Abstract
This paper analyzes socially optimal shares of output invested in research and
development (R&D), education and physical capital to sustain China’s economic growth
as population growth slows. China’s high human capital income share closes the gap
between individual skill and the technology frontier. The long run level of output per
person is independent of population size. China’s spending on R&D and education
contributes more than physical capital investment to economic growth
Original language | English |
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Pages (from-to) | 1-6 |
Journal | Asian Economics Letters |
Volume | 2 |
Issue number | 1 |
DOIs | |
Publication status | Published - 2021 |