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Yi Joong Won
Department of Economics and Statistics, Korea University, 2511 Sejong-ro, Sejong 30019, Korea

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Journal article
Published: 12 November 2019 in Sustainability
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On October 18, 2017, Chinese President Xi Jinping presented the blueprint for building a modernized socialist nation through the realization of the Xiao Kang (every nation enjoys a peaceful and affluent life; it is meaningless to eliminate the poor) social construction at the 19th Congress of China. Subsequent to the 2008 financial crisis, the world has moved on to the new economic status of the “new normal”. China has also entered the era of Xinchang Thai, which is moving from the high-growth to the moderate-growth phase. Therefore, the government of China emphasizes privatization, liberalization, and deregulation. China is also influenced by government policies due to the nature of socialism. This study confirms China’s current stage of economic development, based on Barro’s theory. Thus, we use a quantile regression model and examine the correlation between economic growth and functional classification of government expenditure during Xi Jinping’s term of office. Furthermore, we selected Korea as a comparative country, as the two countries have common features.

ACS Style

Jong Chan Lee; Yi Joong Won; Sang Young Jei. Study of the Relationship between Government Expenditures and Economic Growth for China and Korea. Sustainability 2019, 11, 6344 .

AMA Style

Jong Chan Lee, Yi Joong Won, Sang Young Jei. Study of the Relationship between Government Expenditures and Economic Growth for China and Korea. Sustainability. 2019; 11 (22):6344.

Chicago/Turabian Style

Jong Chan Lee; Yi Joong Won; Sang Young Jei. 2019. "Study of the Relationship between Government Expenditures and Economic Growth for China and Korea." Sustainability 11, no. 22: 6344.