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- W3111177216 abstract "This paper estimates China’s growth regime based on Bhaduri-Marglin model, using the provincial panel data from 1978 to 2017. It contributes to related empirical studies in that: (1) it tests that the responsiveness of investment growth to labor share increase is dependent on the existed labor share level; (2) it uses the labor share changes adjusted for the sectoral-change effects as a more appropriate proxy for distributive changes; and (3) it manifests the necessity of recognizing regional heterogeneity in parameters for a large economy. The results show that at 2017 level, whereas the eastern area is weakly profit-led, the inland area is strongly wage-led, and an even increase of labor share in all areas lead to more rapid growth of the whole economy. At this stage, China needs pro-labor institutional reforms to restore rapid, balanced, and sustainable growth." @default.
- W3111177216 created "2020-12-21" @default.
- W3111177216 creator A5070490155 @default.
- W3111177216 date "2020-12-09" @default.
- W3111177216 modified "2023-10-14" @default.
- W3111177216 title "Is China’s economic growth profit-led or wage-led? A re-estimation incorporating investment nonlinearity, sectoral change, and regional disparity" @default.
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- W3111177216 doi "https://doi.org/10.1080/01603477.2020.1848436" @default.
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