scholarly journals Understanding China's Growth: Past, Present, and Future

2012 ◽  
Vol 26 (4) ◽  
pp. 103-124 ◽  
Author(s):  
Xiaodong Zhu
Keyword(s):  
Productivity Growth ◽  
Capital Investment ◽  
Average Rate ◽  
Economic Incentives ◽  
Economic Transformation ◽  
Living Standard ◽  
Per Capita Gdp ◽  
The World ◽  
Per Capita ◽  
The U.S

The pace and scale of China's economic transformation have no historical precedent. In 1978, China was one of the poorest countries in the world. The real per capita GDP in China was only one-fortieth of the U.S. level and one-tenth the Brazilian level. Since then, China's real per capita GDP has grown at an average rate exceeding 8 percent per year. As a result, China's real per capita GDP is now almost one-fifth the U.S. level and at the same level as Brazil. This rapid and sustained improvement in average living standard has occurred in a country with more than 20 percent of the world's population so that China is now the second-largest economy in the world. I will begin by discussing briefly China's historical growth performance from 1800 to 1950. I then present growth accounting results for the period from 1952 to 1978 and the period since 1978, decomposing the sources of growth into capital deepening, labor deepening, and productivity growth. But the main focus of this paper will be to examine the sources of growth since 1978, the year when China started economic reform. Perhaps surprisingly, given China's well-documented sky-high rates of saving and investment, I will argue that China's rapid growth over the last three decades has been driven by productivity growth rather than by capital investment. I also examine the contributions of sector-level productivity growth, and of resource reallocation across sectors and across firms within a sector, to aggregate productivity growth. Overall, gradual and persistent institutional change and policy reforms that have reduced distortions and improved economic incentives are the main reasons for the productivity growth.

scholarly journals What rates of productivity growth would be required to offset the effects of population aging? A study of twenty industrialized countries

2018 ◽  
Vol 45 (3-4) ◽  
pp. 113 ◽  
Author(s):  
Frank T. Denton ◽  
Byron Spencer
Keyword(s):  
Productivity Growth ◽  
Population Distribution ◽  
Population Aging ◽  
Average Rate ◽  
Industrialized Countries ◽  
Aging Effects ◽  
Per Capita Gdp ◽  
Arithmetic Average ◽  
The World ◽  
Per Capita

A shift in population distribution toward older ages is underway in industrialized countries throughout the world, and will continue well into the future. We provide a framework for isolating the pure effects of population aging on per capita GDP, employ the framework in calculations for twenty OECD countries, and derive the rates of productivity growth required to offset those effects. Taking the twenty countries as a whole, the average productivity growth rate (a simple unweighted arithmetic average) required to just offset aging effects over the full 30 years from 2015 to 2045 would be 4.2 per cent per decade, or approximately 0.4 per cent per year; to achieve an overall increase of 1 per cent in GDP per capita would require an average rate of 15.1 per cent per decade, or 1.4 per cent per year. We consider also some labour-related changes that might provide offsets, for comparison with productivity.

scholarly journals United States

2017 ◽  
Vol 17 (239) ◽  
Author(s):  
Keyword(s):  
United States ◽  
Labor Force Participation ◽  
Productivity Growth ◽  
Full Employment ◽  
Income Polarization ◽  
Advanced Economies ◽  
The World ◽  
Job Growth ◽  
Per Capita ◽  
The U.S

The U.S. is in its third longest expansion since 1850, job growth has been persistently strong, inflation is subdued, and the economy is effectively at full employment. However, like many other advanced economies, the U.S. is confronting secular shifts on multiple fronts. These include technological change that is reshaping labor and product markets, low productivity growth, rising skills premia, and an aging population. Even with high per capita income and one of the most flexible, competitive, and innovative economies in the world, the U.S. model appears to be having difficulties adapting to these changes. Most critically, relative to historical performance, growth has been too low and too unequal. The challenge for the U.S. administration is to realign policies to raise productivity and labor force participation, reduce poverty and income polarization, and help restore the economy’s adaptability and dynamism.

scholarly journals A Study of the Environmental Issues Associated with the Dominican RepublicCentral American Free Trade Agreement (DR-CAFTA)

2011 ◽  
Vol 8 (1) ◽  
Author(s):  
Shyamalendu Sarkar
Keyword(s):  
Free Trade ◽  
Capital Investment ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
The United States ◽  
Economic Incentives ◽  
Central American ◽  
Environmental Objectives ◽  
Environmental Requirements ◽  
The U.S

