Chinaâ€™s efforts in searching for new sources of growth are increasingly pressing given the persistence of the growth slowdown in recent years. This yearâ€™s book elucidates key present macroeconomic challenges facing Chinaâ€™s economy in 2017, and the impacts and readiness of human capital, innovation and technological change in affecting the development of Chinaâ€™s economy. The book explores the development of human capital as the foundations of Chinaâ€™s push into more advanced growth frontiers. It also explores the progress of productivity improvement in becoming the primary mechanism by which China can sustain economic growth, and explains the importance of Chinaâ€™s human capital investments to success on this front. The book demonstrates that technical change is a major contributor to productivity growth; and that invention and innovation are increasingly driving technical change but so far lumpily across regions, sectors and invention motivations. Included are chapters providing an update on reform and macroeconomic development, educational inequality, the role of intangibles in determining Chinaâ€™s economic growth, and Chinaâ€™s progress in transitioning towards being an innovative country. The book also covers the regional dimension of innovation and technological progress by sector: in agricultural productivity, renewable energy and financial markets. Chapters on trade, investment, regional cooperation and foreign aid explore further the mechanisms through which technological change and innovative activities are emerging locally and internationally.
|Title of host publication||China's New Sources of Economic Growth (Volume 2): Human Capital, Innovation and Technological Change|
|Editors||Ligang Song, Ross Garnaut, Cai Fang, Lauren Johnston|
|Place of Publication||Australia|
|Publication status||Published - 2017|