This paper presents an analysis of the sources of China＇s economic growth from the perspective of final demand and provides a new approach to China＇s growth pattern. Using input-output data from China＇s National Bu...This paper presents an analysis of the sources of China＇s economic growth from the perspective of final demand and provides a new approach to China＇s growth pattern. Using input-output data from China＇s National Bureau of Statistics （NBS）, this paper employs an input-output model for a systematic analysis of the driving forces behind China＇s economic growth between 1987 and 2007. The findings illustrate a few points. First, final demand including consumption, investment, and export, experienced a downward trend. The majority of the output derivative effect came from manufacturing industries, with a significant shift from light industries to heavy industries. Second, between 1987 and 2007 the structure of China＇s economy transitioned from dependence on domestic demand to export-driven growth. Third, China＇s economic growth was driven by final demands, but the driving force mix experienced fundamental changes. Lastly, this paper makes suggestions for China＇s economic growth model based on an empirical analysis.展开更多
Nowadays, more than 50% of the world population live in middle-income economies. Economies in the middle-income development stage are confronted with a number of challenges, such as economic restructuring, industrial ...Nowadays, more than 50% of the world population live in middle-income economies. Economies in the middle-income development stage are confronted with a number of challenges, such as economic restructuring, industrial upgrade and income growth. Therefore, academia around the worm have paid much attention to theoretical and empirical researches of the ＂middle income trap＂ and long-term trends of global economic growth. Based on analyses about the long-term growth path of the world economy and the characteristics of different stages of economic development, this paper defines the＂middle income trap＂ and its characteristics and examines, through a large number of cases from different economies, the reasons why ＂growth slowdown＂ arises during the middle-income development stage. These theoretic and empirical researches have reference value and heuristic meaning for China to actively respond to the challenges of the ＂middle income trap＂.展开更多
文摘This paper presents an analysis of the sources of China＇s economic growth from the perspective of final demand and provides a new approach to China＇s growth pattern. Using input-output data from China＇s National Bureau of Statistics （NBS）, this paper employs an input-output model for a systematic analysis of the driving forces behind China＇s economic growth between 1987 and 2007. The findings illustrate a few points. First, final demand including consumption, investment, and export, experienced a downward trend. The majority of the output derivative effect came from manufacturing industries, with a significant shift from light industries to heavy industries. Second, between 1987 and 2007 the structure of China＇s economy transitioned from dependence on domestic demand to export-driven growth. Third, China＇s economic growth was driven by final demands, but the driving force mix experienced fundamental changes. Lastly, this paper makes suggestions for China＇s economic growth model based on an empirical analysis.
文摘Nowadays, more than 50% of the world population live in middle-income economies. Economies in the middle-income development stage are confronted with a number of challenges, such as economic restructuring, industrial upgrade and income growth. Therefore, academia around the worm have paid much attention to theoretical and empirical researches of the ＂middle income trap＂ and long-term trends of global economic growth. Based on analyses about the long-term growth path of the world economy and the characteristics of different stages of economic development, this paper defines the＂middle income trap＂ and its characteristics and examines, through a large number of cases from different economies, the reasons why ＂growth slowdown＂ arises during the middle-income development stage. These theoretic and empirical researches have reference value and heuristic meaning for China to actively respond to the challenges of the ＂middle income trap＂.