The Dominican Republic-Central American Free Trade Agreement (DR-CAFTA) with the United States was passed on July 28, 2005. The main goal of DR-CAFTA is to create a free trade zone for economic development. The Agreement is highly controversial with many contentious issues including concern about the environment, which is the focus of this study. The concern is that the environmental objectives are expected to be subservient to trade and other economic incentives which will lead to further deterioration of the environment in countries where the environmental standards are already low. The effects on the U.S. environment are expected to be minimal. However, it is feared that the U.S. manufacturing facilities may relocate to Central American countries to take advantage of low wages and low environmental requirements, which may result in loss of jobs and capital investment in the U.S. However, overall DR-CAFTA is expected to be beneficial in many ways, including an increase in trade and economic growth in all participating countries.

Determinants of Terrorism in South Asia

2020 ◽  
pp. 1598-1617
Author(s):  
Ramesh Chandra Das ◽  
Sovik Mukherjee
Keyword(s):  
Youth Unemployment ◽  
Political Stability ◽  
Economic Factors ◽  
Education Expenditure ◽  
Per Capita Gdp ◽  
Panel Models ◽  
The World ◽  
Per Capita ◽  
Dynamic Panel Models ◽  
Socio Economic Factors

Terrorist activities in the post-Paris Peace Treaties have emerged as one of the most perilous agendas that are troubling the world economies and political figures in securing their nations and regions. Several socio-economic factors were evidenced to be the crucial factors in determining terrorist activities all around the world. The present article strives to identify the significance of several socio economic factors, namely, refugee population, access to good sanitation facilities, youth unemployment rate, percentage of education expenditure to GDP, percentage of military expenditure to GDP, per capita GDP and political stability in the panel of seven South Asian countries and China for the period 2002-2016. By applying both static and dynamic panel models, the article observes that all of the selected variables explain the terrorism index with expected signs. The article thus prescribes that the governments of the selected countries should concentrate on allocating their budgets on the improvements of sectors underlying the associated indicators.

The Determinants of U.K. Investment Abroad, 1870–1913: The U.S. Case

1974 ◽  
Vol 34 (4) ◽  
pp. 980-1007 ◽  
Author(s):  
Michael Edelstein
Keyword(s):  
Economic History ◽  
Capita Income ◽  
National Income ◽  
Industrial Output ◽  
Per Capita Income ◽  
The World ◽  
Per Capita ◽  
Foreign Lending ◽  
The U.S

Perhaps because the world had never before or since seen such a large proportion of national income devoted to accumulating overseas assets, the processes of British accumulation in the period from 1870 to 1913 have long been given disproportionate attention in the study of modern British economic history. Calculations based on C. H. Feinstein's latest studies of U.K. income, expenditures and product suggest that roughly half of the nation's annual savings took the form of net foreign lending during these years, savings averaging slightly less than ten percent of net national income. Undoubtedly, interest in these matters has been further augmented by the intriguing problem of the United Kingdom's loss of world leadership in both industrial output and per capita income during these same years.

scholarly journals Rain, Riches, and Empire: The Relationship between Nations Ruling Distant Lands, Nations of Great Wealth, and Regions of Regular Moderate Atmospheric Precipitation

2017 ◽  
Vol 9 (3) ◽  
pp. 455-469 ◽  
Author(s):  
L. Bruce Railsback
Keyword(s):  
North America ◽  
Small Proportion ◽  
Average Rate ◽  
Atmospheric Precipitation ◽  
Eastern North America ◽  
Human History ◽  
Per Capita Gdp ◽  
Per Capita ◽  
Human Construction ◽  
The Relationship

Abstract Two of the great questions of human history and economics are why some nations held far-flung empires and why some presently enjoy great wealth. One factor that should be included in the inevitably multifactorial answer to these questions is regular moderate precipitation (precipitation with an average rate between 30 and 120 mm for each month). Only a small proportion of Earth’s surface has regular moderate precipitation, and most of that area is in Europe and eastern North America. Strikingly, of the 13 nations that held geographically discontinuous multicontinental transoceanic empires, 12 overlap with regions of regular moderate precipitation. Similarly, of the 20 nations with the greatest per capita GDP in 2015, 16 coincide with regions of regular moderate precipitation. These relationships are presumably rooted in the greater success, or lesser inhibition, of human construction of infrastructure, husbandry of livestock, and cultivation of crops, some combination of which likely allowed industrialization, projection of geopolitical power, and accumulation of wealth. One instructive example is that of China, which has a climate superficially like that of Europe and eastern North America but no regions of regular moderate rainfall, and which neither developed an overseas empire nor is among the world’s nations with greatest per capita GDP. Furthermore, concentration of nations holding empires and wealth in the Northern Hemisphere and their absence from the south can be linked to the coincidence that the Southern Hemisphere’s latitudinal zone of regular moderate rainfall is over the Southern Ocean, where there is little land on which human societies could have enjoyed the benefits of that supportive climate.

