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- W2043230818 abstract "Based on economic growth theory and the World Bank's analytical framework relating to the quality of growth, the present paper constructs a framework that encompasses physical, international, human, natural and knowledge capital to synthetically interpret economic development. After defining the five types of capital and total capital, we analyze the dynamic changes of these types of capital in China and in other countries. The results show that since China's reform and opening up, knowledge, international, human and physical capital have grown rapidly, with speeds of growth higher than that of economic growth. As the five types of capital have all increased at varying paces, the savings level of total capital in China has quadrupled in 25 years and overtook that of the USA in the 1990s. The changes in the five types of capital and total capital reveal that there are progressively multiple driving forces behind China's rapid economic development. Implications for China's long-term economic development are thereby raised." @default.
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- W2043230818 date "2007-05-01" @default.
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- W2043230818 title "Multiple Forces Driving China's Economic Development: A New Analytic Framework" @default.
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- W2043230818 doi "https://doi.org/10.1111/j.1749-124x.2007.00071.x" @default.
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