Determinants of economic growth in China: Private enterprise,education, and openness |
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| Affiliation: | 1. Department of Economics, Hannam University, 70 Hannamro, Daedeokhu,Daejeon 306-791 Republic of Korea;2. Department of Chinese Studies and Economics, Hannam University,70 HannamroDaedeokhu,Daejeon 306-791 Republic of Korea;1. School of Economics, Ocean University of China, Qingdao, China;2. Institute of Marine Economics and Management, Shandong University of Finance and Economics, Jinan, China;1. School of Construction Management and Real Estate, International Research Center for Sustainable Built Environment, Chongqing University, Chongqing, China;2. School of Computing Engineering and Mathematics, Western Sydney University, Locked Bag 1797, Penrith, NSW 2751, Australia;3. School for Environment and Sustainability, University of Michigan, MI, United States;1. Australian Centre on China in the World, The Australian National University, Canberra, ACT 0200, Australia;2. Crawford School of Public Policy, The Australian National University, Canberra, ACT 0200, Australia |
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| Abstract: | This essay investigates the source of cross-provincial variations of economic growth in China. A statistical analysis of data on 29 provinces, municipalities, and autonomous regions from 1978 through 1989 confirms the findings in the literature of empirical studies of economic growth based upon cross-country empirical analyses, and uncovers some characteristics unique to China. We find that private and semi-private enterprises, higher education and international trade all lead to an increase in economic growth in China. We also find that high fertility, high inflation, and the presence of state-owned enterprises (SOE) reduce growth rates among the provinces. Finally, our evidence indicates that the convergence hypothesis holds in China. |
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