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Capital inputs in the Chinese economy: Estimates for the total economy, industry and manufacturing

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  • Wang, Lili
  • Szirmai, Adam

Abstract

This paper presents new estimates of capital inputs in the Chinese economy. Estimates are made for the total economy (1953–2007), for the industrial sector (1953–2007) and for manufacturing (1985–2007). The capital input estimates for industry and manufacturing are also broken down by thirty regions. The paper makes a systematic attempt to apply SNA (System of National Accounts) concepts to the estimation of capital inputs, according to the Perpetual Inventory Method. It makes a clear distinction between capital services from a productivity perspective and wealth capital stocks. The paper provides a detailed analysis of the relevant Chinese statistical concepts and data. It provides an explanation of the procedures followed in constructing the new national and regional capital input series.

Suggested Citation

  • Wang, Lili & Szirmai, Adam, 2012. "Capital inputs in the Chinese economy: Estimates for the total economy, industry and manufacturing," China Economic Review, Elsevier, vol. 23(1), pages 81-104.
  • Handle: RePEc:eee:chieco:v:23:y:2012:i:1:p:81-104
    DOI: 10.1016/j.chieco.2011.08.002
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    Cited by:

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    2. Jidong Wu & Ying Li & Ning Li & Peijun Shi, 2018. "Development of an Asset Value Map for Disaster Risk Assessment in China by Spatial Disaggregation Using Ancillary Remote Sensing Data," Risk Analysis, John Wiley & Sons, vol. 38(1), pages 17-30, January.
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    6. Holz, Carsten A. & SUN, Yue, 2018. "Physical capital estimates for China's provinces, 1952–2015 and beyond," China Economic Review, Elsevier, vol. 51(C), pages 342-357.
    7. Wu, Harry X., 2011. "Rethinking China.s Path of Industrialization," WIDER Working Paper Series 076, World Institute for Development Economic Research (UNU-WIDER).
    8. Harry X. Wu, 2011. "Rethinking China's Path of Industrialization," WIDER Working Paper Series wp-2011-076, World Institute for Development Economic Research (UNU-WIDER).
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    10. Long, Zhiming & Herrera, Rémy, 2016. "Building original series of physical capital stocks for China's economy methodological problems, proposals for solutions and a new database," China Economic Review, Elsevier, vol. 40(C), pages 33-53.

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    More about this item

    Keywords

    Capital input; Capital services; Capital stocks; Regions; China; Industry; Manufacturing;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock

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