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Total Factor Productivity Growth in Chinese Industry: 1952-2005

Selin Özyurt

Working Papers from LAMETA, Universtiy of Montpellier

Abstract: This paper presents a timely assessment of Chinese industrial productivity performances over the period 1952-2005. The total factor productivity (TFP) growth analysis is based on a Cobb-Douglas specification with aggregated annual data set. This study tackles some theoretical and methodological issues raised by critics of previous studies. First of all, the use of economic tools allows us to relax some restrictive hypothesis of the neoclassical growth framework such as competitive market behaviour, constant returns to scale production technology and Hicks neutral technological change. In addition, our TFP growth estimates are adjusted for business fluctuations. The paper also deals with the autocorrelation issue prevailing in most previous studies. Our major findings are: (i) In Chinese industry, between 1952 and 2005 capital accumulation has been the main engine of economic takeoff. (ii) During the post-reform period, TFP growth contributed significantly to economic growth. (iii) TFP gains have exhibited a sharply increasing pattern since the late 1980’s, along with the accelerated integration of China into the world economy.

Pages: 31 pages
Date: 2007-11, Revised 2007-11
New Economics Papers: this item is included in nep-bec, nep-cna, nep-eff and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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http://www.lameta.univ-montp1.fr/Documents/DR2007-13.pdf First version, 2007 (application/pdf)
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Journal Article: Total Factor Productivity Growth in Chinese Industry: 1952-2005 (2009) Downloads
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