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30 September 2010


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Anthony Piepe

Interesting paper.

while you have clearly made the case for the dependence of changes in consumption to changes in GDP,to what extent is this distribution politically managed.You mention the military sector as a brake on consumption.It`s expansion is surely a political decision not due to the market?

I`m also thinking of Stalin`s rapid industrialization in the thirties where consumption was supressed to maximize output.Or was starvation pay at the expense of GDP?

Best performing economies

Several economists have concluded that productivity gains (i.e., increases in efficiency in which inputs are used) were another major factor in China's rapid economic growth. The improvements to productivity were largely caused by a reallocation of resources to more productive uses, especially in sectors that were formally heavily controlled by the central government, such as agriculture, trade, and services.

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John Ross

  • Is Senior Fellow at Chongyang Institute for Financial Studies, Renmin University of China

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