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Estimation of China's provincial capital stock (1952-2004) with applications

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  • Jun Zhang
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    Abstract

    Construction of physical capital stock data is a key element for estimating production functions, measuring total factor productivity growth, and for growth accounting. Existing literature, however, shows great variations in the estimates of China's national capital stocks because different methodologies and statistical sources were used. Systematic improvements and adjustments to China's GDP accounting practices have made it possible to produce a consistent and comparable series for provincial level capital stock using the perpetual inventory method (PIM). This article recommends a standardized procedure in constructing the level of capital stock for 30 Chinese provinces from 1952 to 2004. The merit of such statistical construction, although with some drawbacks, is that the series can be easily updated to more recent years using official statistics. Applying our capital stock data, we estimate total factor productivity growth and characterize the spatial pattern across provinces in post-reform China.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/14765280802028302
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Journal of Chinese Economic and Business Studies.

    Volume (Year): 6 (2008)
    Issue (Month): 2 ()
    Pages: 177-196

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    Handle: RePEc:taf:jocebs:v:6:y:2008:i:2:p:177-196

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    Related research

    Keywords: capital stock; total factor productivity;

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    Cited by:
    1. Yang, Mian & Yang, Fu-Xia & Chen, Xing-Peng, 2011. "Effects of substituting energy with capital on China's aggregated energy and environmental efficiency," Energy Policy, Elsevier, vol. 39(10), pages 6065-6072, October.
    2. Dreger, Christian & Zhang, Yanqun, 2013. "On the relevance of exports for regional output growth in China," Discussion Papers 331, European University Viadrina Frankfurt (Oder), Department of Business Administration and Economics.
    3. Il Houng Lee & Murtaza H. Syed & Xin Wang, 2013. "Two Sides of the Same Coin? Rebalancing and Inclusive Growth in China," IMF Working Papers 13/185, International Monetary Fund.

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