Social Sciences in China (Chinese Edition)

No. 3, 2024

 

Analysis of the Complex Dynamics of China’s Economic Growth under State Transition

(Abstract)

 

Fang Yi,Gao Liyuan and Zhang Yishan

 

From the perspective of state transition, we established a non-equilibrium analysis framework for economic growth to study the complex dynamics of economic jumps between different growth paths and the influence of the government. We find that under the conditions of initial and dynamic costs, government promotion can achieve state transition, and there exists a dynamic synergy mechanism between the government and the market. The attraction of potential equilibrium comes from the market mechanism, while the attraction of dynamic changes in potential equilibrium comes from the government. The dynamic synergy mechanism between the government and the market can achieve state transition, and throughout the entire state transition process, the per capita economic growth rate maintains high growth, allowing the government’s short-term behavior to be compatible with long-term goals and achieving unity between speed of growth and development quality. Currently, solving short-term problems with long-term development policies may enable the economy to stabilize and then rapidly enter a growth path transition, which is highly significant for the long-term sustainable development of the Chinese economy.