Chapter

Capital Accumulation After 1978

Chris Bramall

in Sources of Chinese Economic Growth, 1978-1996

Published in print September 2000 | ISBN: 9780198296973
Published online November 2003 | e-ISBN: 9780191596018 | DOI: http://dx.doi.org/10.1093/0198296975.003.0009

Series: Studies on Contemporary China

Capital Accumulation After 1978

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The share of investment rose after 1978 to a figure not seen since the heady days of the Great Leap Forward. There is no doubt that this higher rate of accumulation helped accelerate the growth rate (especially that of rural industry) but, as this chapter shows, it is hard to argue that investment was the prime mover. The investment rate was already very high at the close of the Maoist era and its increase thereafter was quantitative rather than qualitative. Furthermore, investment was not directed as well as it might have been. Transport infrastructure, education, and irrigation were all neglected, and this meant that growth was slower than it might otherwise have been.

Keywords: education; investment; irrigation; mechanization; Transport

Chapter.  12576 words. 

Subjects: Economic Development and Growth

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