Supply-Side Structural Reform in the Service Industry and Escaping the Middle Income Trap
Bibliographic Data
| ID | 21489302 |
|---|---|
| Authors | Jianhua Zhang (0009-0002-8316-7545, Huazhong University of Science and Technology), Zhang Jianhua (Huazhong University of Science and Technology), Cheng Wen (0009-0001-3572-7192, Huazhong University of Science and Technology) |
| Year | 2021 |
| Volume | 42 |
| Issue | 1 |
| Pages | 77-96 |
| Publication date | 2021-01-02 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Social Sciences in China (JOURNAL) |
| Journal identifiers | ISSN: 0252-9203 • E-ISSN: 1940-5952 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/02529203.2021.1895502 |
| OpenAlex | W3145023158 |
| Language | EN |
| References cited | 10 |
The internal consumption and production structure of the service industry that now dominates the Chinese economy needs to be optimized. Introducing supply-side structural reform to improve the in-depth integration of advanced manufacturing and the modern service industry and promoting a strong domestic market is the key to escaping the middle income trap. We use 1950-2010 data from 45 non-oil-exporting economies representing the structural evolution of the service industry worldwide to compare Asian economies that have passed through the middle income trap with Latin American counterparts that remain stuck in the trap, and thence proceed to construct a matched model that covers the consumption and production service industries and their supply of human capital, with the aim of identifying the formative mechanisms and conditions for escaping the middle income trap through upgrading the structure of the service industry. Substantially developing the production service sector, raising the supply of public services so as to cultivate the quantity and quality of human capital, and matching senior-level human capital with knowledge-intensive service industries will propel the upgrading and transformation of China’s economic structure toward high-quality development
Business · China · Economics · Human capital · Industrial organization · Market economy · Microeconomics · Middle income trap · Tertiary sector of the economy · Economic Growth and Productivity · Global trade and economics · Regional Economic and Spatial Analysis · Marketing
| Citation velocity | historical |
|---|---|
| Highly cited | No |