The purpose of this paper is to highlight a version of the Balassa-Samuelson effect for emerging countries with a new dataset. More than the catching-up effect, we will measure the convergence for three emerging countries: Brazil/China/India. We will compare the convergence between these...

The People's Republic of China's (PRC) remarkable growth performance over the last 3 decades has been associated to very robust export growth, so much so that many refer to it as a clear example of export-led growth (ELG). Using the concept of the balance-of-payments equilibrium (BOPE) growth...

By preventing large-scale unemployment during China's economic transition, state-owned enterprises (SOEs) helped maintain social stability, which supported the development of non-state sectors through a positive externality. Yet this burden reduced the productive efficiency of SOEs. Using a...

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...

It is increasingly accepted that the gross domestic product (GDP) growth rate of the People's Republic of China (PRC) is slowing down, but the reasons for the slowdown are not yet well understood. Part of the reason is that growth in all countries that reach high-income status slows down when...

Over the last decade, a growing body of literature dealing with the phenomenon of the "middle-income trap" (MIT) has emerged. The term MIT usually refers to countries that have experienced rapid growth and thus reached the status of a middle-income country (MIC) in a very short period of time,...

Over the last decade, a growing body of literature dealing with the phenomenon of the “middle-income trap” (MIT) has emerged. The term MIT usually refers to countries that have experienced rapid growth and thus reached the status of a middle-income country (MIC) in a considerably short...