What Drives China’s Economy: Economic, Socio-Political, Historical and Cultural Factors

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Qing-Ping Ma

What Drives China’s Economy

Economic, Socio-Political, Historical and Cultural Factors

Qing-Ping Ma

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English

Routledge
30 June 2021

Regional studies; Microeconomics; International economics; Development economics

Series: Routledge Focus on Economics and Finance

"The spectacular economic growth experienced by China since 1978 has often been hailed as the ""China Miracle"". Many economists have tried to understand the forces behind China’s phenomenal growth and the explanations can be divided into two broad schools of economic thought — one school of thought which includes Nobel Laureate Paul Krugman explains that market mechanism and deregulation led to China’s success, while the other school of thought which include Justin Yifu Lin, the former Chief Economist and Senior Vice-President of the World Bank, explains that China’s growth miracle is a unique model to itself defined by the Chinese government’s prominent role. The Chinese government has been responsible in identifying and investing in industries that have contributed to economic growth. Some economists in the latter school even claim that the China Miracle cannot be explained by mainstream economics.

This book examines both schools of thought and attempts to provide a synthesis of the two schools to explain the China Miracle. It looks at the Solow-Swan growth model, the Harrod-Domar model and transaction cost theory. It provides insights into whether and how China can sustain its growth and how developing countries may replicate China’s success."

By: Qing-Ping Ma
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 216mm, Width: 138mm,
Weight: 167g
ISBN: 9781032083469
ISBN 10: 1032083468
Series: Routledge Focus on Economics and Finance
Pages: 136
Publication Date: 30 June 2021
Audience: College/higher education , General/trade , Primary , ELT Advanced
Format: Paperback
Publisher's Status: Active

Qing-Ping Ma currently works at Nottingham University Business School China. He has published two books on economics, Private Capital and Road to Developed Economy (editor) and The Theory and Practice of Pensions and Social Security, and articles on pension economics and China’s economic growth.