Great Turning: HowHas the Chinese Economy Been Trapped in an Efficiency-and-Balance Tradeoff?
时间：2016-08-27 访问量：1227
Ming Lu and Kuanhu Xiang, 2016, “Great Turning: How Has Chinese Economy Been Trapped in an Efficiency-and-Balance Tradeoff?”Asian Economic Papers, 15(1), 25-50.
Great Turning: How Has the Chinese Economy Been Trapped in an Efficiency-and-Balance Tradeoff?*
Ming LUa and Kuanhu XIANGb
a Shanghai Jiao Tong University and Fudan University, China
b Shanghai Jiao Tong University, China
Abstract: Large-country development faces the challenge of meeting the dual goals of economic growth and re-gional development, while resolving the tension between these two objectives. Over the past decade, the Chinese government has attempted to use the allocation of construction land and fiscal transfer payments to encourage the industrial development of its underdeveloped areas. This paper shows that this attempt was accompanied by an overall economic slowdown and a decline in resource alloca-tion efficiency, which not only undermines the international competitiveness of China?s economy, but also creates an elevated risk of debt. The paper points out that the realization of China?s dual goals of efficiency and regional balance will require increased labor mobility rather than a simple increase in the scale of policy driven resource relocation.
∗ Xiang is the corresponding author. This study was funded by the National Social Science Funds (13&ZD015 and 12AZD045), the Ministry of Education of the People’s Republic of China (10YJA790126), and the National Science Funds (71133004 and 71273289), and also supported by the Fudan Lab for China Development Studies. Helpful comments from Wing Thye Woo, Sylvie D´emurger, Yang Yao, Zhao Chen, Huiwen Li, Binkai Chen, Rudai Yang, Ziying Fan, Changyuan Luo, and the participants of AEP conference (Finland) and the seminars at Fudan University, China Academy of Social Science, University of International Business and Economics, and National University of Singapore are greatly appreciated. The authors also thank Rudai Yang, Binkai Chen, Ziying Fan, Huiyong Zhong, and Hang Zhang for their help in data processing. All remaining errors are our own.
Downloadable:
Great Turning: How Has the Chinese Economy Been Trapped in an Efficiency-and-Balance Tradeoff?*
Ming LUa and Kuanhu XIANGb
a Shanghai Jiao Tong University and Fudan University, China
b Shanghai Jiao Tong University, China
∗ Xiang is the corresponding author. This study was funded by the National Social Science Funds (13&ZD015 and 12AZD045), the Ministry of Education of the People’s Republic of China (10YJA790126), and the National Science Funds (71133004 and 71273289), and also supported by the Fudan Lab for China Development Studies. Helpful comments from Wing Thye Woo, Sylvie D´emurger, Yang Yao, Zhao Chen, Huiwen Li, Binkai Chen, Rudai Yang, Ziying Fan, Changyuan Luo, and the participants of AEP conference (Finland) and the seminars at Fudan University, China Academy of Social Science, University of International Business and Economics, and National University of Singapore are greatly appreciated. The authors also thank Rudai Yang, Binkai Chen, Ziying Fan, Huiyong Zhong, and Hang Zhang for their help in data processing. All remaining errors are our own.
Downloadable: