and discusses how inequality may affect China’s prospect of avoiding the middle-income trap.

Keywords: Chinese growth miracle; Political economy of growth; Export-led growth; Global imbalances; Middle-income trap (search for similar items in EconPapers)
JEL-codes: D3 F3 F4 O1 O5 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (22)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/B9780444535405000070
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:grochp:2-943

DOI: 10.1016/B978-0-444-53540-5.00007-0

Access Statistics for this chapter

More chapters in Handbook of Economic Growth from Elsevier
Bibliographic data for series maintained by Catherine Liu ().