Working Papers in Economics
Can China’s Growth be Sustained? A Productivity Perspective
(), Arne Bigsten
() and Angang Hu
Abstract: China’s unorthodox approach to economic transition has
resulted in sustained high growth. However, in recent years Chinese
economists have increasingly referred to the growth pattern as “extensive”,
generated mainly through the expansion of inputs. Our investigation of the
Chinese economy during the reform period finds that reform measures often
resulted in one-time level effects on TFP. China now needs to adjust its
reform program towards sustained increases in productivity. Market and
ownership reforms, and open door policies have improved the situation under
which Chinese firms operate, but further institutional reforms are required
to consolidate China’s move to a modern market economy.
Keywords: Growth; Productivity; China; (follow links to similar papers)
JEL-Codes: D24; O47; O53; (follow links to similar papers)
32 pages, November 28, 2006
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- This paper is forthcoming as:
Zheng, Jinghai, Arne Bigsten and Angang Hu, 'Can China’s Growth be Sustained? A Productivity Perspective', World Development.
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