Article

Development Patterns in China and India: Perspective with A Ces Production Function

Kamhon Kan and Yong Wang

in The Oxford Handbook of the Indian Economy

Published in print March 2012 | ISBN: 9780199734580
Published online November 2012 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199734580.013.0030

Series: Oxford Handbooks

 Development Patterns in China and India: Perspective with A Ces Production Function

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This article builds on the voluminous India-China literature, which still lacks a theoretical framework to understand India's and China's growth patterns. This article builds a simple theoretical model to understand India's and China's different growth patterns. An interesting stylized fact motivates this exercise: from 1985 to 2004—compared with India—China has had considerably higher rates of physical capital formation; much higher ratios of measured physical to human capital; and a more physical capital friendly public policy. To explain these facts, the article uses a one-sector growth model with two accumulating factors (physical capital [K] and human capital [H]).

Keywords: theoretical model; growth pattern; Indian economy; physical capital formation; human capital; one-sector growth model

Article.  7408 words. 

Subjects: Economics ; Economic Development and Growth ; Agricultural, Environmental, and Natural Resource Economics

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