Distorted Factor Markets, Government Intervention, and Excess Capital Accumulation: The Case of China
Distorted Factor Markets, Government Intervention, and Excess Capital Accumulation: The Case of China
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DOI：
10.4236/tel.2014.49102
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发表时间：
2014-11
期刊：
影响因子：
--
通讯作者：
Tao Gu
中科院分区：
文献类型：
--
作者：
Tao Gu
本文建立了一个简单的增长模型，该模型嵌入了扭曲的要素市场和政府干预，同时实现了高经济增长、低消费和高投资。所有这些现象都与中国自上世纪90年代以来的宏观经济数据相吻合，暗示着经济增长的低效。
This paper develops a simple growth model that embeds distorted factor markets and government intervention that achieves high economic growth, low consumption, and high investment simultaneously. All of these phenomena are consistent with Chinese macroeconomic data since the 1990s, implying the inefficiency of economic growth.