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Sustainability of China's Economic Growth and Institutional Changes

Wang Xiaolu  
This paper evaluates the roles of inputs,institutional changes,structural adjustment and external environment in China's economic growth in the past two decades,assesses their remaining capacity in sustaining rapid growth,thus forecasts economic growth in the coming 20 years.It is found that faster capital formation has made an important contribution to the growth,although the more important contribution has been made by resource reallocation that results from institutional changes.The economy is facing challenge in changing into a more technology-leading growth pattern.Subject to further institutional reform and policy adjustment in several areas,the average growth rate may be sustained at as high as 6.4% in the coming two decades.
【CateGory Index】: F121
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