Total Factor Productivity Growth in Chinese Industry: 1952-2005

Selin Özyurt

Oxford Development Studies, 2009, vol. 37, issue 1, 1-17

Abstract: This paper presents new estimates of total factor productivity (TFP) growth in Chinese industry over the past half century that seek to improve on earlier estimates in several respects: better data series are developed for capital and labour; the production function is estimated with fewer restrictive assumptions and corrected for serial correlation; and the TFP estimates are adjusted for cyclical fluctuations. The paper also offers a broader than usual interpretation of TFP growth. Its main findings are: (i) that over the whole period 1952-2005 the main source of industrial output growth was capital accumulation; (ii) that during the period since 1980 TFP growth also contributed significantly to industrial output growth; and (iii) that TFP growth in Chinese industry accelerated from the late 1980s, probably as a result of changes in the pattern of ownership and increased integration into the world economy.

Date: 2009
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Working Paper: Total Factor Productivity Growth in Chinese Industry: 1952-2005 (2007)
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DOI: 10.1080/13600810802660836

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