Regaining China's Resource Reallocative Efficiency to Boost Growth

IF 2.9 2区 经济学 Q1 ECONOMICS China & World Economy Pub Date : 2023-01-19 DOI:10.1111/cwe.12456
Fang Cai
{"title":"Regaining China's Resource Reallocative Efficiency to Boost Growth","authors":"Fang Cai","doi":"10.1111/cwe.12456","DOIUrl":null,"url":null,"abstract":"<p>The structural changes that the Chinese economy has been experiencing since its working-age population began to decline pose challenges for its further growth. First, as it loses its comparative advantage in labor-intensive activities, the share of manufacturing in its GDP has shrunk. Second, unproductive enterprises that are reluctant to exit the market tend to seek policy protection, which leads to the immobility of resource allocation. Third, the reallocation of the labor force from the highly productive manufacturing sector to the low-productivity service sector leads to the degradation of resource allocation. The inadequate exploitation of the potential of resource reallocation implies that the decline in manufacturing is premature. It is therefore important to combine market competition policy, industrial policy, and social protection policy to stabilize the development of manufacturing.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"31 1","pages":"5-21"},"PeriodicalIF":2.9000,"publicationDate":"2023-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"4","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"China & World Economy","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/cwe.12456","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 4

Abstract

The structural changes that the Chinese economy has been experiencing since its working-age population began to decline pose challenges for its further growth. First, as it loses its comparative advantage in labor-intensive activities, the share of manufacturing in its GDP has shrunk. Second, unproductive enterprises that are reluctant to exit the market tend to seek policy protection, which leads to the immobility of resource allocation. Third, the reallocation of the labor force from the highly productive manufacturing sector to the low-productivity service sector leads to the degradation of resource allocation. The inadequate exploitation of the potential of resource reallocation implies that the decline in manufacturing is premature. It is therefore important to combine market competition policy, industrial policy, and social protection policy to stabilize the development of manufacturing.

查看原文
分享 分享
微信好友 朋友圈 QQ好友 复制链接
本刊更多论文
恢复中国资源配置效率促进经济增长
自劳动年龄人口开始下降以来,中国经济一直在经历结构性变化,这对其进一步增长构成了挑战。首先,由于它失去了劳动密集型活动的比较优势,制造业在其国内生产总值中的份额也缩小了。第二,不愿退出市场的非生产性企业往往寻求政策保护,导致资源配置不动。第三,劳动力从生产率高的制造业部门向生产率低的服务业部门的再分配导致资源配置的退化。资源再分配潜力的开发不足意味着制造业的衰退为时过早。因此,将市场竞争政策、产业政策和社会保护政策结合起来,稳定制造业发展至关重要。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 去求助
来源期刊
CiteScore
4.70
自引率
12.90%
发文量
391
期刊介绍: The bi-monthly China & World Economy was launched in 1993 by the Institute of World Economics and Politics, Chinese Academy of Social Sciences (CASS). It is the only English-language journal in China devoted to the topic of the Chinese economy. The journal aims to provide foreign readers with an objective, impartial, analytical and up-to-date account of the problems faced and progress made by China in its interaction with the world economy. Among its contributors are many distinguished Chinese economists from both academic and government circles. As such, it has become a unique window on China and is essential reading for all those concerned with China"s development.
期刊最新文献
Issue Information Why is China Promoting Economic Globalization? A Leadership Theory of Globalization Digital Industry Agglomeration and Export Product Diversification: Evidence from Chinese Firms The Spillover Effects of International Co-production in the Chinese Film Industry Supply Chain Disruption and Import Strategy: Evidence from the Great East Japan Earthquake
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
已复制链接
已复制链接
快去分享给好友吧!
我知道了
×
扫码分享
扫码分享
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1