Is Chinese productivity slowly dying?

Authors: JARI MATTHEW ROMAN and ÓSCAR MÁRQUEZ

A deep understanding of Chinese TFP

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China has surprised the world with unprecedented economic development in such a short period of time. Averaging annual growth of 5 percent, transforming from a rural agricultural society to an urban industrial one, from a planned to a market-based economy, and lifting out of poverty millions of people (Zhao, L. B. (2020)). This has been possible due to economic and social reforms that led to an increase in TFP (Sun, Z. a. (2011)). This paper aims to explain the dynamics of long run economic growth and acknowledge the importance of the TFP. Then this theory will be applied to the Chinese decreasing tendency on productivity by discussing the main factors of its slowdown.

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