Why is China Growing so Fast?

36 Pages Posted: 15 Feb 2006

See all articles by Zuliu Hu

Zuliu Hu

affiliation not provided to SSRN

Multiple version iconThere are 2 versions of this paper

Date Written: July 1996

Abstract

China has been growing at a spectacular rate in recent years, enabling per capita incomes to almost quadruple in only the last decade and a half. This paper identifies the sources of economic growth in China from 1953 to 1994. While capital accumulation played an important role in China`s economic growth throughout the period, it is basically the sharp and sustained increase in productivity that accounts for the unprecedented economic growth observed during the reform period. The productivity gains largely reflect market-oriented reforms, especially the expansion of the nonstate sector, as well as China`s "open door" policy that brought about a dramatic expansion in foreign trade and foreign direct investment.

JEL Classification: O4, O5

Suggested Citation

Hu, Zuliu, Why is China Growing so Fast? (July 1996). IMF Working Paper No. 96/75, Available at SSRN: https://ssrn.com/abstract=882972

Zuliu Hu (Contact Author)

affiliation not provided to SSRN

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