The Growth Sources, Existing Potential and the Future Growth Interval in China's Economy

ZHENG Yi

Volume 35 Issue 2

May 2021

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ZHENG Yi. The Growth Sources, Existing Potential and the Future Growth Interval in China's Economy[J]. Journal of Guangdong University of Finance & Economics, 2020, 35(2): 4-19.

Citation:

ZHENG Yi. The Growth Sources, Existing Potential and the Future Growth Interval in China's Economy[J]. Journal of Guangdong University of Finance & Economics, 2020, 35(2): 4-19.

ZHENG Yi. The Growth Sources, Existing Potential and the Future Growth Interval in China's Economy[J]. Journal of Guangdong University of Finance & Economics, 2020, 35(2): 4-19.

Citation:

ZHENG Yi. The Growth Sources, Existing Potential and the Future Growth Interval in China's Economy[J]. Journal of Guangdong University of Finance & Economics, 2020, 35(2): 4-19.

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The Growth Sources, Existing Potential and the Future Growth Interval in China's Economy

ZHENG Yi

Academy of Lixin, Shanghai Lixin University of Accounting and Finance, Shanghai 201620, China

Received Date: 2019-09-16
Available Online: 2021-05-15
Publish Date: 2020-04-28

Abstract

Abstract

Based on the data of inputs and outputs of China, the United States, Japan and several other economies during 1950-2017, this paper examines the power of the Chinese catching up in the past through analyzing the sources of economic growth for sample economies, to predict potential economic growth interval of China. The empirical results show that the accumulation of material factors, the improvement of labor quality and the potential growth space maintain the resilience of China's economic growth; the economic growth of China is mainly due to the"contribution"of physical capital and TFP during 1980-2014, with the contribution rate of 43. 5% and 41% respectively; as to the level of China's per capital income, productivity, factor price and other aspects, China is far away from the United States, but there is still a large growth space for economic development in the future. Empirical analysis based on growth extrapolation indicates that China's GDP growth rate in 2018-2023 and 2023-2028 will still maintain 6%-7% and 5%-6% respectively.
- China's economy,
- economic growth,
- GDP,
- income level,
- labor productivity,
- factor price

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References(30)

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