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Frontiers of Economics in China

Front Econ Chin    2011, Vol. 6 Issue (4) : 535-555     https://doi.org/10.1007/s11459-011-0146-0
research-article
Transition of China’s Growth Pattern
Ding Lu()
Department of Economics, University of the Fraser Valley, Abbotsford, BC V2S 7M8, Canada
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Abstract

China has achieved hyper economic growth in the past three decades. The achievement, though spectacular, is nothing incomprehensible to modern economic theories. A number of characteristic factors, short-term or long-term, have been favorable to fast growth. The market-oriented reforms that started thirty years ago have installed the preconditions for the economy to benefit from these factors. As China rises to the rank of middle-income countries, some conditions that used to support fast economic growth are now undergoing profound changes. These changes have important implications on capital formation and productivity growth, the two major drivers of growth. With the era of hyper economic growth coming to its end, the growth pattern of the Chinese economy is in transition. That calls for a transformation of government’s role in the economy to answer the challenges of this transition.

Keywords economic growth      transition      labor      capital      TFP      China     
Corresponding Author(s): Ding Lu,Email:ding.lu@ufv.ca   
Issue Date: 05 December 2011
 Cite this article:   
Ding Lu. Transition of China’s Growth Pattern[J]. Front Econ Chin, 2011, 6(4): 535-555.
 URL:  
http://journal.hep.com.cn/fec/EN/10.1007/s11459-011-0146-0
http://journal.hep.com.cn/fec/EN/Y2011/V6/I4/535
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