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China's Macroeconomic Development: Stages and Nonlinear Convergence

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  • Pingyao Lai

Abstract

The central theme of this paper is that China's macroeconomic development can be divided into three distinct stages with significant trend changes. Market‐oriented reform and opening to the outside world provide main driving forces for the convergence. However, the gradual reform and some inappropriate policies have caused serious ups and downs in China's macroeconomic performance. (Edited by Zhinan Zhang)

Suggested Citation

  • Pingyao Lai, 2006. "China's Macroeconomic Development: Stages and Nonlinear Convergence," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 14(1), pages 15-29, February.
    • Handle: RePEc:bla:chinae:v:14:y:2006:i:1:p:15-29
    DOI: 10.1111/j.1749-124X.2006.00004.x
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    References listed on IDEAS

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    1. Giles, John & Park, Albert & Zhang, Juwei, 2005. "What is China's true unemployment rate?," China Economic Review, Elsevier, vol. 16(2), pages 149-170.
    2. Kojima, Kiyoshi, 2000. "The "flying geese" model of Asian economic development: origin, theoretical extensions, and regional policy implications," Journal of Asian Economics, Elsevier, vol. 11(4), pages 375-401.
    3. Rawski, Thomas G., 2001. "What is happening to China's GDP statistics?," China Economic Review, Elsevier, vol. 12(4), pages 347-354.
    4. Alwyn Young, 2003. "Gold into Base Metals: Productivity Growth in the People's Republic of China during the Reform Period," Journal of Political Economy, University of Chicago Press, vol. 111(6), pages 1220-1261, December.
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    Cited by:

    1. Stephen Dobson & Carlyn Ramlogan-Dobson & Eric Strobl, 2012. "Convergence or divergence in cross-country growth?," International Review of Applied Economics, Taylor & Francis Journals, vol. 26(3), pages 417-424, November.

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