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Sector-Level Productivity, Structural Change, and Rebalancing in China, Malhar Nabar, Kai Yan

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Abstract
This paper studies structural changes underlying China's remarkable and unprecedented growth in recent years. While patterns of structural transformation across China's provinces are broadly in line with international experience, one important difference is in labor productivity differentials between services and the rest of the economy. Specifically, the gap between labor productivity in the rest of the economy and services has widened across China's provinces as they have moved from low to middle income, which is contrary to the trend observed in cross-country experience. Evidence from a panel of China's provinces suggests that credit and labor market frictions have inhibited labor productivity growth in services relatively more than in the rest of the economy. Reducing these frictions is essential for achieving the next stage of China's development, one in which the service sector will need to play a more prominent role as an engine of growth. The evidence also suggests that improving labor productivity in services will lift the consumption share of GDP, thereby advancing the needed rebalancing of domestic demand in China
Table Of Contents
Cover; Contents; I. Introduction; II. Structural Change: The Development Experience of China's Provinces in Light of Cross-Country Trends; A. OECD Economies; Figures; 1. OECD; B. Upper Middle-Income Countries; 2. Upper Middle Income Countries; C. Asian Economies; D. China's Provinces; 3. Asia; 4. China; E. Manufacturing and Service Productivity Among Chinese Provinces; 5. Manufacturing and Service Sector Productivity; 6. China's Provinces-Sector-Level Productivity Differentials; III. The Influence of Macro Policy Initiatives on the Relative Efficiency of the Service Sector
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (33 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9780147554758

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