This paper employs a dynamic panel model with the data from the 28 Chinese regions over the period 1953～1998 to test whether convergence exists across regions with the basic Solow model(1956) and the human-capital au...This paper employs a dynamic panel model with the data from the 28 Chinese regions over the period 1953～1998 to test whether convergence exists across regions with the basic Solow model(1956) and the human-capital augmented Solow model(Mankiw,Romer,and Weil(1992)).The regressions in this paper show strong evidence of absolute and conditional β-convergence across regions and over time,which,in combination with the evidence of σ-divergence,suggests that China is currently on the first catching up stage of the inverted-U curve invented by Kutznet(1995),which implies that the poor regions today will eventually catch up the rich regions tomorrow following the development evolution path of Chinese economy.In addition,this paper focuses on the evidence of technical progress variables,and argues that the construction of a technical-progress-accelerating soft-environment should the one of the main focuses by the policy makers in order to attain a sustainable high growth rate in the future.展开更多
文摘This paper employs a dynamic panel model with the data from the 28 Chinese regions over the period 1953～1998 to test whether convergence exists across regions with the basic Solow model(1956) and the human-capital augmented Solow model(Mankiw,Romer,and Weil(1992)).The regressions in this paper show strong evidence of absolute and conditional β-convergence across regions and over time,which,in combination with the evidence of σ-divergence,suggests that China is currently on the first catching up stage of the inverted-U curve invented by Kutznet(1995),which implies that the poor regions today will eventually catch up the rich regions tomorrow following the development evolution path of Chinese economy.In addition,this paper focuses on the evidence of technical progress variables,and argues that the construction of a technical-progress-accelerating soft-environment should the one of the main focuses by the policy makers in order to attain a sustainable high growth rate in the future.
