Linear Theory Of Fixed Capital And Chinas Economy
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| Author | : Bangxi Li |
| Publisher | : Springer |
| Total Pages | : 132 |
| Release | : 2017-03-23 |
| Genre | : Business & Economics |
| ISBN | : 9811040656 |
This book discusses both linear economic theory and its application to China's recent economy from, 1987-2000, with an emphasis on fixed capital. It starts with the development of Marx-Sraffa linear economic models with fixed capital. The author then addresses various topics, including formal explanations of Sraffa-Okishio-Nakatani’s (SON) reduction of the whole economy to its subsystem of brand-new commodities, the renewal dynamics of fixed capital and the Marx-Engles-Ruchti-Lohmann effect as well as its extension to the accelerated depreciation case; and simulations of the economic durability of fixed capital. Further, in a general joint-production system, equilibria are computed as the spectra of the matrix pencil defining the equilibrium of the systems and the so-called Cambridge equation are extended to the case of SON's economy.By simulating the case of all final products being invested for capital goods, it estimates the fixed capital coefficients from investment data on China's economy 1995-2000. Based on this, the book describes the wage-profit curves of the open China economy. By applying the estimated fixed capital coefficients, the book presents the computation of the labour values of major commodities in China, and the turnpike of the stage 1995-2000, with fixed capital. It compares the value system with the production price system, and thus points out some structural issues of China's economy that are worth discussing.
| Author | : Yi Wen |
| Publisher | : World Scientific |
| Total Pages | : 336 |
| Release | : 2016-05-13 |
| Genre | : Business & Economics |
| ISBN | : 9814733741 |
The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.
| Author | : Rémy Herrera |
| Publisher | : Emerald Group Publishing |
| Total Pages | : 273 |
| Release | : 2023-11-20 |
| Genre | : Business & Economics |
| ISBN | : 1804557501 |
Connecting fundamental, theoretical, and empirical subjects with the most current scholarship on value, money, profit and capital today, this book makes sense of our increasingly interconnected global economy, highlighting key issues and proposing real-world solutions from the most knowledgeable researchers in the field.
| Author | : Theodore Mariolis |
| Publisher | : Springer Nature |
| Total Pages | : 512 |
| Release | : 2021-05-29 |
| Genre | : Business & Economics |
| ISBN | : 981336260X |
This book develops a unified treatment of the income distribution–capital–value problems with respect to actual economies, and then gradually turns to the issues of effective demand and capitalist accumulation fluctuations from both political economy and economic policy perspectives. That treatment, on the one hand, places produced means of production, positive profits, and capital accumulation at the centre of the analysis and, on the other hand, is analytically based on the modern control theory. Hence, the authors’ investigation is concerned with input–output representations of actual single and joint production, heterogeneous labour, and open economies; zeroes in on the characteristic value distributions of the system matrices; and, finally, derives meaningful theoretical results consistent with the empirical evidence, and vice versa. The main topics addressed are the uncontrollable/unobservable aspects of the real-world economies, the powerful low-order spectral approximations and reconstructions of the inter-industry structure of production–value–distributive variables relationships, the critical-constructive appraisal of both “mainstream” and “radical” theories of value, the matrix demand multipliers and demand-switching policies in heterogeneous capital worlds, and the circular inter-actions amongst income distribution, effective demand, accumulation, and technical conditions of production. Written on the occasion of the 60th anniversary of the publication of both Piero Sraffa’s Production of Commodities by Means of Commodities and Rudolf E. Kalman’s paper “On the general theory of control systems”, this book provides a consistent and comprehensive framework for theoretical, empirical, and economic policy research.
| Author | : Eswar Prasad |
| Publisher | : International Monetary Fund |
| Total Pages | : 80 |
| Release | : 2004-06-17 |
| Genre | : Business & Economics |
| ISBN | : |
China’s transformation into a dynamic private-sector-led economy and its integration into the world economy have been among the most dramatic global economic developments of recent decades. This paper provides an overview of some of the key aspects of recent developments in China’s macroeconomy and economic structure. It also surveys the main policy challenges that will need to be addressed for China to maintain sustained high growth and continued global integration.
| Author | : Shi Li |
| Publisher | : Cambridge University Press |
| Total Pages | : 531 |
| Release | : 2013-10-31 |
| Genre | : Business & Economics |
| ISBN | : 1107002915 |
This book examines the evolution of economic inequality in China from 2002 to 2007; a sequel to Inequality and Public Policy in China (2008).
