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- W3121133954 abstract "China's impressive growth is rooted in the liberalization of a surplus labor economy that has a high saving rate. The reallocation of surplus agriculture labor to industry and service sectors generates a growth effect that shows up in total factor productivity (TFP) growth. Net TFP, the resulting residual, contains the true measure of technological progress (among other effects). Taking account of mismeasurement problems, especially of value added in the industry sector, I calculated a plausible range of estimates for each source of growth. My point estimates for each of their contribution to the average annual 9.3 percent growth rate in the 1979-93 period growth rate in the 1985-93 subperiod are, respectively: 1979-93 1985-93------- -------4.9 5.5 percentage points from capitalaccumulation 1.3 1.1 percentage points from labor forceexpansion 1.1 1.3 percentage points from reallocationof labor from agriculture 0.2 0.3 percentage points from inconsistentuse of base prices 0.5-0.7 0.9-1.2 percentage points from overstatementof industrial growth 1.1-1.3 0.3-0.6 percentage points from net TFPgrowth" @default.
- W3121133954 created "2021-02-01" @default.
- W3121133954 creator A5066870395 @default.
- W3121133954 date "1996-05-01" @default.
- W3121133954 modified "2023-09-23" @default.
- W3121133954 title "Chinese Economic Growth: Sources and Prospects" @default.
- W3121133954 hasPublicationYear "1996" @default.
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