Endogenous Growth Theory And The Study Of China's Economic Growth

Sustainable growth is the major objective of economic policies of a country. According to Endogenous Growth Theory, in the long run, it is endogenous factors, such as knowledge and accumulations of human capital, that determine economic growth rate, in which technology progress is the most important impetus. Our research are not only based on the successful experience of developed countries, but also combines the latest theoretical advance with the specific situation of China. Now, China has got well prepared for industrialization, which means that China has been in the track of industrialization and high economic growth. The result of positive analysis indicates that, in China, economic growth has been mainly dependent on the increasing factor input. As a result, economic growth in China remains extensive. However, the extensively high growth does not agree with the current stage of economic development. Therefore, we should attach more importance to the investment of incorporeal capital, including investing largely in the accumulation of human capital and R&D, so as to industrialize the achievement of research and development, then to speed up economic growth from expensive to intensive pattern. Solving the above-mentioned problems will contribute to China抯 sustainable economic growth after take-off.The research paper is my preliminary study of economic growth in China. With the data available, it has analyzed our country抯 current economic growth and has drawn some original and effective conclusions. Since the empirical judgments are based on the reliable positive analyses, the conclusion has more policy implications to the economic reality.Written by Xue Hui梤ong (Finance)Directed by Pro. Fang He梥heng...