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China's economic development quality grows faster than economic quantity
Guangyue Xu1, Haoyun Dong2, Xiaojiang Shi3
1Institute of Ecological Civilization Economy, School of Economics, Henan University, Kaifeng Henan, 475004, China.
Plos One
|July 28, 2023
Summary
China
Area of Science:
- Environmental Economics
- Sustainable Development
- Economic Growth Analysis
Background:
- Perception of China's economic growth focuses on quantity (GDP) over quality.
- Concerns include high carbon emissions, pollution, and resource consumption.
- Lack of comparative studies on economic quantity vs. quality growth rates.
Purpose of the Study:
- To develop a comprehensive indicator system for evaluating China's economic development quality.
- To compare the growth rates of economic quality with GDP growth from 1978-2017.
- To provide evidence for sustainable economic development management in China.
Main Methods:
- Development of a comprehensive economic development quality evaluation indicator system.
- Comparative analysis of the economic development quality index and GDP growth rates.
- Time-series analysis from 1978 to 2017.
Main Results:
- China's economic development quality index significantly increased from 1978-2017.
- The growth rate of economic development quality exceeded the average annual GDP growth rate.
- Improvements attributed to environmental protection, reduced income inequality, technological progress, and enhanced social welfare.
Conclusions:
- China's economic development quality has grown faster than its GDP quantity.
- The findings challenge the perception of China's growth solely focusing on economic output.
- China's development model offers valuable insights for other developing nations pursuing sustainable growth.
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