Institutional Change and Economic Growth:Evidence from China, 1978-2008

DOI

10.2991/iaw-sc.2013.20How to use a DOI?

Keywords

economic growth, liberalization, institutional change, policy reform

Abstract

China’s economic growth since 1978 is a miracle. We argue that gradual and persistent institutional changes and policy reforms that have reduced distortions and improved incentives are the main reasons for the miracle. Specifically, liberalization, marketization, and privatization have intertwined to play their roles. We use a panel dataset covering 31 Chinese provinces over 1978-2008 to test the hypothesis. The share of private sector in the economy is used as a measure of insti-tutional change and policy reforms. We find that Chi-na’s GDP will grow by 0.5 percent if the private share increases by 1 percentage point.

Copyright

© 2013, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Shiyong Zhao
AU  - Shifeng Zhao
PY  - 2013/10
DA  - 2013/10
TI  - Institutional Change and Economic Growth:Evidence from China, 1978-2008
BT  - Proceedings of the 2013 International Academic Workshop on Social Science
PB  - Atlantis Press
SP  - 93
EP  - 97
SN  - 1951-6851
UR  - https://doi.org/10.2991/iaw-sc.2013.20
DO  - 10.2991/iaw-sc.2013.20
ID  - Zhao2013/10
ER  -