Why has China grown so fast? The role of physical and human capital formation

Ding, S. and Knight, J. (2011) Why has China grown so fast? The role of physical and human capital formation. Oxford Bulletin of Economics and Statistics, 73(2), pp. 141-174. (doi: 10.1111/j.1468-0084.2010.00625.x)

Abstract

Cross-province growth regressions for China are estimated for the reform period. Two research questions are asked. Can the regressions help us to understand why China as a whole has grown so fast? What types of investment matter for China's growth? We address the problem of model uncertainty by adopting two approaches to model selection to consider a wide range of candidate predictors of growth. Starting from the baseline equation, the growth impact of physical and human capital is examined using panel data techniques. Both forms of capital promote economic growth. ‘Investment in innovation’ and private investment are found to be particularly important. Secondary school enrolment contributes to growth, and higher education enrolment even more so.

• Item Type: Articles
• Additional Information: The definitive version is available at www3.interscience.wiley.com
• Status: Published
• Refereed: Yes
• Glasgow Author(s) Enlighten ID: Ding, Professor Sai
• Authors: Ding, S., and Knight, J.
• Subjects: H Social Sciences > HB Economic Theory
• College/School: College of Social Sciences > Adam Smith Business School > Economics
• Journal Name: Oxford Bulletin of Economics and Statistics
• Publisher: Wiley
• ISSN: 0305-9049
• Published Online: 30 December 2010
• Copyright Holders: Copyright © 2011 Wiley
• First Published: First published in Oxford Bulletin of Economics and Statistics 73(2):141-174
• Publisher Policy: Reproduced in accordance with the copyright policy of the publisher