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Understanding PRC investment statistics

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  • Holz, Carsten A.

Abstract

Investment statistics of the People's Republic of China are a source of much consternation. Fixed asset investment, a concept originating in the planned economy, comes with severe limitations. While detailed sector, ownership, and other data are available, data coverage changes continuously over time, data quality is a problem, and the concept itself is hardly appropriate for economic analysis today. Gross fixed capital formation, an alternative investment measure based on the national accounts, may be more appropriate for economic analysis but the production of these data is shrouded in mystery and only the most aggregate data are available. No matter which measure of investment one chooses, the researcher or policy-maker faces a veritable minefield of data issues that this paper helps navigate.

Suggested Citation

  • Holz, Carsten A., 2020. "Understanding PRC investment statistics," China Economic Review, Elsevier, vol. 61(C).
    • Handle: RePEc:eee:chieco:v:61:y:2020:i:c:s1043951x20300584
    DOI: 10.1016/j.chieco.2020.101461
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    References listed on IDEAS

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    1. Holz, Carsten A., 2006. "New capital estimates for China," China Economic Review, Elsevier, vol. 17(2), pages 142-185.
    2. Holz, Carsten A, 2013. "Chinese statistics: classification systems and data sources," MPRA Paper 43869, University Library of Munich, Germany.
    3. Holz, Carsten A., 2006. "Response to Gregory C. Chow's "New Capital Estimates for China: Comments"," China Economic Review, Elsevier, vol. 17(2), pages 193-197.
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    Cited by:

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    2. Yating Dai & Jian Cheng & Daolin Zhu, 2022. "Understanding the Impact of Land Supply Structure on Low Consumption: Empirical Evidence from China," Land, MDPI, vol. 11(4), pages 1-18, April.

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    More about this item

    Keywords

    Fixed asset investment; Gross fixed capital formation; Newly increased fixed assets; National accounts; Chinese statistics; Data falsification;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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