The PRC's Long-Run Growth through the Lens of the Export-Led Growth Model
Publication | August 2018
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This analysis has important implications to understand the People's Republic of China's transition to a “New Normal” of a lower growth rate.
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Using the concept of the balance-of-payments equilibrium (BOPE) growth rate, this paper tests the proposition that the People’s Republic of China’s (PRC) remarkable growth performance over the last 3 decades was a case of export-led growth. Results indicate that the PRC’s actual long-run growth is well approximated by its BOPE growth rate.
Contents
- Introduction
- The Balance-of-Payments Equilibrium Growth Rate Model
- Estimation Results of the People's Republic of China's Time-Varying Balance-of-Payments Equilibrium Growth Rate
- How Relevant is the Balance-of-Payments Equilibrium Growth Rate for the People's Republic of China?
- The Determinants of the People's Republic of China's Balance-of-Payments Equilibrium Growth Rate and the Income Elasticity of Imports: A Bayesian Model Averaging Approach
- Conclusions
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Published Versions
Felipe, Jesus and Matteo Lanzafame. 2020. "The PRC's Long-Run Growth through the Lens of the Export-Led Growth Model." Journal of Comparative Economics 48 (1): 163–81. https://doi.org/10.1016/j.jce.2019.08.004.