Application of a modified CES production function model based on improved PSO algorithm

Maolin Cheng and Yun Han

Applied Mathematics and Computation, 2020, vol. 387, issue C

Abstract: In the analysis of the economic growth factors, people often use the CES (constant elasticity of substitution) production function model to calculate the contribution rate of influencing factors to economic growth. However, the traditional CES production function model does not consider the period characteristic of technological progress on economic growth, so this paper puts forward a modified CES production function model. On the parameter estimation of the model, this paper presents an improved PSO (particle swarm optimization) algorithm with high precision and fast convergence. Using the modified CES production function model, this paper provides a scientific method to calculate the contribution rates of all factors influencing the economic growth. Finally, this paper performs the empirical analysis of the contribution rates of all factors influencing China’s economic growth.

Keywords: CES production function; Contribution rate; PSO; Empirical analysis (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:apmaco:v:387:y:2020:i:c:s0096300320301478

DOI: 10.1016/j.amc.2020.125178

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