Keywords
systemic changes
econometric testing
advancing economy
China
How to Cite
Abstract
The framework of converging trajectories of macroeconomic policy initiatives is employed in the context of strategic discontinuity to study the national income of an advancing economy. A model of systemic changes based upon an equation of production and consumption is presented. In this study of the Chinese economy of 1980-2014, over time, the dynamics of policy imbalance is found to decrease considerably, which is consistent with the decreasing trend of shrinking the differences among the impact coefficients of government consumption, private investment, and private consumption.References
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