Fixed Investment and Economic Growth in China.
This paper attempts to investigate empirically the investment-growth relationship in China. Using the exogeneity framework pioneered by Engle et al. (1983) and Engle and Hendry (1993), we find that fixed investment is a key determinant of China's economic growth, which, surprisingly, has not been rigorously examined in the literature. The super exogeneity test results suggest that there exists a robust (or structurally invariant) relationship between capital formation and income growth, thereby giving credence to policy evaluation. Copyright 1999 by Kluwer Academic Publishers
Year of publication: |
1999
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Authors: | Kwan, Andy C C ; Wu, Yangru ; Zhang, Junxi |
Published in: |
Economic Change and Restructuring. - Springer, ISSN 1573-9414. - Vol. 32.1999, 1, p. 67-79
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Publisher: |
Springer |
Saved in:
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