Gold into Base Metals: Productivity Growth in the People's Republic of China During the Reform Period

68 Pages Posted: 25 Aug 2000 Last revised: 21 Dec 2022

See all articles by Alwyn Young

Alwyn Young

University of Chicago - Booth School of Business; National Bureau of Economic Research (NBER)

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Date Written: August 2000

Abstract

With minimal sleight of hand, it is possible to transform the recent growth experience of the People's Republic of China from the extraordinary into the mundane. Systematic understatement of inflation by enterprises accounts for 2.5% growth per annum in the non-agricultural economy during the reform period (1978-1998). The usual suspects, i.e. rising participation rates, improvements in educational attainment, and the transfer of labour out of agriculture, account for most of the remainder. The productivity performance of the non-agricultural economy during the reform period is respectable, but not outstanding. To the degree that the reforms have improved efficiency, these gains may lie principally in agriculture.

Suggested Citation

Young, Alwyn, Gold into Base Metals: Productivity Growth in the People's Republic of China During the Reform Period (August 2000). NBER Working Paper No. w7856, Available at SSRN: https://ssrn.com/abstract=240070

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