Replication data for: Growing Like China
Principal Investigator(s): View help for Principal Investigator(s) Zheng Song; Kjetil Storesletten; Fabrizio Zilibotti
Version: View help for Version V1
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Project Citation:
Song, Zheng, Storesletten, Kjetil, and Zilibotti, Fabrizio. Replication data for: Growing Like China. Nashville, TN: American Economic Association [publisher], 2011. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112395V1
Project Description
Summary:
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We construct a growth model consistent with China's economic transition: high output growth, sustained returns on capital, reallocation within the manufacturing sector, and a large trade surplus. Entrepreneurial firms use more productive technologies, but due to financial imperfections they must finance investments through internal
savings. State-owned firms have low productivity but survive because of better access to credit markets. High-productivity firms outgrow low-productivity firms if entrepreneurs have sufficiently high savings. The downsizing of financially integrated firms forces domestic savings to be invested abroad, generating a foreign surplus. A calibrated version of the theory accounts quantitatively for China's economic transition. (JEL E21, E22, E23, F43, L60, O16, O53, P23, P24, P31)
Scope of Project
JEL Classification:
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E21 Macroeconomics: Consumption; Saving; Wealth
E22 Investment; Capital; Intangible Capital; Capacity
E23 Macroeconomics: Production
L60 Industry Studies: Manufacturing: General
O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
P23 Socialist Systems and Transitional Economies: Factor and Product Markets; Industry Studies; Population
P24 Socialist Systems and Transitional Economies: National Income, Product, and Expenditure; Money; Inflation
E21 Macroeconomics: Consumption; Saving; Wealth
E22 Investment; Capital; Intangible Capital; Capacity
E23 Macroeconomics: Production
L60 Industry Studies: Manufacturing: General
O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
P23 Socialist Systems and Transitional Economies: Factor and Product Markets; Industry Studies; Population
P24 Socialist Systems and Transitional Economies: National Income, Product, and Expenditure; Money; Inflation
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