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The Neoclassical Growth of China
Fernández-Villaverde, Jesús; Ohanian, Lee E.; Yao, Wen - National Bureau of Economic Research - 2023
This paper studies China's four-fold increase in per capita GDP relative to the U.S. between 1995 and 2019. First, we … argue that China's growth pattern is very similar to that of several other East Asia economies that initially grew very … China's growth path and the growth paths of other East Asia economies at a similar stage of development. The growth paths of …
Persistent link: https://www.econbiz.de/10014322739
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Measuring Economic Growth with a Fully Identified Three-Signal Model
Civelli, Andrea; Gaduh, Arya; Yousuf, Ahmed Sadek - National Bureau of Economic Research - 2023
We augment Henderson, Storeygard, and Weil (2012)'s two-signal model of true income growth with a third signal to overcome its underidentification problem. The additional moment conditions from the third signal help fully identify all model parameters without ad-hoc calibrations of the GDP's...
Persistent link: https://www.econbiz.de/10014322903
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Further Comments on The Impact of the Asian Miracle on the Theory of Economic Growth
Fogel, Robert W. - 2010
China during the four decades between 2000 and 2040. The first concerns the source of the factors which make it likely that … China will continue to grow at a high rate for another generation. The paper argues that this growth will be the result of …
Persistent link: https://www.econbiz.de/10012462930
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The Impact of the Asian Miracle on the Theory of Economic Growth
Fogel, Robert W. - 2009
spectacular advances of the economies of China, India, and Southeast Asia. Section 1 reviews the debate over the sources of … the new recognition among Western economists that the sustained, very rapid growth in China and Southeast Asia was …
Persistent link: https://www.econbiz.de/10012463682
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The Economy of People’s Republic of China from 1953
Cheremukhin, Anton - 2015
This paper studies growth and structural transformation of the Chinese economy from 1953 to 2012 through a lens of a two-sector growth model. The main goal of the paper is to provide a systematic analysis of both the pre-1978 reform and post-1978 reform periods in a unified framework. First, we...
Persistent link: https://www.econbiz.de/10012457271
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Investing with the Government : A Field Experiment in China
Colonnelli, Emanuele; Li, Bo; Liu, Ernest - National Bureau of Economic Research - 2022
We study the demand for government participation in China's venture capital and private equity market. We conduct a …
Persistent link: https://www.econbiz.de/10013334380
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Tertiarization Like China
Chen, Xilu; Pei, Guangyu; Song, Zheng Michael; … - National Bureau of Economic Research - 2022
We document a process of rapid tertiarization of the Chinese economy since 2005. The employment and value-added shares of the service sector have increased significantly. Moreover, total factor productivity growth has increased faster in the service sector than in the manufacturing sector....
Persistent link: https://www.econbiz.de/10013334489
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Growth and Business Cycles
Jones, Larry - 2000
Our purpose in this paper is to present a class of convex endogenous growth models, and to analyze their performance in terms of both growth and business cycle criteria. The models we study have close analogs in the real business cycle literature. In fact, we interpret the exogenous growth rate...
Persistent link: https://www.econbiz.de/10012471134
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Was an Industrial Revolution Inevitable? Economic Growth Over the Very Long Run
Jones, Charles I. - 1999
This paper studies a growth model that is able to match several key facts of economic history. For thousands of years, the average standard of living seems to have risen very little, despite increases in the level of technology and large increases in the level of the population. Then, after...
Persistent link: https://www.econbiz.de/10012471409
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Additive Growth
Philippon, Thomas - National Bureau of Economic Research - 2022
Growth theory is based on the assumption of exponential total factor productivity (TFP) growth. Across countries and time periods I find that TFP growth is actually linear. Unlike the exponential model, the additive growth model provides useful medium-term forecasts of TFP. It also explains the...
Persistent link: https://www.econbiz.de/10013191045