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High-Skilled Services and Development in China

Lei Fang () and Berthold Herrendorf ()

No 2019-21, FRB Atlanta Working Paper from Federal Reserve Bank of Atlanta

Abstract: We document that the employment share of high-skill-intensive services is much lower in China than in countries with similar gross domestic product (GDP) per capita. We build a model of structural change with goods and low- and high-skill-intensive services to account for this observation. We find that large distortions limit the size of high-skill-intensive services in China. If they were removed, both high-skill-intensive services and GDP per capita would increase considerably. We document a strong presence of state-owned enterprises in high-skill-intensive services and argue that this presence leads to important distortions.

Keywords: mortgage default; foreclosure; externality; policy; vacancy (search for similar items in EconPapers)
JEL-codes: O41 O47 O51 (search for similar items in EconPapers)
Pages: 35 pages
Date: 2019-11-01
New Economics Papers: this item is included in nep-cna, nep-lma and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedawp:2019-21

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DOI: 10.29338/wp2019-21

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