IDEAS home Printed from https://ideas.repec.org/p/unu/wpaper/wp-2018-92.html
   My bibliography  Save this paper

China's growth miracle in the context of Asian transformation

Author

Listed:
  • Justin Yifu Lin

Abstract

Myrdal did not cover China in his Asian Drama. If he did, he would have been most likely pessimistic about China, as he was about other Asian countries in his book. However, China has achieved miraculous growth since the transition from a planned economy to a market economy at the end of 1978. This paper provides answers to the questions: Why was China trapped in poverty before 1978? How was it possible for China to achieve an extraordinary performance during its transition? Why did most other transition economies fail to achieve a similar performance?

Suggested Citation

  • Justin Yifu Lin, 2018. "China's growth miracle in the context of Asian transformation," WIDER Working Paper Series wp-2018-92, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2018-92
    as

    Download full text from publisher

    File URL: https://www.wider.unu.edu/sites/default/files/Publications/Working-paper/PDF/wp2018-92.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Barry Eichengreen & Donghyun Park & Kwanho Shin, 2012. "When Fast-Growing Economies Slow Down: International Evidence and Implications for China," Asian Economic Papers, MIT Press, vol. 11(1), pages 42-87, Winter/Sp.
    2. Justin Yifu Lin, 2011. "New Structural Economics: A Framework for Rethinking Development," The World Bank Research Observer, World Bank, vol. 26(2), pages 193-221, August.
    3. International Finance Corporation & Multilateral Investment Guarantee Agency & World Bank, 2010. "Investing across Borders 2010," World Bank Publications - Reports 27883, The World Bank Group.
    4. Lawrence J. Lau & Yingyi Qian & Gerard Roland, 2000. "Reform without Losers: An Interpretation of China's Dual-Track Approach to Transition," Journal of Political Economy, University of Chicago Press, vol. 108(1), pages 120-143, February.
    5. Commission on Growth and Development, 2008. "The Growth Report : Strategies for Sustained Growth and Inclusive Development," World Bank Publications - Books, The World Bank Group, number 6507.
    6. Lin,Justin Yifu, 2009. "Economic Development and Transition," Cambridge Books, Cambridge University Press, number 9780521735513, November.
    7. Justin Lin & David Rosenblatt, 2012. "Shifting patterns of economic growth and rethinking development," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 15(3), pages 171-194.
    8. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1992. "The Transition to a Market Economy: Pitfalls of Partial Reform," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(3), pages 889-906.
    9. Lin, Justin Yifu, 1995. "The Needham Puzzle: Why the Industrial Revolution Did Not Originate in China," Economic Development and Cultural Change, University of Chicago Press, vol. 43(2), pages 269-292, January.
    10. Lin,Justin Yifu, 2009. "Economic Development and Transition," Cambridge Books, Cambridge University Press, number 9780521514521, November.
    11. Lin, Justin Yifu & Monga, Celestin, 2011. "Growth identification and facilitation : the role of the state in the dynamics of structural change," Policy Research Working Paper Series 5313, The World Bank.
    12. Justin Yifu Lin, 2013. "Demystifying the Chinese Economy," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 46(3), pages 259-268, September.
    13. Douglas Zhihua Zeng, 2010. "Building Engines for Growth and Competitiveness in China : Experience with Special Economic Zones and Industrial Clusters," World Bank Publications - Books, The World Bank Group, number 2501.
    14. Gene M. Grossman & Elhanan Helpman, 1996. "Electoral Competition and Special Interest Politics," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 63(2), pages 265-286.
    15. Khuong Minh Vu, 2013. "The Dynamics of Economic Growth," Books, Edward Elgar Publishing, number 14689.
    16. Prebisch, Raúl, 1950. "The economic development of Latin America and its principal problems," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 29973, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    17. Justin Yifu Lin, 2012. "The Quest for Prosperity: How Developing Economies Can Take Off," Economics Books, Princeton University Press, edition 1, volume 1, number 9812.
    18. Lin, Justin Yifu & Wan, Guanghua & Morgan, Peter J., 2016. "Prospects for a re-acceleration of economic growth in the PRC," Journal of Comparative Economics, Elsevier, vol. 44(4), pages 842-853.
    19. Justin Yifu Lin, 2012. "New Structural Economics : A Framework for Rethinking Development and Policy," World Bank Publications - Books, The World Bank Group, number 2232.
    20. Dirk Willem te Velde & Justin Lin & Célestin Monga & Suresh D. Tendulkar & Alice Amsden & K. Y. Amoako & Howard Pack & Wonhyuk Lim, 2011. "DPR Debate: Growth Identification and Facilitation: The Role of the State in the Dynamics of Structural Change," Development Policy Review, Overseas Development Institute, vol. 29(3), pages 259-310, May.
