China's Capital and Productivity Measurement Using Financial Resources
AbstractThis paper constructs China's capital stock, which is used in conjunction with a labor variable to estimate a Cobb-Douglas production function for the Chinese economy. Two panels of data are used - one for capital formation and one for sources of investment finance. Both national and provincial data are used for these two panels, thus giving a total of four capital-stock series. The Cobb-Douglas estimates show that China's total factor productivity was about 3.4 percent in the post-reform years. Productivity of coastal provinces is higher than inner provinces. Among the various sources of investment finance, foreign direct investment is more efficient than state-funded capital stock.
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Bibliographic InfoPaper provided by Yale School of Management in its series Yale School of Management Working Papers with number ysm338.
Date of creation: 28 Jul 2004
Date of revision:
China Economic Reform; Provincial Growth and Productivity; Financial Resources;
Other versions of this item:
- Kui-Wai Li, 2003. "China's Capital and Productivity Measurement Using Financial Resources," Working Papers 851, Economic Growth Center, Yale University.
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-07-18 (All new papers)
- NEP-DEV-2004-07-18 (Development)
- NEP-SEA-2004-07-18 (South East Asia)
- NEP-TRA-2004-07-18 (Transition Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jefferson, Gary H. & Rawski, Thomas G. & Li, Wang & Yuxin, Zheng, 2000. "Ownership, Productivity Change, and Financial Performance in Chinese Industry," Journal of Comparative Economics, Elsevier, vol. 28(4), pages 786-813, December.
- Chow, G.C., 1990.
"Capital Formation And Economic Growth In China,"
67, Princeton, Woodrow Wilson School - Discussion Paper.
- Jefferson, Gary H. & Rawski, Thomas G. & Zheng, Yuxin, 1996. "Chinese Industrial Productivity: Trends, Measurement Issues, and Recent Developments," Journal of Comparative Economics, Elsevier, vol. 23(2), pages 146-180, October.
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