The dynamics of catch-up and skill and technology upgrading in China |
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| Institution: | 1. V. A. Trapeznikov Institute of Control Sciences of Russian Academy of Sciences, Moscow 117997, Russia;2. ITMO University, St. Petersburg 197101, Russia;3. HSE Tikhonov Moscow Institute of Electronics and Mathematics, Moscow 123458, Russia;1. Department of Economics, School of Economics and Management, Tsinghua University, Room 525, Weilun Building, Beijing 100084, China;2. Department of Economics, School of Economics and Management, Tsinghua University, Room 546, Weilun Building, Beijing 100084, China |
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| Abstract: | This paper accounts for China’s economic growth since 1980 in a unified endogenous growth model in which a sequencing of physical capital accumulation, human capital accumulation and innovation drives the rise in China’s aggregate income. The first stage is characterized by physical capital accumulation. The second stage includes both physical and human capital accumulation, and in the final stage innovation is added to the mix. Model calibrations indicate that the growth model can generate a trajectory that accords well with the different stages of development in China. |
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| Keywords: | China Economic growth Transitional dynamics |
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