"The People's Republic of China (PRC) has been growing at an unprecedented rate since economic reforms were initiated in 1978, achieving an average annual real GDP growth rate of 9.7% over the entire period through 2015. As a consequence, the PRC has achieved a remarkably successful transition...

In this paper, we develop an endogenous growth model that combines structural change with repeated product improvements. There are two sectors in the present paper, one is traditional sector, and the other is modern sector. The technological progress in the traditional sector takes the form of...

This paper reviews economic growth theory in the framework of economic development and explores the possibility of sustained growth in the People's Republic of China (PRC) in the long run. We argue that the PRC has the potential to sustain relatively high growth rates. First, since the...

This book focuses on sustainable and inclusive structural transformation and the need to go beyond aid in a multi-polar world. Historically, structural transformation has been a powerful engine of growth and job creation. Traditional development aid is inadequate to address the bottlenecks for...

This book focuses on sustainable and inclusive structural transformation and the need to go beyond aid in a multipolar world. Historically, structural transformation has been a powerful engine of growth and job creation. Traditional development aid is inadequate to address the bottlenecks for...

Developing countries have for decades been trying to catch up with the industrialized high-income countries, but only a few have succeeded. Historically, structural transformation has been a powerful engine of growth and job creation. Traditional development aid is inadequate to address the...

Opportunities and challenges in China's economic development -- Why the scientific and industrial revolutions bypasses China -- The great humiliation and the socialist revolution -- The comparative advantage-defying, catching-up strategy and the traditional economic system -- Enterprise...