demography

Can China Save Its Economic Miracle?

To improve medium-term growth, China must heed the lessons of its own history and focus on removing barriers to market entry and entrepreneurship. An economy’s growth rate comes from a combination of an increase in the average size of existing firms (intensive-margin growth) and an increase in the number of firms (extensive-margin growth). A study of the Chinese manufacturing sector that I co-authored with Xiaobo Zhang suggests that during the last few decades, extensive-margin growth accounted for about 70 percent of overall GDP expansion.

Population, Prosperity and Public Policy

Man in Bangladesh, the nation as a whole,” as a wise man once put it, “is the principal resource of Bangladesh.”

January 5, 2023
January 5, 2023

Can China Save Its Economic Miracle?

To improve medium-term growth, China must heed the lessons of its own history and focus on removing barriers to market entry and entrepreneurship. An economy’s growth rate comes from a combination of an increase in the average size of existing firms (intensive-margin growth) and an increase in the number of firms (extensive-margin growth). A study of the Chinese manufacturing sector that I co-authored with Xiaobo Zhang suggests that during the last few decades, extensive-margin growth accounted for about 70 percent of overall GDP expansion.

July 11, 2015
July 11, 2015

Population, Prosperity and Public Policy

Man in Bangladesh, the nation as a whole,” as a wise man once put it, “is the principal resource of Bangladesh.”

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