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Handbook of Economic Growth by Steven Durlauf, Philippe Aghion

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Chapter 7

The Chinese Growth Miracle

Yang Yao,    China Center for Economic Research, National School of Development, Peking University, China,    yyao@ccer.pku.edu.cn

Abstract

This chapter provides a review of China’s economic growth since 1978. Studying China’s economic success may shed new light on the political economy of growth, the impacts of the ascent of large countries on the rest of the world, and the relationship between inequality and economic growth. The chapter starts with a review of the characteristics of China’s economic growth and compares it with those of several similar economies. Then it shows how China’s economic success has been created by innovative institutional arrangements as well as adherence to the policy advice ...

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