Sector-Level Productivity, Structural Change, and Rebalancing in China:
This paper studies structural changes underlying China's remarkable and unprecedented growth in recent years. While patterns of structural transformation across China's provinces are broadly in line with international experience, one important difference is in labor productivity differenti...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2013
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 13/240 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper studies structural changes underlying China's remarkable and unprecedented growth in recent years. While patterns of structural transformation across China's provinces are broadly in line with international experience, one important difference is in labor productivity differentials between services and the rest of the economy. Specifically, the gap between labor productivity in the rest of the economy and services has widened across China's provinces as they have moved from low to middle income, which is contrary to the trend observed in cross-country experience. Evidence from a panel of China's provinces suggests that credit and labor market frictions have inhibited labor productivity growth in services relatively more than in the rest of the economy. Reducing these frictions is essential for achieving the next stage of China's development, one in which the service sector will need to play a more prominent role as an engine of growth. The evidence also suggests that improving labor productivity in services will lift the consumption share of GDP, thereby advancing the needed rebalancing of domestic demand in China |
| Beschreibung: | 1 Online-Ressource (32 p) |
| ISBN: | 1475525850 9781475525854 |
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| index_date | 2024-07-03T20:13:14Z |
| indexdate | 2024-07-10T09:35:21Z |
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| series2 | IMF Working Papers |
| spelling | Nabar, Malhar Verfasser aut Sector-Level Productivity, Structural Change, and Rebalancing in China Nabar, Malhar Washington, D.C International Monetary Fund 2013 1 Online-Ressource (32 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 13/240 This paper studies structural changes underlying China's remarkable and unprecedented growth in recent years. While patterns of structural transformation across China's provinces are broadly in line with international experience, one important difference is in labor productivity differentials between services and the rest of the economy. Specifically, the gap between labor productivity in the rest of the economy and services has widened across China's provinces as they have moved from low to middle income, which is contrary to the trend observed in cross-country experience. Evidence from a panel of China's provinces suggests that credit and labor market frictions have inhibited labor productivity growth in services relatively more than in the rest of the economy. Reducing these frictions is essential for achieving the next stage of China's development, one in which the service sector will need to play a more prominent role as an engine of growth. The evidence also suggests that improving labor productivity in services will lift the consumption share of GDP, thereby advancing the needed rebalancing of domestic demand in China Online-Ausg Yan, Kai Sonstige oth http://elibrary.imf.org/view/IMF001/20914-9781475525854/20914-9781475525854/20914-9781475525854.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Nabar, Malhar Sector-Level Productivity, Structural Change, and Rebalancing in China |
| title | Sector-Level Productivity, Structural Change, and Rebalancing in China |
| title_auth | Sector-Level Productivity, Structural Change, and Rebalancing in China |
| title_exact_search | Sector-Level Productivity, Structural Change, and Rebalancing in China |
| title_exact_search_txtP | Sector-Level Productivity, Structural Change, and Rebalancing in China |
| title_full | Sector-Level Productivity, Structural Change, and Rebalancing in China Nabar, Malhar |
| title_fullStr | Sector-Level Productivity, Structural Change, and Rebalancing in China Nabar, Malhar |
| title_full_unstemmed | Sector-Level Productivity, Structural Change, and Rebalancing in China Nabar, Malhar |
| title_short | Sector-Level Productivity, Structural Change, and Rebalancing in China |
| title_sort | sector level productivity structural change and rebalancing in china |
| url | http://elibrary.imf.org/view/IMF001/20914-9781475525854/20914-9781475525854/20914-9781475525854.xml |
| work_keys_str_mv | AT nabarmalhar sectorlevelproductivitystructuralchangeandrebalancinginchina AT yankai sectorlevelproductivitystructuralchangeandrebalancinginchina |