Transforming a traditional agricultural economy into a modern economy is one of the main themes in economic development. Through theoretical and empirical analysis, this paper finds out that the key to transformation is to raise the economic value of people, to improve human capital investment...

As Chari et al. (2007) indicate, many growth theories explaining frictions in real economies are equivalent to a competitive economy, with some exogenous taxes. Using this idea, I developed an accounting method for identifying fundamental causes of economic growth. A two-sector neoclassical...

This paper develops an empirical model to test the spatial spillover effects of transport infrastructure on economic growth. It uses spatial econometric techniques and provincial panel data of China from 1993 to 2004 to analyze the contribution of transport infrastructure to the economic growth...

The paper makes an empirical study on factor contribution and its stage variation characteristics during 1952¨C2005 and 1978¨C2005 in China. GMM and OLS tests show that the robustness and significance level of the institution, the physical capital and human capital¡¯s contributions are much...

China has achieved hyper economic growth in the past three decades. The achievement, though spectacular, is nothing incomprehensible to modern economic theories. A number of characteristic factors, short-term or long-term, have been favorable to fast growth. The market-oriented reforms that...

Data from WDI show that developing countries are easily caught in the ¡°middle income trap.¡± To interpret the mechanism of the ¡°middle income trap,¡± this paper focuses on: (1) Based on the empirical framework of economic growth, we perform an empirical research on the determinants of...

After evening out all the benefits and costs, the overall optimal level of democracy is about 3.2, on a scale of 1 to 7. On average, fully dictatorial countries have a conditioned growth rate of ¨C1.113 percent, fully democratic countries have a conditioned growth rate of 1.146 while countries...

This paper investigates whether technological shocks, constructed to be consistent with the observed cross-country income dispersion, are also capable of accounting for development regularities related to capital accumulation. This question is approached via a quantitative theoretical analysis...

Using data on formal manufacturing plants in India, we report a large but imprecise speedup in productivity growth starting in the early 1990s (e.g., 1993-2007 compared to 1980-1992). We trace it to productivity growth within large plants (200 workers or more), as opposed to reallocation across...

A regional economy consists of industries with a variety of economic potentials. A growth or decline in any of these sectors affects the overall growth of the economy. Analysis of economic growth by sector of a particular region helps policy makers, community leaders and researchers in better...