Deng, Kent 
ORCID: 0000-0002-9795-3646 and Du, Jane
(2024)
Domestic savings-driven growth: unveiling internal economic dynamics in China, 1980-2010.
Economic History Working Papers (368).
London School of Economics and Political Science, London, UK.
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Abstract
It has been commonly believed that economic reforms in the post-Mao Era since 1980 have changed China from autarky to an export-oriented developmental path, accompanied by inward and cheap FDI with advanced foreign technology. This paper challenges this view with quantitative evidence and shows that China’s recent growth has depended heavily on a domestic source of capital coming from newly available household sayings, stemming from (1) state mandatory price control over food as a wage good on the one hand and (2) a fast-growing wage level due to arising labour productivity on the other.
| Item Type: | Monograph (Working Paper) |
|---|---|
| Official URL: | https://www.lse.ac.uk/Economic-History/Working-Pap... |
| Additional Information: | © 2024 The Authors |
| Divisions: | Economic History |
| Subjects: | H Social Sciences > HC Economic History and Conditions H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HG Finance |
| JEL classification: | O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development P - Economic Systems > P2 - Socialist Systems and Transitional Economies > P21 - Planning, Coordination, and Reform P - Economic Systems > P5 - Comparative Economic Systems > P51 - Comparative Analysis of Economic Systems Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q1 - Agriculture > Q18 - Agricultural Policy; Food Policy |
| Date Deposited: | 12 Mar 2024 15:45 |
| Last Modified: | 01 Nov 2024 05:00 |
| URI: | http://eprints.lse.ac.uk/id/eprint/122355 |
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