Chinese growth, Future prospects and less developed countries
Conclusion
As we have witnessed, capital accumulation, huge labor force, technology and human capital have been the biggest engines of Chinese growth. These forces can also help many least developed countries if they could build proper economic institutions to attract FDIs and efficiently use their huge underemployed population in agriculture towards factories. But to sustain it for longer period technological progress and quality human capital is inevitable.
References
- Qiang, F. Xiaobo, Z. Xihe, H. (2010). Financial Openness, Technology Progress and Growth: A Study Based on Empirical Data from China between 1979 and 2006. Chongqing University, China.
- Wu, Y. (2010). Innovation and Economic Growth in China.
- Hu, Z. Khan, M. (1997). Why Is China Growing So Fast? 1997 International Monetary Fund.
- Wang, Y. (2003). Sources of China’s Economic Growth 1952-1999: Incorporating Human Capital Accumulation.
- Qian, X. Smyth, R. (2005). Growth Accounting For the Chinese Provinces 1990-2000: Incorporating Human Capital Accumulation.
- Featherstone, M. (2012). China’s Economic Performance. ANU.
- Assbring, M. (2012). What Factors Affect Economic Growth In China? Spring 2012.
Brabim Bikram Thapa
Post Graduate Research Student (Economics) at university of New England, Australia
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