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An Empirical Analysis of China's Dualistic Economic Development: 1965-2009

Ercolani, Marco; Wei, Zheng (Annie)

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We analyze China's rapid economic development in the context of the dualistic development theory. Over the period 1965-2009, we find that China's economic growth is mainly attributable to the development of the non-agricultural (industrial and service) sector, driven by rapid labor migration and capital accumulation.We find that the sectoral reallocation of labor plays a significant role in promoting China's economic growth. Further, we find that the marginal productivity of agricultural labor...[Show more]

dc.contributor.authorErcolani, Marco
dc.contributor.authorWei, Zheng (Annie)
dc.date.accessioned2015-12-08T22:37:51Z
dc.identifier.issn1535-3516
dc.identifier.urihttp://hdl.handle.net/1885/35695
dc.description.abstractWe analyze China's rapid economic development in the context of the dualistic development theory. Over the period 1965-2009, we find that China's economic growth is mainly attributable to the development of the non-agricultural (industrial and service) sector, driven by rapid labor migration and capital accumulation.We find that the sectoral reallocation of labor plays a significant role in promoting China's economic growth. Further, we find that the marginal productivity of agricultural labor stopped stagnating in 1978, which indicates that China entered quickly into phase two of economic development with the initiation of market reforms. Moreover, by 2009, the marginal productivity of labor has likely exceeded the institutional wage, as defined by the initially low average labor productivity, indicating that China may be now in the process of entering phase three of economic development.
dc.publisherMIT Press
dc.sourceAsian Economic Papers
dc.titleAn Empirical Analysis of China's Dualistic Economic Development: 1965-2009
dc.typeJournal article
local.description.notesImported from ARIES
local.identifier.citationvolume10
dc.date.issued2011
local.identifier.absfor160505 - Economic Development Policy
local.identifier.ariespublicationu4430637xPUB127
local.type.statusPublished Version
local.contributor.affiliationErcolani, Marco, University of Birmingham
local.contributor.affiliationWei, Zheng (Annie), College of Asia and the Pacific, ANU
local.description.embargo2037-12-31
local.bibliographicCitation.issue3
local.bibliographicCitation.startpage1
local.bibliographicCitation.lastpage29
local.identifier.doi10.1162/ASEP_a_00108
dc.date.updated2015-12-08T10:03:07Z
local.identifier.scopusID2-s2.0-80053284343
CollectionsANU Research Publications

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