China’s Great Convergence and Beyond

Kjetil Storesletten and Fabrizio Zilibotti.

Annual Reviews of Economics

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Annual Review of Economics 2014  6  p.p.  333-362.



A recent wave of economic research has studied the transformation of China from a poor country in the 1970s to a middle-income economy today. Based on this literature, we discuss the factors driving China’s development process. We provide a historical account of China’s rise, fall, and resurgence. We then discuss the stylized facts associated with China’s growth process and review a comprehensive theory of its economic transition. Finally, we discuss China’s future. In particular, we review some recent studies about technological and politico-economic factors that may foster or hinder its future economic performance.

Published July 17, 2015 2:08 PM