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Economic Growth and Convergence, Applied to China
Author(s) -
Barro Robert J.
Publication year - 2016
Publication title -
china and world economy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.815
H-Index - 28
eISSN - 1749-124X
pISSN - 1671-2234
DOI - 10.1111/cwe.12172
Subject(s) - china , convergence (economics) , conditional convergence , economics , per capita income , per capita , development economics , geography , economy , economic growth , demography , sociology , population , archaeology
From the perspective of conditional convergence, China's GDP growth rate since 1990 has been surprisingly high. However, China cannot deviate forever from the global historical experience, and the per capita growth rate is likely to fall soon from around 8 percent per year to a range of 3–4 percent. China can be viewed as a middle‐income convergence success story, grouped with Costa Rica, Indonesia, Peru, Thailand and Uruguay. Upper‐income convergence successes (toward which China is likely heading) include Chile, Hong Kong, Ireland, Malaysia, Poland, Singapore, South Korea and Taiwan.