M. Niaz Asadullah: China's graduation from one of the poorest countries to a major economic power is considered by many as a miracle (Lin, Cai, and Li 1997). Nevertheless, the Chinese economy has experienced a growth slowdown in recent years, with some predicting that the per capita growth rate may even fall to a range of 3 to 4 percent in the near future (Barro 2016). This has prompted many to question the “China model.” This paper by Ding Lu is important for at least two reasons. First, it contributes to the growth accounting literature on China by decomposing the sources of per capita GDP growth by sector. The analysis is grounded in theory—the author modifies Masahiko Aoki's analytical framework of a unified growth theory and applies dual as well as multi-sectoral analyses to identify the sources of growth. Second, it is by far the most updated published...

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