The Impact of Socio-Political, and Globalization Factors on China’s Economic Development

This study examines the transition of China from a poor economy to a global economic powerhouse. The aim is to identify the key factors driving China's economic development during a low, medium, and high transition period, taking into account social, political, and globalization factors. The Multiple Threshold Nonlinear Autoregressive Distributed Lag (MT-NARDL) model was used to conduct a comprehensive assessment from 1990 to 2021. The study found that the export of G&S boosts both short- and long-run growth during high transition periods. Additionally, medium- and high-tech exports promote long-run growth during low transition periods, while FDI promotes both short- and long-run growth. R&D has a short-run impact, while HDI boosts short-run growth in high transition periods. Furthermore, during medium transition periods, urbanization stimulates both short-run and long-run growth. In high transition periods, government effectiveness promotes long-run growth. JEL Classification: F63, G18, F41, J24,O11