China's Capital and Productivity Measurement Using Financial Resources

Kui-Wai Li ()
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Kui-Wai Li: City University of Hong Kong, Faculty of Business, Department of Economics & Finance

Yale School of Management Working Papers from Yale School of Management

Abstract: This 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.

Keywords: China Economic Reform; Provincial Growth and Productivity; Financial Resources (search for similar items in EconPapers)
JEL-codes: O47 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev, nep-sea and nep-tra
Date: 2004-07-28

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Persistent link: http://EconPapers.repec.org/RePEc:ysm:somwrk:ysm338

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