Growth and Productivity Measures of China’s Due to International Trade: PRC’S Experience 1970–1993

Document Type

Article

Publication Date

2007

Journal / Book Title

Asia Europe Journal

Abstract

Solow’s Growth Model Solow (Q J Econ 70:65–94, 1956) and aggregate data are applied to estimates the increase in productivity due international trade and the resulting technical change and capital augmentation for the years 1970 to 1978 and 1978 (the beginning of the reforms and “open door” policy in China) to 1993. According this paper’s estimations the GDP per man hour in 1978 increased by 1.76 times for the year 1970, from $0.1233 in 1970 to $0.2169 in 1978, and in 1993 by 5.23 time that of 1978 to $1.1348 in 1993. For the period under study due to “open door” policy the GDP per man-hour more than quadrupled, and 76.18% of this increase was due to technical changes and the remaining 23.82 was due to capital augmentation. The paper consists of five sections. “Introduction” Section reviews some of the growth literature as well as looking at the macroeconomic measures of China’s economic performance since 1978 the beginning of the reforms. “Data” Section explains the data modifications. “Empirical results” Section portrays the empirical results and the next indicates conclusions.

DOI

10.1007/s10308-007-0120-8

Published Citation

Ramjerdi, H.P. Growth and productivity measures of China’s due to international trade: PRC’S experience 1970–1993. AEJ 5, 253–265 (2007). https://doi.org/10.1007/s10308-007-0120-8

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