China's new sources of economic growth. Vol. 2, Human capital, innovation and technological change / edited by Ligang Song, Ross Garnaut, Cai Fang and Lauren Johnston.

China's efforts in searching for new sources of growth are increasingly pressing given the persistence of the growth slowdown in recent years. This year's book elucidates key present macroeconomic challenges facing China's economy in 2017, and the impacts and readiness of human capital, innovation and technological change in affecting the development of China's economy. The book explores the development of human capital as the foundations of China's push into more advanced growth frontiers. It also explores the progress of productivity improvement in becoming the primary mechanism by which China can sustain economic growth, and explains the importance of China's human capital investments to success on this front. The book demonstrates that technical change is a major contributor to productivity growth; and that invention and innovation are increasingly driving technical change but so far lumpily across regions, sectors and invention motivations. Included are chapters providing an update on reform and macroeconomic development, educational inequality, the role of intangibles in determining China's economic growth, and China's progress in transitioning towards being an innovative country. The book also covers the regional dimension of innovation and technological progress by sector: in agricultural productivity, renewable energy and financial markets. Chapters on trade, investment, regional cooperation and foreign aid explore further the mechanisms through which technological change and innovative activities are emerging locally and internationally.

China's path towards new growth: drivers of human capital, innovation and technological change / Ligang Song, Cai Fang and Lauren Johnston -- Part 1. Reform and macroeconomic development -- Reform dividends to sustain China's economic growth / Cai Fang and Xiaojing Zhang -- China's macroeconomic balancing act: shifting to new drivers of growth and sustaining financial stability / Yiping Huang, Yan Shen and Qiuzi Fu -- Internal convergence and China's growth potential / Yang Yao and Mengqi Wang -- Adjusting to the new domestic normal and the new international normal: supply-side structural reform 2.0 / Wing Thye Woo -- Part 2. Education and human capital -- Educating 'the masses' in China: unequal opportunities and unequal outcomes / Jane Golley and Sherry Tao Kong -- Intangible capital and China's economic growth: evidence from input-output tables / Shenglang Yang and Yixiao Zhou.

Part 3. Innovation and productivity -- China's transition to a more innovative economy: progress and challenges / Shang-Jin Wei, Zhuan Xie and Xiaobo Zhang -- Productivity, innovation and China's economic growth / Yanrui Wu, Xiumei Guo and Dora Marinova -- Empirical study of regional innovation capability and economic convergence in China / Chaofeng Yang, Zhiyun Zhao and Zhijuan Zhang -- China's patent protection and enterprise R & D expenditure / Zhifeng Yin and Hao Mao -- Specialist communities in China's aerospace technology and innovation system: the cultural dimension / Alanna Krolikowski -- Part 4. Technological change by sectors -- Mechanisation outsourcing and agricultural productivity for small farms: implications for rural land reform in China / Yu Sheng, Ligang Song and Qing Yi -- Technological progress in developing renewable energies / Kejun Jiang -- The China interbank repo market / Ross Kendall and Jonathan Lees.

Part 5. Technologies with trade and investment -- China's evolving role in global production networks: implications for Trump's trade war / Prema-chandra Athukorala -- China's overseas direct investment and reverse knowledge spillovers / Chunlai Chen -- Promoting the belt and road initiative by strengthening '5 + 1' cooperation / Biliang Hu, Qingjie Liu and Jiao Yan -- China's 'innovative and pragmatic' foreign aid: shaped by and now shaping globalisation / Lauren Johnston and Marina Rudyak.

Includes bibliographical references and index.

Print version record.

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