Faktory intenzivního hospodářského růstu v Číně

Abstract

From the developed countries' perspective China has become both a strong competitor in cheap production and a huge market with rapidly growing demand where they can realize their supply. But in terms of GDP per capita China is not even close to the developed countries' level however the rapid convergence is underway. That is why wages are inexorably increasing and price competitiveness decreasing. Therefore there is no way around but to boost productivity. The government's economic policy strategies are aimed to keep the economy growing in the future, which means to develop factors of intensive economic growth that is driven by technological change. This work examines how China manages to reach this goal. The work's aim is to assess the determinants of China's intensive economic growth and the government's support to development of non-price competitiveness. Firstly, there is illustration of the role of technological change in the theories of economic growth (the Keynesian theory, Solow-Swan model, endogenous theories such as AK models, models with human capital, R&D models assuming non-rival use of know-how and more realistic Schumpeterian models of competitive innovations that contain the process of creative destruction described earlier by J. A. Schumpeter). Having a deeper look inside the topic, the explication sheds light on the fundamental factors from which the institutional conditions that can be influenced by economic policies, are relevant. The theories' findings give the direction for the next chapters of what the factors of intensive growth are. Also according to the convergence theory that comes from the Solow-Swan model, the next chapters' methodology is based on comparative economics. Therefore China is compared to developed economies of OECD that it wants to catch up with, particularly United States, Japan and Germany – leading economies of America, Asia and Europe, significant trade partners and competitors. The third chapter, after brief introduction of the recent evolution of Chinese economy, analyses institutional environment that affects investments in technological advance. The first subsection compares attractiveness of business and investment environment with focus on new firms that are source of innovations according to the theory of creative destruction. The next subsection describes China's government policies that support research, development and innovations, its instruments and measures adopted in recent years. The last subsection of the chapter studies human capital development in China. The fourth chapter compares quantitative indicators of research, development and innovations which are R&D expenditures, R&D employment and patents. The chapter takes a closer look into their structure according to various viewpoints that are important for their effectiveness and future development. The last chapter turns its attention to the stage of real manifestation and performance of intensive growth. Therefore it analyses the development of productivity and technological structure of the economy. The conclusion follows. It makes a summarizing assessment of determinants of China's intensive economic growth and concurrently proposes possible improvements.