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Firm Size and Economic Growth in China

이근|Shanji Xin
국제학연구소 (The Keimyung Institute for International Studies)|2015.06|Journal of International and Area Studies|제22권 제1호|pp. 93-112|DOI 10.23071/jias.2015.22.1.93

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Chinaeconomic growthsmall and medium-sized enterprises (SMEs)firm sizebig businessaverage size of firms
주제분류정치외교학

초록

This paper investigates the roles and significance of firms of various sizes in economic growth in China. This paper finds that the small firms have been the engine of growth in China, as increasing their share has been positively associated with economic growth. In contrast, we find that increasing the share as well as the number of big businesses have a significant and negative effect on economic growth, and that increasing the share of the medium-sized firms have negative or insignificant effect on economic growth in China. Most interestingly we find that the positive contribution of small firms and their increasing shares are largely owing to the expansion of the average size of them, rather than the increase in their absolute numbers of which the impact on growth is insignificant.

Abstract

This paper investigates the roles and significance of firms of various sizes in economic growth in China. This paper finds that the small firms have been the engine of growth in China, as increasing their share has been positively associated with economic growth. In contrast, we find that increasing the share as well as the number of big businesses have a significant and negative effect on economic growth, and that increasing the share of the medium-sized firms have negative or insignificant effect on economic growth in China. Most interestingly we find that the positive contribution of small firms and their increasing shares are largely owing to the expansion of the average size of them, rather than the increase in their absolute numbers of which the impact on growth is insignificant.

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