| Budget Amount *help |
¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2015: ¥390,000 (Direct Cost: ¥300,000、Indirect Cost: ¥90,000)
Fiscal Year 2014: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
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| Outline of Final Research Achievements |
This project discussed the background, mechanism and welfare loss of the excess capital accumulation during the rapid economic growth period in China. The main feature of this study is to focus on China's imperfect competition factor markets and government intervention. In contrast with existing theories of economic growth, this paper develops a simple growth model in which both labor markets and financial markets are distorted, and the government intervenes in corporate management activities. The model can explain high economic growth, high investment, and low consumption simultaneously, which have occurred within the Chinese economy since the 1990s, and the welfare loss was calculated based on this model. During the project period, I wrote three articles, and the three papers are published from academic journals.
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