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dc.contributor.authorLiu, Minquanen_US
dc.date.accessioned2011-12-08en_US
dc.date.accessioned2011-12-15T12:27:42Z-
dc.date.available2011-12-15T12:27:42Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/53729-
dc.description.abstractThere are likely to be many factors which have together shaped the current pattern of growth and equity in the People's Republic of China (PRC). Among them are the foundations laid in the pre-1978 era, especially in respect of land-related institutional reforms and social sector investments. These factors successfully complemented the subsequent export and foreign direct investment promotion strategies the PRC followed in the post-1978 years. However, given the large size of the PRC, while these strategies have helped to kick-start its economic take-off, the long-run growth of the country cannot depend on it. It will be important for the PRC in the forthcoming decades to expand its own domestic demand and renew social sector investments. Among other things, it will need to improve on its current income distributions. In particular, as well as wage increases, it will be important for the PRC to expand its social protection programs. This will help not only to boost its domestic demand, but also, more importantly, to contribute to a renewal and expansion of its human capital accumulation. In the long run, there is nothing more important than this if the PRC is to continue on its growth track, to modernize, and to catch up with today's developed nations. Superior pre-1978 human capital accumulations have helped the PRC to compete with and outperform other similarly positioned economies in the decades before; continued growth of the economy and continued improvements of the living standards of its people in the forthcoming decades will require vast amounts of new investment in human capital. And to this, increased investments by the government, whether through direct spending or increased levels of social protection, may well prove to be of special importance.en_US
dc.language.isoengen_US
dc.publisherAsian Development Bank Institute Tokyoen_US
dc.relation.ispartofseriesADBI working paper series 331en_US
dc.subject.jelO15en_US
dc.subject.jelO53en_US
dc.subject.jelF14en_US
dc.subject.jelN35en_US
dc.subject.ddc330en_US
dc.subject.stwWirtschaftswachstumen_US
dc.subject.stwVerteilungswirkungen_US
dc.subject.stwHumankapitalen_US
dc.subject.stwStandortfaktoren_US
dc.subject.stwZentrale Wirtschaftsplanungen_US
dc.subject.stwChinaen_US
dc.titleUnderstanding the pattern of growth and equity in the People's Republic of Chinaen_US
dc.typeWorking Paperen_US
dc.identifier.ppn679398031en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:ADBI Working Paper Series, Asian Development Bank Institute

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