Modern Economic Growth in India and China: The Comparison Revisited, 1950-1980

1 What Can Be Learned about the Economies of China and India from Purchasing Power Comparisons?

“…But when China is compared to India, the estimates become implausible moving backward from 2000 (Column 5): in 1952 using official growth rates of both countries, an admittedly questionable excursion, India is 2.43 times China's per capita GDP. Scholars such as Eckstein (1977), Malenbaum (1982), Swamy (1973), Clark (1965), and others who have looked at both countries over the past 50 years, might have given India a slight edge in 1952; China was emerging from civil war to a frosty international reception, while India had gained its independence, written its constitution and launched its First 5 year plan with international assistance. However, despite the ups and downs of China until 1978, observers would put China above India at the start of reforms in 1978; this conclusion would be based on a variety of real measures like caloric consumption, energy consumption, primary education and health status.…”

The Impact of the Asian Miracle on the Theory of Economic Growth

“…China 5.5 3.2 1.0 2.1 2.2 5.1 9.1 6.2 11.1 7.6 8.9 Hong Kong 3.5 3.5 9.0 3.4 4.2 8.9 4.0 6.7 3.1 1.0 3.7 Indonesia 3.3 0.7 -0.6 3.8 4.7 5.9 3.9 5.1 5.8 -0.7 3.3 Korea (South) 6.5 1.0 3.2 8.6 10.1 5.4 6.5 7.8 6.4 3.5 4.0 Malaysia -1.3 0.9 3.4 2.9 5.0 6.2 3.2 3.1 6.9 2.3 2.4 Singapore 1.2 -0.4 2.9 10.7 7.7 8.2 2.2 6.2 5.9 3.5 2.8 Taiwan* 6.0 3.7 6.6 7.7 6.0 8.3 6.7 3.9 5.6 6.8 Thailand 3.0 2.7 3.9 5.3 2.9 5.6 3.7 8.4 7.6 -0 1950: Maddison 2001: World Bank, World Development Indicators Online. (http://web.worldbank.org/WBSITE/EXTERNAL/ DATASTATISTICS/0,,contentMDK:21725423~pagePK:64133150~piPK:64133175~theSitePK:239419,00.html) *1950: Maddison 2001: Asian Development Bank 2003aand 2003b.…”

High Performing Asian Economies

“…As indicated by Table 2, the annual rate of growth in per capita income during the plan was in the neighborhood of 2 percent. However, annual net investment was in the neighborhood of just 6 or 7 percent (Pepelases, Mears, and Adelman 1961;Malenbaum 1959Malenbaum , 1982.…”