Chinas Remarkable Economic Growth

Hardcover | March 28, 2012

byJohn Knight, Sai Ding

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How has the Chinese economy managed to grow at such a remarkable rate - no less than ten per cent per annum - for over three decades? This well-integrated book combines economic theory, empirical estimation, and institutional analysis to address one of the most important questions facingcontemporary economists. A common thread that runs throughout the book is the underlying political economy: why China became a 'developmental state', and how it has maintained itself as a 'developmental state'.The book examines the causal processes at work in the evolution of China's institutions and policies. It estimates cross-country and cross-province growth equations to shed light on the proximate, and some of the underlying, determinants of the growth rate. It explores important consequences ofChina's growth, posing a series of key questions, such as: is the economy running out of unskilled labour; why and how has inequality risen; has economic growth raised happiness; what are the social costs of the overriding priority accorded to growth objectives; can China continue to grow rapidly,or will the maturing economy, or the macroeconomic imbalances, or financial crisis, or social instability, bring it to an end?Based mainly on original research, this book will be of interest to growth economists, development economists, transition economists, China specialists, policy-makers, and indeed all those who are intrigued by the Chinese growth phenomenon.

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How has the Chinese economy managed to grow at such a remarkable rate - no less than ten per cent per annum - for over three decades? This well-integrated book combines economic theory, empirical estimation, and institutional analysis to address one of the most important questions facingcontemporary economists. A common thread that run...

John Knight has conducted research on the Chinese economy for more than two decades, and has published many journal articles, including papers on income distribution, poverty, wages, migration, education, subjective well-being, and economic growth. His books on China include The Rural-Urban Divide: Economic Disparities and Interaction...

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Format:HardcoverDimensions:424 pages, 9.21 × 6.14 × 0.01 inPublished:March 28, 2012Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199698694

ISBN - 13:9780199698691

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Table of Contents

PART 1: IntroductionJohn Knight: 1. Setting the Stage2. Approaches to Understanding Economic Growth3. The Evolution of Economic ReformPART II: The Determinants of China's Economic GrowthSai Ding and John Knight: 4. China in a Cross-Country Growth Perspective5. The Basic Cross-Province Growth Equation6. The Role of Physical and Human Capital Formation7. The Role of Structural Change: Trade, Ownership, Industry8. Why Does China Invest so Much?PART III: The Consequences of China's Economic GrowthJohn Knight: 9. Economic Growth and the Labour Market10. Economic Growth and Inequality11. Economic Growth and HappinessPART IV: ConclusionJohn Knight: 12. Economic Growth in China: Prospect13. Economic Growth in China: Retrospect