In recent years, some developing Asian countries claim to have started shifting emphasis from export-led to domestic-demand-led growth policies with a view to achieving a more balanced growth strategy. This paper evaluates empirically how far this shift has gone. The evaluation - based on an...

Since the early 1990s, the number of studies using neoclassical models to understand the Chinese economy has mushroomed. In this paper, we review two examples of estimation of the rate of technical progress and one attempt at modelling investment. We identify their shortcomings and the problems...

The global crisis of 2007–09 affected developing Asia largely through a decline in exports to the developed countries and a slowdown in remittances. This happened very quickly, and by 2009 there were already signs of recovery (except on the employment front). This recovery was led by China’s...

Since the early 1990s, the number of papers estimating econometric models and using other quantitative techniques to try to understand different aspects of the Chinese economy has mushroomed. A common feature of some of these studies is the use of neoclassical theory as the underpinning for the...

From 1962 to 2013, the People's Republic of China's (PRC's)agricultural employment share declined from 82% to 31%. The transfer of workers out of low-productivity agriculture is a fundamental pillar of the PRC's aspirations to progress and eventually become a high-income economy. We hypothesize...

We estimate the People's Republic of China's (PRC's potential growth rate in 2012 at 8.7% and at 9.2% for the average of 2008-2012, about the same as the average actual growth rate for this period. This rate is the natural growth rate, that is, the rate consistent with a constant unemployment...

The key factor underlying China's fast development during the last 50 years is its ability to master and accumulate new and more complex capabilities, reflected in the increase in diversification and sophistication of its export basket. This accumulation was policy induced and not the result of...

Since the early 1990s, the number of papers estimating econometric models and using other quantitative techniques to try to understand different aspects of the Chinese economy has mushroomed. A common feature of some of these studies is the use of neoclassical theory as the underpinning for the...