GREEN TOTAL FACTOR PRODUCTIVITY MISMEASUREMENT WITHOUT CONSIDERING INTANGIBLES: EVIDENCE FROM CHINA

Qing Li, Kexing Yu and Yanrui Wu
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Qing Li: Department of Economics and Finance, SILC Business School, Shanghai University, Shanghai, P. R. China
Kexing Yu: ��Department of Economics, Business School, University of Western Australia, Perth, WA 6009, Australia
Yanrui Wu: ��Department of Economics, Business School, University of Western Australia, Perth, WA 6009, Australia

The Singapore Economic Review (SER), 2024, vol. 69, issue 07, 2331-2361

Abstract: This paper aims to re-estimate green total factor productivity (GTFP) with the consideration of intangible capital in Chinese provinces between 2003 and 2017. Intangible capital is broadly defined and categorized into computerized information, innovative property and economic competency property. The finding suggests that the conventional GTFP is underestimated especially during the post-financial crisis period in China. It is also found that technical efficiency, which shows the trend of deterioration without capitalizing intangibles, improves steadily and jointly with technological progress contributing to the improvement of productivity. The mismeasurement of GTFP is more severe in developed regions in China where intangible investment is more emphasized. Furthermore, regional GTFP shows the trend of convergence after intangible capital is incorporated and the rate of convergence turns to be faster in coastal regions than that in the interior.

Keywords: Green total factor productivity; intangible capital; data envelopment analysis; China (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1142/S0217590823500649

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