Chinas great convergence and beyond

Kjetil Storesletten, Fabrizio Zilibotti

Research output: Contribution to journalReview articlepeer-review

21 Scopus citations

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 languageEnglish (US)
Pages (from-to)333-362
Number of pages30
JournalAnnual Review of Economics
Volume6
DOIs
StatePublished - Aug 2014
Externally publishedYes

Keywords

  • economic reforms
  • foreign imbalances
  • innovation
  • middle-income trap
  • pension reform
  • savings

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