Investment and China's economic growth in the years 1980-2012

Tomasz Białowąs

Abstract


This paper investigates China's economic growth with respect to the growth of investment in the years 1980-2012. It finds that investment contributed to around one-half of China's GDP growth since 1980. China's investment/GDP ratio is very high compared to other countries but capital stock per worker is still low. But since 2008 the efficiency of investment has deteriorated.

Full Text:

PDF (Język Polski)

References


Batson A., Zhang J., The great rebalancing (I) - does China invest too much?, "GK Dragonomics research note" 2011, September.

Berndt E., Morrison J., Capacity Utilization Measures: Underlying Economic Theory and an Alternative Approach, "American Economic Review" 1981, vol. 71.

Domar E.D., Capital Expansion, Rate of Growth, and Employment, "Econometrica" 1946, vol. 14.

Eurostat, 2013, Current level of capacity utilization in manufacturing industry, http://epp.eurostat. ec.europa.eu.

Federal Reserve, Statistical Release. Industrial Production and Capacity Utilization, December 16, 2013.

Goldman Sachs Global Economics, China hasn't invested too much (yet) but leverage is more of a constraint, "Asia Economics Analyst" 2012, 3 September.

Harrod R., An Essay in Dynamic Theory, "Economic Journal" 1939, vol. 49.

Hongbin Q., China Inside Out. What Over-investment?, "China Economics" 2012, 14 February.

Hongbin Q., Neumann F., Asia's Bitter Medicine, "Asian Economics" 2013, no. 3.

IMF, 2013, World Economic Outlook Database, October 2013, http://www.imf.org/external/pubs/ ft/weo/2013/02/weodata/index.aspx.

IMF, People's Republic of China. 2012 Article IV Consultation, IMF Country Report, no. 12/195, July 2012.

Kwan C.H., Improving Investment Efficiency in China through Privatization and Financial Reform, "Nomura Capital Market Review" 2006, vol. 9, no. 2.

Naughton B., The Chinese Economy. Transition and Growth, The MIT Press, Cambridge and London 2007.

Trading Economics, 2013, http://www.tradingeconomics.com/country-list/capacity-utilization.

UNCTAD, 2013, UNCTADStat, http://unctadstat.unctad.org/.

World Bank, 2013, World Development Indicators 2013, http://databank.worldbank.org/data/dow- nload/WDI_excel.zip.




DOI: http://dx.doi.org/10.17951/h.2014.48.2.19
Date of publication: 2015-05-23 20:20:33
Date of submission: 2015-04-16 13:45:40


Statistics


Total abstract view - 518
Downloads (from 2020-06-17) - PDF (Język Polski) - 0

Indicators



Refbacks

  • There are currently no refbacks.


Copyright (c) 2015 Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.