Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/272767 
Authors: 
Year of Publication: 
2023
Series/Report no.: 
IZA Discussion Papers No. 16140
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
China's remarkable run of persistently high growth in recent decades is all the more stunning in light of the country's low levels of financial and institutional development, state-dominated economy, and nondemocratic government. Notwithstanding the inefficient and risky growth model, the government has maneuvered the economy around various stresses without any major financial or economic crash. With a shrinking labor force and declining efficiency of investment, raising productivity growth is key to maintaining reasonable GDP growth. Unbalanced reforms, a schizophrenic approach to the role of the market versus the state, and strains in financial and property markets could result in significant volatility but a financial or economic collapse is not in the cards.
Subjects: 
growth rebalancing
sectoral reallocation
demographics
productivity growth
financial risks
JEL: 
F2
F3
F4
Document Type: 
Working Paper

Files in This Item:
File
Size
647.13 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.