Naslov
“Normal” growth of the Chinese economy: new metrics based on consumer confidence data

Autori
Sorić, Petar

Izvornik
Economics Bulletin (1545-2921) 40 (2020), 20; 1740-1746

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Consumer confidence ; global financial crisis ; China ; normal growth ; middle-income trap

Sažetak
The past three decades of remarkable Chinese economic development have triggered a noteworthy poverty reduction and the empowerment of Chinese consumers. However, the existing literature has been quite silent on Chinese economic sentiment and the way consumers perceive their economy as a whole. We build on that by focusing on consumer confidence data to propose an indicator of normal long-term growth for the Chinese economy. We note a significant decoupling of the stated indicator and the official GDP figures after the global financial crisis, implying that the Chinese economy is on a sub-optimal trajectory. Our findings support the middle- income trap hypothesis for the Chinese economy.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

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