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Dissecting the China Puzzle: Asymmetric liberalization and cost distortion

Huang, Yiping


We attempt to explain the China Puzzle, the coexistence of accelerating economic growth, and a worsening growth outlook. The root cause lies in China's unique liberalization approach, that is, the combination of a complete liberalization of product markets and continued distortions in factor markets. Repressed costs of labor, capital, land, and resources artificially raise the profits of production, increase the returns to investment, and improve the international competitiveness of Chinese...[Show more]

CollectionsANU Research Publications
Date published: 2010
Type: Journal article
Source: Asian Economic Policy Review
DOI: 10.1111/j.1748-3131.2010.01172.x


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