Brazil’s Northeast

2018 ◽  
Author(s):  
Alexandre Rands Barros
Keyword(s):  
Human Capital ◽  
Educational Policy ◽  
Productivity Growth ◽  
Social Groups ◽  
National Average ◽  
Agricultural Export ◽  
Per Capita Gdp ◽  
Poor Region ◽  
Per Capita ◽  
Brazilian Northeast

The Brazilian Northeast is a large poor region, which was the first to be colonized in Brazil. The region experienced some dynamism as a result of its early role as a centre of the agricultural export economy. However, historical and political circumstances resulted in a society in which there was a successive failure to build up the level of human capital level in the region. In particular, low access to political power of disadvantaged social groups prevented the implementation of an inclusive educational policy. This generated low per capita GDP and productivity growth, when compared to the national average. The prospects that some convergence with the national average will occur are only partial and restricted.

scholarly journals Effects of Economic Growth, Trade Openness, and Urbanization on Carbon Dioxide Emissions in Ghana, 1960 to 2014

2020 ◽  
Vol 7 (2) ◽  
pp. 9 ◽  
Author(s):  
Forster Kwame Boateng
Keyword(s):  
Carbon Dioxide ◽  
Low Income ◽  
Carbon Dioxide Emissions ◽  
Trade Openness ◽  
Economic Transformation ◽  
Total Carbon ◽  
Annual Data ◽  
Middle Income ◽  
Per Capita Gdp ◽  
Per Capita

This paper examines the effects of per capita gross domestic product (GDP), trade openness, and urbanization on the total carbon dioxide emissions of Ghana using time-series annual data from 1960 to 2014. The 55-year period, from 1960 to 2014, covered economic transformation of Ghana from a low-income agrarian country to a lower-middle income country. The analysis used the autoregressive distributed lag method of co-integration. The results showed that per capita GDP, trade openness, and urbanization all significantly influenced both long-run and short-run levels of carbon dioxide emissions in Ghana. However, increased trade openness led to reduced total emissions, while rising per capita GDP and increased urbanization both increased total emissions albeit at different intensity levels.

scholarly journals Dependency and Underdevelopment: The Nepalese Context

1970 ◽  
Vol 11 ◽  
pp. 202-220
Author(s):  
Samira Luitel
Keyword(s):  
World Bank ◽  
Population Increase ◽  
Gdp Growth ◽  
Per Capita Gdp ◽  
The World Bank ◽  
World Bank Report ◽  
The World ◽  
Per Capita ◽  
Sub Saharan ◽  
Productive Land

The World Bank report (1991) mentioned that "Nepal is one of the world's poorest countries. It ranks 115th in per capita GNP out of 120 countries. With respect to life expectancy, it ranks 103rd out of 118 reporting countries. It is one of the constellations of countries characterized by rapid population increase, low or negative per capita GDP growth and a slow transition out of a subsistence agricultural economy. It exhibits many of the characteristics of similar sub-Saharan African economies, including a limited productive land base, a land-locked location, and a very low level of exports."   DOI: 10.3126/opsa.v11i0.3037 Occasional Papers in Sociology and Anthropology Vol.11 2009 202-220

Evaluating the World Bank’s Major Reports: A Review Essay

1988 ◽  
Vol 16 (2) ◽  
pp. 5-10
Author(s):  
Robert S. Browne
Keyword(s):  
Review Essay ◽  
Commodity Prices ◽  
Terms Of Trade ◽  
Energy Prices ◽  
Social Infrastructure ◽  
Per Capita Gdp ◽  
Economic Stagnation ◽  
The World ◽  
Per Capita

As the decade of the 1970’s drew to a close, Africa’s leaders were becoming concerned over the economic stagnation visibly creeping across the Continent. The dramatic escalation in energy prices, combined with the general world inflation, had palpably shifted the terms of trade against the African petroleum importers, effectively neutralizing the higher commodity prices which African exports had enjoyed in the earlier years of the decade. Per capita GDP figures, which in most of Africa had been rising since independence, had begun to slip. In some countries the physical and social infrastructure was clearly detriorating.

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