Through exploring the limitation of the neoclassical theory of economic growth,which classifies growth as a homogenous process,this paper reconciles various theories of economic development and explains the rises and ...Through exploring the limitation of the neoclassical theory of economic growth,which classifies growth as a homogenous process,this paper reconciles various theories of economic development and explains the rises and falls of economic growth under a unified framework,focusing on incentives of the accumulation of physical and human capital.This paper classifies instances of economic growth into four categories—the Malthusian poverty trap,the Lewis dual model of economic development,the Lewis turning point,and Solow neoclassical growth model.This paper conducts empirical analysis of these categories of economic development as they are relevant to Chinese economic growth and discusses policy implications therein.展开更多
This paper employs an economic approach to analyze the influence of Confucian filial piety on economic growth in ancient China. In the highly imperfect credit market of the time, filial piety, as a unique mechanism fo...This paper employs an economic approach to analyze the influence of Confucian filial piety on economic growth in ancient China. In the highly imperfect credit market of the time, filial piety, as a unique mechanism for fulfilling intergenerational contracts, could to some extent solve problems of verifiability and commitment and thus effectively promote economic growth by increasing savings. However, the implementation and maintenance of filial piety were not spontaneous; it required external intervention by the rulers. Rulers faced a tradeoff when allocating resources between production and war. It was this tradeoff that determined the level of filial piety in society. A comparison between the civilizations of the Central Plains, nomadic Xiongnu society and ancient Rome verifies our proposition and thus explains in some degree the difference between Eastern and Western civilizations.展开更多
文摘Through exploring the limitation of the neoclassical theory of economic growth,which classifies growth as a homogenous process,this paper reconciles various theories of economic development and explains the rises and falls of economic growth under a unified framework,focusing on incentives of the accumulation of physical and human capital.This paper classifies instances of economic growth into four categories—the Malthusian poverty trap,the Lewis dual model of economic development,the Lewis turning point,and Solow neoclassical growth model.This paper conducts empirical analysis of these categories of economic development as they are relevant to Chinese economic growth and discusses policy implications therein.
文摘This paper employs an economic approach to analyze the influence of Confucian filial piety on economic growth in ancient China. In the highly imperfect credit market of the time, filial piety, as a unique mechanism for fulfilling intergenerational contracts, could to some extent solve problems of verifiability and commitment and thus effectively promote economic growth by increasing savings. However, the implementation and maintenance of filial piety were not spontaneous; it required external intervention by the rulers. Rulers faced a tradeoff when allocating resources between production and war. It was this tradeoff that determined the level of filial piety in society. A comparison between the civilizations of the Central Plains, nomadic Xiongnu society and ancient Rome verifies our proposition and thus explains in some degree the difference between Eastern and Western civilizations.