China has achieved impressive growth over the last three decades. However, there has been debate over the sources of … quantifying their contributions to growth. In this paper, we develop a three-sector dynamic model to quantify the sources of China … continues to absorb more than half of all fixed investment. If capital had been allocated efficiently, China could have achieved …

our key results to alternative data sets. -- China ; investment ; growth ; productivity ; capital market distortions …China has achieved impressive growth over the last three decades. However, there has been debate over the sources of … quantifying their contributions to growth. In this paper, we develop a three-sector dynamic model to quantify the sources of China …