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Empirical Research on the Lewis Turning Point of China: From the Perspective of Capital Accumulation |
YU Yu xin1,ZHANG Pin3 |
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Abstract With the neoclassical model as the research benchmark, this paper has conducted an empirical study on Lewis Turning Point in China from the perspective of capital accumulation. This has avoided problems of some researches being inconsistent with Lewis model at present. It has also avoided the difficulty of data collection based on sector classification characteristics, which breaks through research methods centered on the labor market. The empirical results show that the rate of capital accumulation in China is significant positive relationship with per labor amount of capital, which is not consistent with the prediction of neo-classical system. It indicates that the return of capital has not yet entered a significant downward trend in China and means that the Turning Point meant in the Lewis model has not yet come.
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Received: 11 January 2012
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Corresponding Authors:
YU Yu xin
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