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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
Korea's experience implies that the People's Republic of China's potential growth rates are likely to slow in the coming … People's Republic of China needs to upgrade its institutional quality and improve productivity, particularly in its services …
Persistent link: https://www.econbiz.de/10011471510
The investment-intensive growth model of the People's Republic of China (PRC) is often viewed as state-driven and …
Persistent link: https://www.econbiz.de/10012205874
China's rise has been the economic success story of the past four decades but economic growth has been slowing and … domestic imbalances have widened. This paper analyses the recent evolution of China's imbalances, the risks they pose to the … economic outlook and the potential impact of a transition to sustainable growth in China on the global and euro area economies …
Persistent link: https://www.econbiz.de/10011792634
The investment-intensive growth model of the People's Republic of China (PRC) is often viewed as state-driven and …
Persistent link: https://www.econbiz.de/10011657882
For the past nearly forty years, China has experienced average annual real GDP growth of close to ten percent, much of … expenditures. This paper documents the role of investment in driving economic growth in China, questions how much longer China can … reduction in investment. It also notes that investment in China remains broad-based across all economic sectors, with little …
Persistent link: https://www.econbiz.de/10011659322
This study explores China's economic growth performance and prospects in global and Asian comparative perspectives …. Using a general framework of cross-country analysis, the study identifies and discusses major factors underlying China … industry-level data to assess structural changes and sectoral growth in the Chinese economy. China's low initial per capita …
Persistent link: https://www.econbiz.de/10012991388
Korea's experience implies that the People's Republic of China's potential growth rates are likely to slow in the coming … People's Republic of China needs to upgrade its institutional quality and improve productivity, particularly in its services …
Persistent link: https://www.econbiz.de/10012992256
China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced …
Persistent link: https://www.econbiz.de/10010231008
In this paper we provide an overview of the growth model in China and its prospects, taking a medium-run to long …-run perspective. Our main conclusions are as follows. First, the still prevailing producer-biased model of managed capitalism in China …-)escalate once global and domestic economic conditions normalise. Third, the fundamental factors underpinning growth in China are …
Persistent link: https://www.econbiz.de/10013082795