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Aggregate Investment in People’s Republic of China: Some Empirical Evidence

dc.contributor.authorXinhua He
dc.contributor.authorDuo Qin
dc.description.abstractCapital investment holds a key role in the economic growth and performance of the People’s Republic of China (PRC). During the last two decades, fixed capital formation has taken up roughly one third of gross domestic product (GDP) and kept a double digit growth on average, albeit with remarkably volatile dynamics (5.5 percent growth in 1981, nearly 40 percent in 1985, −7 percent in 1989, over 60 percent in 1993, down to 5 percent in 1999, and well above 20 percent in 2003). Fixed capital investment was dominantly driven by government plans under the old centrally planned economic regime. What drives the fast-growing and volatile aggregate investment now that the PRC economy has become increasingly market-driven after over two decades of reforms? How much, in particular, is aggregate investment driven by market forces and how much is still affected by policy-led factors?
dc.publisherAsian Development Bank
dc.titleAggregate Investment in People’s Republic of China: Some Empirical Evidence
dc.subject.expertDevelopment Economics
dc.subject.expertRegional Economic Development
dc.subject.expertEconomic Impact
dc.subject.expertAsian Development Bank
dc.subject.adbEconomies in transition
dc.subject.adbEconomic agreements
dc.subject.adbDevelopment indicators
dc.subject.adbEconomic development
dc.subject.naturalComparative economics
dc.subject.naturalRegional economics
dc.subject.naturalEconomic development projects
dc.contributor.imprintAsian Development Bank
oar.adminregionEast Asia Region
oar.countryPeople's Republic of China
oar.authorHe, Xinhua
oar.authorQin, Duo

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  • Asian Development Review
    The Asian Development Review (ADR) is a professional journal for disseminating the results of economic and development research relevant to Asia and the Pacific. Since 1983, the ADR has been an important part of the history of the Asian Development Bank and its mission to reduce poverty across Asia and the Pacific.

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