Abstract
A recent wave of economic research has studied the transformation of China from a poor country in the 1970s to a middle-income economy today. Based on this literature, we discuss the factors driving Chinas development process. We provide a historical account of Chinas rise, fall, and resurgence. We then discuss the stylized facts associated with Chinas growth process and review a comprehensive theory of its economic transition. Finally, we discuss Chinas future. In particular, we review some recent studies about technological and politico-economic factors that may foster or hinder its future economic performance.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 333-362 |
| Number of pages | 30 |
| Journal | Annual Review of Economics |
| Volume | 6 |
| DOIs | |
| State | Published - Aug 2014 |
| Externally published | Yes |
Keywords
- economic reforms
- foreign imbalances
- innovation
- middle-income trap
- pension reform
- savings
