Will Chinese growth slow after the Lewis turning point
Bibliographic Data
| ID | 12918095 |
|---|---|
| Authors | Ligang Song (0000-0002-5700-2352, Australian National University, corresponding author), Yongsheng Zhang (0000-0002-0572-162X, Environmental Development Centre) |
| Year | 2010 |
| Volume | 3 |
| Issue | 2 |
| Pages | 209-219 |
| Publication date | 2010-09-23 |
| Open Access | No |
| Type | ARTICLE |
| Venue | China Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 1753-8963 • E-ISSN: 1753-8971 |
| Publisher | Routledge (PUBLISHER • GB) |
| DOI | 10.1080/17538963.2010.511926 |
| OpenAlex | W2053256129 |
| Language | EN |
| Citations received | 1 |
| References cited | 19 |
The paper argues that China's economic growth will not necessarily slow after China reaches the Lewis turning point (LTP) when wages and subsequently costs of production, as a result of the exhaustion of the unlimited supplies of labor from rural areas, are increasing. Reaching the turning point leads to significant structural change signifying that China enters a new phase of development in which those endogenously determined factors such as human capital, innovation, R&D expenditure and technological progress begin to play more important roles than contributions made simply by inputs of physical capital, labor and resources in enhancing economic growth. To achieve the continual growth, certain conditions are needed in the transition toward and beyond the turning point including among others the institutional reform which enables China to further transform itself in order to embrace a new mode of economic growth driven predominantly by efficient, sustainable and equitable considerations
Capital (architecture · China · Development economics · Economic system · Economics · Human capital · Labour economics · Macroeconomics · Market economy · New normal · Order (exchange · Point (geometry · Political science · Production (economics · Technical progress · Technological change · Tipping point (physics · Turning point · Economic Growth and Productivity · Engineering · Fiscal Policy and Economic Growth · Regional Economic and Spatial Analysis
The Mystery of Economic Growth
Europe's Postwar Growth
The Tyranny of Numbers
On the mechanics of economic development
Unlimited Labour
Economic Growth and Income Inequality
Economic Development with Unlimited Supplies of Labour
Steady Endogenous Growth with Population and R. & D. Inputs Growing
Increasing Returns and Long-Run Growth
Endogenous Technological Change
The Limits to Growth
| Citations per year | 0.08 |
|---|---|
| Citation span | 2013 - 2013 (1) |
| Highly cited | No |