英文摘要 |
In 1960, China is the second poorest country in terms of GDP per capita; however, its per-capita GDP has grown by a factor of 132, with its per-capita GDP larger than the median. Its GDP has grown by a factor of 208, rising from the 8th economy (with its GDP being 7.7% of the U.S.'s) to the 2nd economy (with its GDP 74.8% of the U.S.'s). We trace the poorest ten countries over the sample period and try to find factors by which a poor country becomes richer. We examine the poverty trap theory from the perspective of structural and institutional analysis, and establish an operational definition for a country to escape from poverty trap. We identify countries escaping from poverty trap and discuss their patterns. We praise the theory of North (1990). Incremental change and evolution of institutions is the key for a country to grow. Finally, we illustrate that Deng Xiaoping plays a critical role in promoting Chinese economic and political reforms. |