The new evidence of China's economic downturn: From structural bonus to structural imbalance.

The slowdown of China's economic growth in the middle-income stage has caused widespread concerns. Based on the analysis of economic structures to explain the downward trend of economic growth, this study expanded the Solow-Swan model to investigate the structural imbalances and evaluated their...

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Autores principales:	Yimin Chen, Yulin Liu, Xin Fang
Formato:	article
Lenguaje:	EN
Publicado:	Public Library of Science (PLoS) 2021
Materias:	Medicine R Science Q
Acceso en línea:	https://doaj.org/article/a02eeb7cd2374bcd82a564432563fd87
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spelling	oai:doaj.org-article:a02eeb7cd2374bcd82a564432563fd872021-12-02T20:08:02ZThe new evidence of China's economic downturn: From structural bonus to structural imbalance.1932-620310.1371/journal.pone.0257456https://doaj.org/article/a02eeb7cd2374bcd82a564432563fd872021-01-01T00:00:00Zhttps://doi.org/10.1371/journal.pone.0257456https://doaj.org/toc/1932-6203The slowdown of China's economic growth in the middle-income stage has caused widespread concerns. Based on the analysis of economic structures to explain the downward trend of economic growth, this study expanded the Solow-Swan model to investigate the structural imbalances and evaluated their impacts during the structural transformation in different stages and regions on the economic downturn. Considering the processes of production, distribution, and consumption, six structures were chosen for national and prefecture-levels in China from 1997 to 2017, including sectoral structure, population structure, investment and consumption structure, import-export structure, urban-rural income structure, and financial structure. The study found that China's comprehensive economic structure was significantly different before and after the middle-income stage, and structural bonus tended to decline. Structural imbalance presented a U-shaped pattern of decreasing first and then increasing, and the impact on economic growth underwent stages of suppression-promotion-suppression. There was a significant difference in the imbalance of six sub-structures and their impacts; furthermore, in the four regions of east, center, west, and northeast the observations were very different. Taken together, the imbalance of economic structure and economic transformation coexisted, and the economic growth slowed down. Based on the experiences from China, this paper provided some evidence for promoting structural optimization and transformation.Yimin ChenYulin LiuXin FangPublic Library of Science (PLoS)articleMedicineRScienceQENPLoS ONE, Vol 16, Iss 9, p e0257456 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Medicine R Science Q
spellingShingle	Medicine R Science Q Yimin Chen Yulin Liu Xin Fang The new evidence of China's economic downturn: From structural bonus to structural imbalance.
description	The slowdown of China's economic growth in the middle-income stage has caused widespread concerns. Based on the analysis of economic structures to explain the downward trend of economic growth, this study expanded the Solow-Swan model to investigate the structural imbalances and evaluated their impacts during the structural transformation in different stages and regions on the economic downturn. Considering the processes of production, distribution, and consumption, six structures were chosen for national and prefecture-levels in China from 1997 to 2017, including sectoral structure, population structure, investment and consumption structure, import-export structure, urban-rural income structure, and financial structure. The study found that China's comprehensive economic structure was significantly different before and after the middle-income stage, and structural bonus tended to decline. Structural imbalance presented a U-shaped pattern of decreasing first and then increasing, and the impact on economic growth underwent stages of suppression-promotion-suppression. There was a significant difference in the imbalance of six sub-structures and their impacts; furthermore, in the four regions of east, center, west, and northeast the observations were very different. Taken together, the imbalance of economic structure and economic transformation coexisted, and the economic growth slowed down. Based on the experiences from China, this paper provided some evidence for promoting structural optimization and transformation.
format	article
author	Yimin Chen Yulin Liu Xin Fang
author_facet	Yimin Chen Yulin Liu Xin Fang
author_sort	Yimin Chen
title	The new evidence of China's economic downturn: From structural bonus to structural imbalance.
title_short	The new evidence of China's economic downturn: From structural bonus to structural imbalance.
title_full	The new evidence of China's economic downturn: From structural bonus to structural imbalance.
title_fullStr	The new evidence of China's economic downturn: From structural bonus to structural imbalance.
title_full_unstemmed	The new evidence of China's economic downturn: From structural bonus to structural imbalance.
title_sort	new evidence of china's economic downturn: from structural bonus to structural imbalance.
publisher	Public Library of Science (PLoS)
publishDate	2021
url	https://doaj.org/article/a02eeb7cd2374bcd82a564432563fd87
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The new evidence of China's economic downturn: From structural bonus to structural imbalance.

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