    21. Lin, Justin Yifu, 1992. "Rural Reforms and Agricultural Growth in China," American Economic Review, American Economic Association, vol. 82(1), pages 34-51, March.
    22. Lin, Justin Yifu & Li, Feiyue, 2009. "Development strategy, viability, and economic distortions in developing countries," Policy Research Working Paper Series 4906, The World Bank.
    23. Justin Yifu Lin & David Rosenblatt, 2012. "Shifting patterns of economic growth and rethinking development," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 15(3), pages 171-194, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Justin Lin, 2018. "China’s growth miracle in the context of Asian transformation," WIDER Working Paper Series 92, World Institute for Development Economic Research (UNU-WIDER).
    2. Justin Yifu Lin, 2013. "Demystifying the Chinese Economy," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 46(3), pages 259-268, September.
    3. Lin, Justin Yifu, 2016. "Will China continue to be the engine of growth in the world," Journal of Policy Modeling, Elsevier, vol. 38(4), pages 683-692.
    4. Justin Yifu Lin & Yan Wang, 2014. "China-Africa Co-operation in Structural Transformation: Ideas, Opportunities, and Finances," WIDER Working Paper Series wp-2014-046, World Institute for Development Economic Research (UNU-WIDER).
    5. Justin Yifu Lin & Xiaobing Wang, 2019. "The Facilitating State and Economic Development: The Role of the State in New Structural Economics," Book, University of Warsaw, Faculty of Management, edition 1, volume 1, number y:2019:v:1:ch:6:p:123-141 edited by Justin Yifu Lin & Alojzy Z. Nowak, June.
    6. Lin, Justin Yifu & Wang, Yan, 2014. "China-Africa co-operation in structural transformation: Ideas, opportunities, and finances," WIDER Working Paper Series 046, World Institute for Development Economic Research (UNU-WIDER).
    7. Justin Yifu Lin & Yan Wang, 2020. "Seventy Years of Economic Development: A Review from the Angle of New Structural Economics," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 28(4), pages 26-50, July.
    8. Vandana Chandra & Justin Yifu Lin & Yan Wang, 2013. "Leading Dragon Phenomenon: New Opportunities for Catch-up in Low-Income Countries," Asian Development Review, MIT Press, vol. 30(1), pages 52-84, March.
    9. Lin Justin Yifu & Wang Xiaobing, 2017. "The Facilitating State and Economic Development: The Role of the State in New Structural Economics," Man and the Economy, De Gruyter, vol. 4(2), pages 1-19, December.
    10. Justin Yifu Lin & Khuong Minh Vu, 2014. "The Practice of Industrial Policy - Lessons for Africa: Co-ordination Through an Asian Lens," WIDER Working Paper Series wp-2014-156, World Institute for Development Economic Research (UNU-WIDER).
    11. Wang, Can & Deng, Mengzhi & Deng, Junfeng, 2020. "Factor reallocation and structural transformation implications of grain subsidies in China," Journal of Asian Economics, Elsevier, vol. 71(C).
    12. Lin, Justin Yifu & Vu, Khuong Minh, 2014. "The practice of industrial policy: Lessons for Africa: Co-ordination through an Asian lens," WIDER Working Paper Series 156, World Institute for Development Economic Research (UNU-WIDER).
    13. International Monetary Fund, 2015. "Republic of Estonia: Selected Issues," IMF Staff Country Reports 2015/337, International Monetary Fund.
    14. Valeriy V. Mironov & Liudmila D. Konovalova, 2019. "Structural changes and economic growth in the world economy and Russia," Russian Journal of Economics, ARPHA Platform, vol. 5(1), pages 1-26, April.
    15. Justin Yifu Lin, 2013. "New structural economics: the third wave of development thinking," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 27(2), pages 1-13, November.
    16. Seung Mo Choi & Hwagyun Kim & Xiaohan Ma, 2021. "Trade, structural transformation and growth," The World Economy, Wiley Blackwell, vol. 44(6), pages 1770-1794, June.
    17. Lin, Justin Yifu & Monga, Celestin, 2010. "The growth report and new structural economics," Policy Research Working Paper Series 5336, The World Bank.
    18. Ben Fine & Elisa Van Waeyenberge, 2013. "A Paradigm Shift that Never Will Be?: Justin Lin’s New Structural Economics," Working Papers 179, Department of Economics, SOAS University of London, UK.
    19. Wen, Yi, 2021. "China's industrial revolution: A new perspective," China Economic Review, Elsevier, vol. 69(C).
    20. Lectard, Pauline & Rougier, Eric, 2018. "Can Developing Countries Gain from Defying Comparative Advantage? Distance to Comparative Advantage, Export Diversification and Sophistication, and the Dynamics of Specialization," World Development, Elsevier, vol. 102(C), pages 90-110.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:unu:wpaper:wp-2018-92. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Siméon Rapin (email available below). General contact details of provider: https://edirc.repec.org/data/widerfi.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.