TY - BOOK ID - 11262615 TI - A Real Model of Transitional Growth and Competitiveness in China AU - Lipschitz, Leslie. AU - Verdier, Genevieve. AU - Rochon, Celine. AU - IMF Institute. AU - International Monetary Fund. PY - 2008 SN - 1451914148 1462317464 1282840541 9786612840548 1451869606 145278440X PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Business & Economics KW - Economic History KW - Economic development KW - Investments, Foreign KW - Econometric models. KW - China KW - Economic conditions KW - Economic policy KW - Capital exports KW - Capital imports KW - FDI (Foreign direct investment) KW - Foreign direct investment KW - Foreign investment KW - Foreign investments KW - International investment KW - Offshore investments KW - Outward investments KW - Development, Economic KW - Economic growth KW - Growth, Economic KW - Cina KW - Kinë KW - Cathay KW - Chinese National Government KW - Chung-kuo kuo min cheng fu KW - Republic of China (1912-1949) KW - Kuo min cheng fu (China : 1912-1949) KW - Chung-hua min kuo (1912-1949) KW - Kina (China) KW - National Government (1912-1949) KW - China (Republic : 1912-1949) KW - People's Republic of China KW - Chinese People's Republic KW - Chung-hua jen min kung ho kuo KW - Central People's Government of Communist China KW - Chung yang jen min cheng fu KW - Chung-hua chung yang jen min kung ho kuo KW - Central Government of the People's Republic of China KW - Zhonghua Renmin Gongheguo KW - Zhong hua ren min gong he guo KW - Kitaĭskai︠a︡ Narodnai︠a︡ Respublika KW - Činská lidová republika KW - RRT KW - Republik Rakjat Tiongkok KW - KNR KW - Kytaĭsʹka Narodna Respublika KW - Jumhūriyat al-Ṣīn al-Shaʻbīyah KW - RRC KW - Kitaĭ KW - Kínai Népköztársaság KW - Chūka Jinmin Kyōwakoku KW - Erets Sin KW - Sin KW - Sāthāranarat Prachāchon Čhīn KW - P.R. China KW - PR China KW - Chung-kuo KW - Zhongguo KW - Zhonghuaminguo (1912-1949) KW - Zhong guo KW - Chine KW - République Populaire de Chine KW - República Popular China KW - Catay KW - VR China KW - VRChina KW - 中國 KW - Jhongguó KW - Bu̇gu̇de Nayiramdaxu Dundadu Arad Ulus KW - Bu̇gu̇de Nayiramdaqu Dumdadu Arad Ulus KW - Bu̇gd Naĭramdakh Dundad Ard Uls KW - Khi︠a︡tad KW - Kitad KW - Dumdadu Ulus KW - Dumdad Uls KW - Думдад Улс KW - Kitajska KW - 中国 KW - 中华人民共和国 KW - Capital movements KW - Investments KW - Economics KW - Statics and dynamics (Social sciences) KW - Development economics KW - Resource curse KW - China (Republic : 1949- ) KW - PRC KW - P.R.C. KW - BNKhAU KW - БНХАУ KW - Exports and Imports KW - Labor KW - Macroeconomics KW - Labor Economics: General KW - Wages, Compensation, and Labor Costs: General KW - Geographic Labor Mobility KW - Immigrant Workers KW - International Investment KW - Long-term Capital Movements KW - Aggregate Factor Income Distribution KW - Labour KW - income economics KW - Finance KW - Wages KW - Labor mobility KW - Income KW - Labor economics KW - China, People's Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:11262615 AB - We present a stylized real model of the Chinese economy with the objective of explaining two features: (1) domestic production is highly competitive in the sense that an accumulation of capital that raises the marginal product of labor elicits increases in employment and output rather than only in wages; and (2) even though the domestic saving rate is high, foreign direct investment is also substantial. We explain these features in terms of a conventional neoclassical growth model-with no monetary or nominal exchange rate policy-by including two aspects of the economy explicitly in the model: (1) low production wages are sustained by a large reserve army of rural labor which drives internal migration, and (2) domestic capital is distinct from importable capital and complementary with it in production. The results suggest that underlying real phenomena are important in explaining recent history; while nominal renmimbi appreciation may dampen price and wage increases, it would probably not change the real factors that have sustained rapid growth. ER -