PRODUCTIVITY DYNAMICS OF CHINESE MANUFACTURING FIRMS

Qu Feng, Zhifeng Wang () and Guiying Wu ()
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Zhifeng Wang: #x2020;Center of Economics, Finance and Management Sciences, Hunan University, 403 Administration Building, North Campus, Yuelu District, Changsha, Hunan 41006, China

The Singapore Economic Review (SER), 2019, vol. 64, issue 04, 899-919

Abstract: China has experienced high-speed catch-up growth with an average annual rate of over 8% in per capita GDP in the past four decades. Using growth accounting, Zhu (Understanding China’s growth: Past, present, and future. Journal of Economics Perspectives, 26(4), 103–124) finds that the growth of total factor productivity (TFP) accounts for 77% of China’s per capita GDP growth during 1978–2007, and argues that China’s TFP growth is mainly driven by resource reallocation due to market liberalization and institutional reforms. This paper aims to estimate China’s aggregate productivity growth by applying three leading methods of estimating firm-level production function on Chinese manufacturing firms during 1998–2007, and quantify the contribution of resource reallocation to productivity growth. In addition, we also empirically compare the three estimation methods in this large data set.

Keywords: China’s economic growth; TFP growth; production function; resource reallocation (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (2)

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Working Paper: Productivity Dynamics of Chinese Manufacturing Firms (2017)
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DOI: 10.1142/S0217590817450047

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