Factor Function Characteristics and Origin of Economic Growth of China

Zhiqing Dong (), Linhui Wang () and Jia Sun ()
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Zhiqing Dong: Center for Quantitative Economics, Jilin University, Changchun 130012, China
Linhui Wang: School of Economics, Northeast Normal University, Changchun 130117, China
Jia Sun: Economic Department, Changchun Taxation College, Changchun 130117, China

Frontiers of Economics in China-Selected Publications from Chinese Universities, 2011, vol. 6, issue 2, 229-248

Abstract: The paper makes an empirical study on factor contribution and its stage variation characteristics during 1952¨C2005 and 1978¨C2005 in China. GMM and OLS tests show that the robustness and significance level of the institution, the physical capital and human capital¡¯s contributions are much higher than other factors, and 70% of economic growth is boosted by the capital and the labor input. Factor contribution decomposition and TFP growth indicate trade has the most remarkable influence on economic growth. The state space model finds that physical capital, human capital, technological progress, finance, trade and institution have different effects on economic growth in different periods. Namely, factor contribution does have the characteristics of stage variation.

Keywords: factor contribution; economic growth; comparative empirical study (search for similar items in EconPapers)
JEL-codes: O11 O16 O43 (search for similar items in EconPapers)
Date: 2011
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