We study the dispersion in rates of provincial economic- and TFP growth in China. Our results show that regional growth patterns can be understood as a function of several interrelated factors, which include investment in physical capital, human capital, and infrastructure capital; the infusion...

This paper develops a method for interpreting growth accounting studies in terms of the neoclassical growth model. In particular it shows that the growth accounting contribution of capital reflects the distance of the economy form its steady state income level. The method is applied to studies...

This paper constructs a growth model that is consistent with salient features of the Chinese growth experience since 1992: high output growth, sustained returns on capital investments, extensive reallocation within the manufacturing sector, falling labor share and accumulation of a large foreign...

Views of the future China vary widely. While some believe that the collapse of China is inevitable, others see the emergence of a new superpower that increasingly poses a threat to the U.S. This paper examines the economic growth prospects of China over the next two decades. Extrapolating past...

Following Bai (2004) and Bai and Ng (2004) we estimate a common factor representation of a panel of output series for India, disaggregated by 15 states and 14 broad industry groups. We find that a single common "V-Factor" accounts for a large part of the significant shift in the cross-sectional...

The recent meltdown in some Asian economies highlights the urgent need of more proper measures of economic performance. Measures such as GNP growth rates alone are not good enough in revealing the true strength of an economy unless costs of capitals are also examined. In recent years, there have...

Despite these disagreements about the nature of the role of government, particularly in Taiwan and Korea, the pattern of economic growth and structural change observed in developing Asia has been broadly consistent with classical and neoclassical models of economic growth and development which...

This paper is a first attempt to empirically evaluate some competing hypotheses for the Austrian growth performance. We find that the real appreciations, gross investment, a low duration of unemployment and high youth employment exhibit a significant influence on economic growth. This validates...

This paper examines the effects of structural change, long-term TFP trend and marginal return to capital on China’s economic growth, comparing such effects with those in the other East Asian economies. Our empirical results show that China’s TFP converges to a higher level, and that the...

Using data on formal manufacturing plants in India, we report a large but imprecise speedup in productivity growth starting in the early 1990s (e.g., 1993-2007 compared to 1980-1992). We trace it to productivity growth within large plants (200 workers or more), as opposed to reallocation across...