From "Made in China" to "Innovated in China": Necessity, prospect, and challenges
After more than three decades of high growth based on its low-wage advantage and relatively favorable demographics--in combination with market-oriented reforms and openness to the world economy--China is at a crossroads with a much higher wage and a shrinking workforce. Future growth will depend, by...
| Autores principales: | , , |
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| Formato: | Journal Article |
| Lenguaje: | Inglés |
| Publicado: |
American Economic Association
2017
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| Acceso en línea: | https://hdl.handle.net/10568/147677 |
| _version_ | 1855532457628008448 |
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| author | Wei, Shang-Jin Xie, Zhuan Zhang, Xiaobo |
| author_browse | Wei, Shang-Jin Xie, Zhuan Zhang, Xiaobo |
| author_facet | Wei, Shang-Jin Xie, Zhuan Zhang, Xiaobo |
| author_sort | Wei, Shang-Jin |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | After more than three decades of high growth based on its low-wage advantage and relatively favorable demographics--in combination with market-oriented reforms and openness to the world economy--China is at a crossroads with a much higher wage and a shrinking workforce. Future growth will depend, by necessity, more on the generation of increased productivity, and domestic innovation will play an important part in this. In this paper, we assess the likelihood that China can make the necessary transition. Using data on expenditure on research and development, and patent applications, receipts, and citations, we show that the Chinese economy has become increasingly innovative. We will argue that rising wages and expanding markets are among the important drivers of China's growth in innovation. On the other hand, we find evidence of resource misallocation in the innovation area: while state-owned firms receive more subsidies, private firms exhibit more innovation results. Innovation can presumably progress even faster if resource misallocation can be tackled. |
| format | Journal Article |
| id | CGSpace147677 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2017 |
| publishDateRange | 2017 |
| publishDateSort | 2017 |
| publisher | American Economic Association |
| publisherStr | American Economic Association |
| record_format | dspace |
| spelling | CGSpace1476772025-02-24T21:56:57Z From "Made in China" to "Innovated in China": Necessity, prospect, and challenges Wei, Shang-Jin Xie, Zhuan Zhang, Xiaobo innovation working population economic growth economic development human resources research labour government productivity private sector subsidies patents remuneration public expenditure workers After more than three decades of high growth based on its low-wage advantage and relatively favorable demographics--in combination with market-oriented reforms and openness to the world economy--China is at a crossroads with a much higher wage and a shrinking workforce. Future growth will depend, by necessity, more on the generation of increased productivity, and domestic innovation will play an important part in this. In this paper, we assess the likelihood that China can make the necessary transition. Using data on expenditure on research and development, and patent applications, receipts, and citations, we show that the Chinese economy has become increasingly innovative. We will argue that rising wages and expanding markets are among the important drivers of China's growth in innovation. On the other hand, we find evidence of resource misallocation in the innovation area: while state-owned firms receive more subsidies, private firms exhibit more innovation results. Innovation can presumably progress even faster if resource misallocation can be tackled. 2017 2024-06-21T09:23:10Z 2024-06-21T09:23:10Z Journal Article https://hdl.handle.net/10568/147677 en https://doi.org/10.1257/jep.31.1.49 https://doi.org/10.1016/j.jdeveco.2021.102717 American Economic Association Wei, Shang-Jin; Xie, Zhuan; and Zhang, Xiaobo. 2017. From "Made in China" to "Innovated in China": Necessity, prospect, and challenges. Journal of Economic Perspectives 31(1): 49-70. https://doi.org/10.1257/jep.31.1.49 |
| spellingShingle | innovation working population economic growth economic development human resources research labour government productivity private sector subsidies patents remuneration public expenditure workers Wei, Shang-Jin Xie, Zhuan Zhang, Xiaobo From "Made in China" to "Innovated in China": Necessity, prospect, and challenges |
| title | From "Made in China" to "Innovated in China": Necessity, prospect, and challenges |
| title_full | From "Made in China" to "Innovated in China": Necessity, prospect, and challenges |
| title_fullStr | From "Made in China" to "Innovated in China": Necessity, prospect, and challenges |
| title_full_unstemmed | From "Made in China" to "Innovated in China": Necessity, prospect, and challenges |
| title_short | From "Made in China" to "Innovated in China": Necessity, prospect, and challenges |
| title_sort | from made in china to innovated in china necessity prospect and challenges |
| topic | innovation working population economic growth economic development human resources research labour government productivity private sector subsidies patents remuneration public expenditure workers |
| url | https://hdl.handle.net/10568/147677 |
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