Manu, Ana-Simona; McAdam, Peter; Willman, Alpo - 2018
We offer a macroeconomic assessment of China’s Reform Period, highlighting several neglected channels underlining its … the elasticity of factor substitution and the time-varying pattern of factor-saving technical change. The latter we relate … then draw upon our estimated framework to rationalize China’s high and rising savings ratio as well as the dynamic nature …