Gold into Base Metals: Productivity Growth in the People's Republic of China during the Reform Period

Alwyn Young

No 7856, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: With minimal sleight of hand, it is possible to transform the recent growth experience of the People's Republic of China from the extraordinary into the mundane. Systematic understatement of inflation by enterprises accounts for 2.5% growth per annum in the non-agricultural economy during the reform period (1978-1998). The usual suspects, i.e. rising participation rates, improvements in educational attainment, and the transfer of labour out of agriculture, account for most of the remainder. The productivity performance of the non-agricultural economy during the reform period is respectable, but not outstanding. To the degree that the reforms have improved efficiency, these gains may lie principally in agriculture.

JEL-codes: O4 P2 (search for similar items in EconPapers)
Date: 2000-08
Note: EFG
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Citations: View citations in EconPapers (45)

Published as Alwyn Young, 2003. "Gold into Base Metals: Productivity Growth in the People’s Republic of China during the Reform Period," Journal of Political Economy, vol 111(6), pages 1220-1261.

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