Template-Type: ReDIF-Article 1.0
Author-Name: Miklós Losoncz
Author-Workplace-Name: Research professor at the Financial Institutions Department of the Institute of Finance
and Accounting of the Budapest Business School's Faculty of Finance and Accountancy
Studies of the Hungarian Academy of Sciences
Author-Email: losoncz.miklos@uni-bge.hu


Title: The Dilemmas of China’s Shift in Growth
Trajectory and Economic Governance

Abstract: The slowdown in China’s GDP growth in recent years suggests the exhaustion
of the driving forces of extensive economic growth and signals a need to switch
to an intensive growth trajectory. In order to successfully orchestrate this shift,
a reform of the economy’s operation is necessary, including a change in economic
policy objectives in order to avoid the middle income trap. This paper analyses
the changing role of the sources of economic growth and the main features of the
change in the growth trajectory in the post-2010 period, and their relationships with
economic governance based on the relevant domestic and international literature
and statistical data, without entering into specific details. According to the author’s
hypothesis, the Chinese government is prioritising the conflicting objectives of
economic rationality and socio-political stability at the expense of the former

Classification-JEL: O53, F60
Keywords: China, growth trajectory, change in economic model, structural reforms,
liberalisation, foreign trade policy, middle income trap
Pages: 21–49
Volume: 16
Issue: Sepcial Issue
Year: 2017
File-URL: http://english.hitelintezetiszemle.hu/letoltes/miklos-losoncz.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:16:y:2017:i:SpecialIssue:p:21-49