Understanding China's Lewis Turning Point - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Understanding China's Lewis Turning Point write by Annie Wei. This book was released on 2014. Understanding China's Lewis Turning Point available in PDF, EPUB and Kindle. The question of whether China has reached the Lewis turning point (LTP) has recently been intensively debated in the literature. Partly, this is due to the profound policy implication of the turning point posited by Lewis (1954) and Ranis and Fei (1961), while it is also closely related to the growing concern of China's growth sustainability. Various empirical approaches and criteria have been applied in the literature and greatly contributed to the diverse findings on the questions of China's LTP. In this paper, we carefully review the approaches applied in the existing studies and revisit the question by applying the wage-productivity approach which is most closely to the theoretical definition of LTP and the core criterion recommended by Minami (1968). Moreover, we examine the regional heterogeneity of China's LTP which has long been neglected in the literature but shall have significant policy implications to China's regional economic development. Our results show that in China's Eastern provinces, the marginal product of labour has increased rapidly and outpaced agricultural incomes by 2002 for the earliest and 2008 for the latest. In Central China, most provinces included in the sample of our study have passed the LTP by the mid to late 2000s except for Jiangxi province. In contrast, half of the examined provinces in Western China have not yet passed the turning point. The regional heterogeneity of the LTP can be explained by diverse levels of economic development of China's regions. It also indicates that China should adopt heterogeneous industrial policies across regions.
Understanding China's Economy
Understanding China's Economy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Understanding China's Economy write by Fang Cai. This book was released on 2021-03-23. Understanding China's Economy available in PDF, EPUB and Kindle. This book reviews and examines the reform and opening up in China from 1978 to 2011. It analyzes how China avoided to fall into the middle-income trap over those 33 years. The book makes a deep analysis of understanding how Chinese economy became a miracle in the world economic history and its development stages, as well as the overseas erroneous understanding of the existence of Chinese economy. The author analyzes from three aspects: how to break the “impossible triangle”, how to achieve middle-to-high speed growth in L model, and how to release a new dividend of urbanization. After Chinese economy entered the Lewis turning point, China faced the dilemma of labor transformation and the disappearance of demographic dividend, the demographic dividend turned to the reform dividend. The author points out and suggests that a new round of growth should be achieved by improving the total factor productivity in order to find a new way for the Chinese economy. This book plays an important role of comprehending Chinese economy under current complex economic situation. This book helps readers to understand Chinese economy from many aspects: impossible triangle, L model growth, Malthus trap, dual economy, aging problem, demographic dividend, reform dividend, trap of middle income, globalization, etc. The author as an economist aims for the public explaining the professional knowledge in a concise and easy way. This book delivers the information of discerning and understanding the economic trend, and predicting the future.
Debating the Lewis Turning Point in China
Debating the Lewis Turning Point in China - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Debating the Lewis Turning Point in China write by Yiping Huang. This book was released on 2016-04-08. Debating the Lewis Turning Point in China available in PDF, EPUB and Kindle. HUANG Yiping is Professor of Economics at the China Center for Economic Research, National School of Development, Peking University, China. He is also an adjunct professor at the Australian National University and a member of the China Finance 40 Forum. His current research focuses on macroeconomic policy, international finance and rural development. CAI Fang is Director, Professor and Fellow at the Institute of Population and Labor Economics, Chinese Academy of Social Sciences, China. He serves as Vice Chairman of the China Population Association. His current research focuses on China’s labor migration, population and development, economic reform, income distribution and poverty.
Chronicle of a Decline Foretold
Chronicle of a Decline Foretold - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Chronicle of a Decline Foretold write by Ms.Mitali Das. This book was released on 2013-01-29. Chronicle of a Decline Foretold available in PDF, EPUB and Kindle. China is on the eve of a demographic shift that will have profound consequences on its economic and social landscape. Within a few years the working age population will reach a historical peak, and then begin a precipitous decline. This fact, along with anecdotes of rapidly rising migrant wages and episodic labor shortages, has raised questions about whether China is poised to cross the Lewis Turning Point, a point at which it would move from a vast supply of low-cost workers to a labor shortage economy. Crossing this threshold will have far-reaching implications for both China and the rest of the world. This paper empirically assesses when the transition to a labor shortage economy is likely to occur. Our central result is that on current trends, the Lewis Turning Point will emerge between 2020 and 2025. Alternative scenarios—with higher fertility, greater labor participation rates, financial reform or higher productivity—may peripherally delay or accelerate the onset of the turning point, but demographics will be the dominant force driving the depletion of surplus labor.
What Does the Lewis Turning Point Mean for China?
What Does the Lewis Turning Point Mean for China? - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook What Does the Lewis Turning Point Mean for China? write by Yiping Huang. This book was released on 2010. What Does the Lewis Turning Point Mean for China? available in PDF, EPUB and Kindle. We apply a computable general equilibrium framework to assess likely impacts of the Lewis turning point on China and the rest of the world. Modeling results suggest that China will probably transition from an abnormal economy to a normal economy with somewhat lower growth but higher inflation, which requires significant revision to the macroeconomic policy framework. China would lose competitiveness in laborintensive activities, its current account surplus should fall but overinvestment risk could rise. These changes in China should help improve other counties current accounts and boost lowcost countries production. The Lewis turning point, however, does not provide automatic solutions to some of the key challenges, such as service sector development and innovation capability. China will need to make serious policy efforts to avoid the socalled middle income trap.