| Author | : Min Zhu |
| Publisher | : International Monetary Fund |
| Total Pages | : 46 |
| Release | : 2019-11-27 |
| Genre | : Business & Economics |
| ISBN | : 1513515357 |
China’s growth potential has become a hotly debated topic as the economy has reached an income level susceptible to the “middle-income trap” and financial vulnerabilities are mounting after years of rapid credit expansion. However, the existing literature has largely focused on macro level aggregates, which are ill suited to understanding China’s significant structural transformation and its impact on economic growth. To fill the gap, this paper takes a deep dive into China’s convergence progress in 38 industrial sectors and 11 services sectors, examines past sectoral transitions, and predicts future shifts. We find that China’s productivity convergence remains at an early stage, with the industrial sector more advanced than services. Large variations exist among subsectors, with high-tech industrial sectors, in particular the ICT sector, lagging low-tech sectors. Going forward, ample room remains for further convergence, but the shrinking distance to the frontier, the structural shift from industry to services, and demographic changes will put sustained downward pressure on growth, which could slow to 5 percent by 2025 and 4 percent by 2030. Digitalization, SOE reform, and services sector opening up could be three major forces boosting future growth, while the risks of a financial crisis and a reversal in global integration in trade and technology could slow the pace of convergence.
| Author | : Philippe Aghion |
| Publisher | : MIT Press |
| Total Pages | : 519 |
| Release | : 2024-09-17 |
| Genre | : Business & Economics |
| ISBN | : 0262553104 |
A comprehensive, rigorous, and up-to-date introduction to growth economics that presents all the major growth paradigms and shows how they can be used to analyze the growth process and growth policy design. This comprehensive introduction to economic growth presents the main facts and puzzles about growth, proposes simple methods and models needed to explain these facts, acquaints the reader with the most recent theoretical and empirical developments, and provides tools with which to analyze policy design. The treatment of growth theory is fully accessible to students with a background no more advanced than elementary calculus and probability theory; the reader need not master all the subtleties of dynamic programming and stochastic processes to learn what is essential about such issues as cross-country convergence, the effects of financial development on growth, and the consequences of globalization. The book, which grew out of courses taught by the authors at Harvard and Brown universities, can be used both by advanced undergraduate and graduate students, and as a reference for professional economists in government or international financial organizations. The Economics of Growth first presents the main growth paradigms: the neoclassical model, the AK model, Romer's product variety model, and the Schumpeterian model. The text then builds on the main paradigms to shed light on the dynamic process of growth and development, discussing such topics as club convergence, directed technical change, the transition from Malthusian stagnation to sustained growth, general purpose technologies, and the recent debate over institutions versus human capital as the primary factor in cross-country income differences. Finally, the book focuses on growth policies—analyzing the effects of liberalizing market competition and entry, education policy, trade liberalization, environmental and resource constraints, and stabilization policy—and the methodology of growth policy design. All chapters include literature reviews and problem sets. An appendix covers basic concepts of econometrics.
| Author | : Zhaoguang Hu |
| Publisher | : Elsevier |
| Total Pages | : 216 |
| Release | : 2013-11-01 |
| Genre | : Business & Economics |
| ISBN | : 0124201504 |
An Exploration into China's Economic Development and Electricity Demand by the Year 2050, is an exploratory study of national and regional economic development, energy demand and electricity demand in China by the year of 2050. China's economy grows rapidly and it is now the second largest economy in the world. In 2010, GDP reached 40 trillion Yuan and electricity consumption was second only to the United States, reaching 4.19 trillion kWh. Many people follow future (long-term) trends of Chinese economic development and demand for electricity closely and are especially interested in how development will look in 2030 and 2050. Based on the ILE4, this book examines the main features of China's economic development and electricity consumption since the economic reform of the 1980's. It includes an analysis of the intrinsic connection between electricity demand and economic growth and the changing trends of the adjustment of economic structure, regional layout optimization and development of the energy intensive industry, as well as how these factors impact China's demand for electricity. In addition, the book considers the next 20 years of China's economic development and growing demand for electricity based on the detailed simulations conducted by ILE4 in regional economic development and electricity consumption in 2030 as well as the prospective of China's electricity consumption and economic growth in the year 2050. - Allows readers China's economy from reform and opening up to 2050, including the national GDP, economy structure and economy of all the provinces and municipalities - Examines China's economic development and electricity consumption since the economic reform of the 1980's - Considers consumption of the next 20 years and demand by the year of 2050 based on simulations conducted by ILE4
| Author | : Hollis Burnley Chenery |
| Publisher | : Oxford University Press, USA |
| Total Pages | : 558 |
| Release | : 1979 |
| Genre | : Business & Economics |
| ISBN | : |
Development policy is concerned with long-term changes in production, investment, trade, employment, and income distribution. This book developes a set of techniques for analyzing these structural changes and applies them to some of the major problems of developing countries.
