Review on the Economic Growth Theory and China Experience

Economic growth is the core of economics,and the growth and development issues arises associated with the birth of the Western economics.Growth theory means to explain growth evolving the direction of the development.The new-classical growth theory rose in the 1950s,then gradual declined,and finally revived again in late 1980s.This study reviews the context of growth theory,discusses the theoretical connotation of endogenous growth theory,and analyzes the issues such as fiscal expenditure and fiscal decentralization involved in the explanations on the development mystery of China economy made by Chinese experts.Some comments are made on economic development in China.