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1、JournalofEconomicPerspectivesVolume22,Number1Winter2008Pages4566AccountingforGrowth:ComparingChinaandIndiaBarryBosworthandSusanM.Collinshroughmostofthetwentiethcentury,onlythoseinthehigh-incomeindustrialcountries,lessthanone-fifthoftheworld’spopulation,haveTenjoyedthefruitsofeconomicwell-being.Howev
2、er,since1980,ChinaandIndiahaveachievedremarkableratesofeconomicgrowthandpovertyreduction—andtakentogether,thesecountriescompriseoverathirdoftheworld’spopula-tion.TheemergenceofChinaandIndiaasmajorforcesintheglobaleconomyhasbeenoneofthemostsignificanteconomicdevelopmentsofthepastquartercentury.Thispa
3、perexaminessourcesofeconomicgrowthinthetwocountries,com-paringandcontrastingtheirexperiencesoverthepast25years.Inmanyrespects,ChinaandIndiaseemsimilar.Botharelargegeographicallyandhaveenormouspopulationsthatremainverypoor.In1980,bothhadextremelylowpercapitaincomes.TheWorldBankandthePennWorldTabless
4、howGDPpercapitaforIndiawasroughlyequaltotheWorldBank’s1980averageforalllow-incomecountries,whilepercapitaGDPforChinawasabouttwo-thirdsoftheestimateforyBarryBosworthisSeniorFellowandholdstheRobertV.RoosaChair,BrookingsInstitu-tion,Washington,D.C.SusanM.CollinsistheJoanandSanfordWeillDeanofPublicPoli
5、cy,GeraldR.FordSchoolofPublicPolicy,UniversityofMichigan,AnnArbor,Michigan.ThispaperwaswrittenwhenCollinswasProfessorofEconomics,GeorgetownUniversity,andaSeniorFellow,BrookingsInstitution,bothinWashington,D.C.Theire-mailaddressesarebbosworth@brookings.eduandsmcol@umich.edu.46JournalofEconomicPe
6、rspectives1India.Since1980,bothcountrieshavesustainedimpressivelyrapidgrowth.AsshowninFigure1,GDPpercapitahasmorethandoubledinIndiaandincreasedaremarkableseven-foldinChina.However,manydetailsoftheireconomicgrowthexperiencesareinfactquitedifferent.Inthispaper,weinvestigatepatternsofeconomicgrowthfor
7、ChinaandIndiabyconstructinggrowthaccountsthatuncoverthesupply-sidesourcesofoutputchangeforeacheconomy.Someoftheresultsconfirmthemesthathaveemergedfromthepriorliteratureontheeconomicdevelopmentofthetwocountri
