State Administration of Foreign Exchange (SAFE)
Institutional Affiliation: State Administration of Foreign Exchange (SAFE), P.R China
NBER Working Papers and Publications
|November 2016||From “Made in China” to “Innovated in China”: Necessity, Prospect, and Challenges|
with Shang-Jin Wei, Xiaobo Zhang: w22854
After more than three decades of high growth that was based on an exploration of its low-wage advantage and a relatively favorable demographic pattern in combination with market-oriented reforms and openness to the world economy, China is at a crossroad with a much higher wage and a shrinking work force. Future growth by necessity would have to depend more on its ability to generate productivity increase, and domestic innovation will be an important part of it. In this paper, we assess the likelihood that China can make the necessary transition. Using data on expenditure on research and development, and patent applications, receipts, and citations, we show that the Chinese economy has become increasingly innovative. In terms of drivers of innovation growth, we find that embracing expanded ...
Published: Shang-Jin Wei & Zhuan Xie & Xiaobo Zhang, 2017. "From "Made in China" to "Innovated in China": Necessity, Prospect, and Challenges," Journal of Economic Perspectives, American Economic Association, vol. 31(1), pages 49-70, Winter. citation courtesy of