We carefully utilize empirical methods and measurement, and find that the effect of human capital on China’s economic growth may be indirect through physical capital investment. This result is different than that found for OECD countries and has not been suggested by previous studies. In addition, in determining physical capital investment, workers with college education play a more significant role than those with primary and secondary education, suggesting the possibility of capital-skill complementarity. Role of industries in economic development pdf finding has implications for China’s future regional growth inequality: the inequality may increase rather than decrease, because physical capital investment continues to accumulate faster in the eastern area where the human capital stock is larger and thus leads to greater economic growth in the east.
Check if you have access through your login credentials or your institution. I thank the anonymous referee, Bai Chong-en, David Li, and Qian Yingyi for helpful comments, and Zhou Long for research assistance. This is a good article. Follow the link for more information. In the late 2000s, India’s growth reached 7. States have large responsibilities over their economies.
The economic growth has been driven by the expansion of services that have been growing consistently faster than other sectors. Serious concerns have been raised about the jobless nature of the economic growth. Favourable macroeconomic performance has been a necessary but not sufficient condition for the significant reduction of poverty amongst the Indian population. The improvements in some other non-economic dimensions of social development have been even less favourable. The progress of economic reforms in India is followed closely.
World Ranking an annual survey on economic freedom of the nations, India ranks 123rd as compared with China and Russia which ranks 138th and 144th respectively in 2014. March period of 2015 was at 7. 15, India’s GDP growth recovered marginally to 7. 15, India’s services sector grew by 10.