Managing the Middle-Income Transition

Paul Vandenberg

ISBN 10: 1783477695 / ISBN 13: 9781783477692

Published by Edward Elgar Publishing Ltd, GB, 2015

About this Item

The growth model of the People's Republic of China (PRC) has been based on high investment and exports, a low-cost advantage, and government interventions. This model has successfully transformed the country from a low-income to an upper middle-income economy. However, the model has generated contradictions that could undermine future growth. Making the transition to high income requires greater reliance on efficiency, productivity, innovation, and market competition.This book examines the challenges faced by the PRC in sustaining robust growth and offers policy options for making a successful transition to high income while avoiding the middle-income trap. Chapters focus on all aspects of the PRC's economy including: the growth model, the role of government, industrial upgrading, the financial sector, fiscal management, human capital, the services sector, urbanization, labor market transitions, aging and the pension system, income inequality, managing external economic relations, and water scarcity.Policy analysts, researchers, academics, and students interested in the growth and development prospects of the PRC will find this book invaluable, as will practitioners and policymakers in government agencies and international organizations.Contributors: L. Brandt, F. Cai, J. Huang, Y. Huang, K. Jia, Y. Jiang, X. Lei, L. Li, J. Liu, Y.F. Lommen, N. Lustig, J. Ros, L. Song, P. Vandenberg, G. Wan, M. Wang, W.T. Woo, L. R.Wray, J. Xu, Y. Yao, C. Zhang, Y. Zhao, J.Zhuang.

Seller Inventory # LU-9781783477692

Bibliographic Details

• Title: Managing the Middle-Income Transition
• Publisher: Edward Elgar Publishing Ltd, GB
• Publication Date: 2015
• Language: English
• ISBN 10: 1783477695
• ISBN 13: 9781783477692
• Binding: Hardback
• Condition: New

About this title

Synopsis

The growth model of the People's Republic of China (PRC) has been based on high investment and exports, a low-cost advantage, and government interventions. This model has successfully transformed the country from a low-income to an upper middle-income economy. However, the model has generated contradictions that could undermine future growth. Making the transition to high income requires greater reliance on efficiency, productivity, innovation, and market competition.

This book examines the challenges faced by the PRC in sustaining robust growth and offers policy options for making a successful transition to high income while avoiding the middle-income trap. Chapters focus on all aspects of the PRC's economy including: the growth model, the role of government, industrial upgrading, the financial sector, fiscal management, human capital, the services sector, urbanization, labor market transitions, aging and the pension system, income inequality, managing external economic relations, and water scarcity.

Policy analysts, researchers, academics, and students interested in the growth and development prospects of the PRC will find this book invaluable, as will practitioners and policymakers in government agencies and international organizations.

Contributors: L. Brandt, F. Cai, J. Huang, Y. Huang, K. Jia, Y. Jiang, X. Lei, L. Li, J. Liu, Y.F. Lommen, N. Lustig, J. Ros, L. Song, P. Vandenberg, G. Wan, M. Wang, W.T. Woo, L. R.Wray, J. Xu, Y. Yao, C. Zhang, Y. Zhao, J.Zhuang

About the Author

Edited by Juzhong Zhuang, Asian Development Bank, Philippines, Paul Vandenberg, Thammasat University, Bangkok, Thailand and Yiping Huang, Peking University, the People’s Republic of China