Publication:
China's Productivity Slowdown and Future Growth Potential

dc.contributor.authorBrandt, Loren
dc.contributor.authorLitwack, John
dc.contributor.authorMileva, Elitza
dc.contributor.authorWang, Luhang
dc.contributor.authorZhang, Yifan
dc.contributor.authorZhao, Luan
dc.date.accessioned2020-06-25T15:51:02Z
dc.date.available2020-06-25T15:51:02Z
dc.date.issued2020-06
dc.description.abstractChina’s economy grew by an impressive 10 percent per year over four decades. Productivity improvements within sectors and gains from resource reallocation between sectors and ownership groups drove that expansion. However, productivity growth has declined markedly in recent years. This paper extends previous macro and firm-level studies to show that domestic factors and policies contributed to the slowdown. The analysis finds that limited market entry and exit and lack of resource allocation to more productive firms were associated with slower manufacturing total factor productivity growth. Earlier reforms led to state-owned enterprises catching up to private sector productivity levels in manufacturing, but convergence stalled after 2007. Furthermore, the allocation of a larger share of credit and investment to infrastructure and housing led to lower returns to capital, a rapid buildup in debt, and higher risks to growth. China’s growth potential remains high, but its long-term growth prospects depend on reversing the recent decline in total factor productivity growth.en
dc.identifierhttp://documents.worldbank.org/curated/en/839401593007627879/Chinas-Productivity-Slowdown-and-Future-Growth-Potential
dc.identifier.urihttps://hdl.handle.net/10986/33993
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 9298
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectPRODUCTIVITY GROWTH
dc.subjectRESOURCE ALLOCATION
dc.subjectSTATE-OWNED ENTERPRISES
dc.subjectLOCAL GOVERNMENT
dc.subjectPRODUCTIVITY
dc.subjectECONOMIC GROWTH
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.titleChina's Productivity Slowdown and Future Growth Potentialen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleChina's Productivity Slowdown and Future Growth Potential
okr.date.disclosure2020-06-24
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/839401593007627879/Chinas-Productivity-Slowdown-and-Future-Growth-Potential
okr.identifier.doi10.1596/1813-9450-9298
okr.identifier.externaldocumentum090224b087ac97cf_1_0
okr.identifier.internaldocumentum32168371
okr.identifier.reportWPS9298
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/839401593007627879/pdf/Chinas-Productivity-Slowdown-and-Future-Growth-Potential.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryChina
okr.statistics.combined25528
okr.statistics.dr839401593007627879
okr.statistics.drstats20432
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Theory & Research
okr.topicPrivate Sector Development::Private Sector Economics
okr.unitMacroeconomics, Trade and Investment Global Practice
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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