Scientific Publishing China's Rural Labor Migration And Its Economic Development: 20 (Series on Chinese Economics Research)

The continuous migration of rural labor to cities has changed the fundamental characteristics of China's labor market, profoundly affected the country's investments, savings, technological progress and economic cycle fluctuation, and more importantly, the rapid development of non-agricultural industries. Though the significant changes in China's labor market has played a vital role in the country's economic growth, it has not been duly valued and studied. This book aims to fill the gap by studying the role of rural labor in China's economic development.The book systematically presents the three most important characteristics of China's economic development and summarizes them as ""the riddle of China's rising return on capital"", ""the riddle of China's rising rate of saving"", and ""the riddle of 'Okun's law' not applicable to China"". It empirically and theoretically analyses the ""three riddles"" from the perspective of the migration of rural labor. It also proposes macro-policies and developmental strategies to address the ""three riddles"". About the Author Liu Xiaoguang obtained his PhD in economics from Peking University. He is the first instructor of National Academy of Development and Strategy at Renmin University of China and was a visiting scholar at New York University. His research interests are macroeconomics, international economics and real estate economics. His works were published in top Chinese economic journals, including China Economic Review, China & World Economy, Social Sciences in China, Economic Research Journal, Management World, The Journal of World Economy, Journal of Financial Research, China Economic Quarterly, Finance & Trade Economics, China Industrial Economics, The Journal of Quantitative & Technical Economics. Liu has received the Excellent Doctoral Dissertation Award of Peking University and is involved in several national-level research projects, such as projects for National Social Science Foundation, Beijing Social Science Foundation, and National Development and Reform Commission.