From the Demographic Dividend to the Reform Dividend

Fang Cai (13693186775@163.com)
Additional contact information
Fang Cai: Chinese Academy of Social Sciences

Chapter Chapter 14 in Understanding China's Economy, 2021, pp 233-252 from Springer

Abstract: Abstract The key to creating another economic miracle on the back of sustained medium-high growth speeds is the deepening of supply side reforms. In the new normal of economic development, the aim of maintaining medium-high speed economic growth is not the simple achieving of some percentage point increase in the growth rate, but in the transformation of the drivers of growth. In this way, growth forecasts are met via productivity driven methods. The key to maintaining sustainable economic growth in China is to abandon the quest for inspiration from demand side policy measures, and also that of the analytical framework of the economic cycle, followed by the adoption of a supply side focus on factors driving the potential growth rate downwards. This starts from systemic barriers that impede the supply of factors of production, as well as increases in total factor productivity; and from which tap into new growth drivers via structural reforms, thereby raising the potential growth rate.

Keywords: Supply side reforms; Urbanization; People oriented; Modernization of agricultural production; Human capital (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (1)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:sprchp:978-981-33-6322-9_14

Ordering information: This item can be ordered from
http://www.springer.com/9789813363229

DOI: 10.1007/978-981-33-6322-9_14

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla (sonal.shukla@springer.com) and Springer Nature Abstracting and Indexing (indexing@springernature.com).