China's Capital and Productivity Measurement Using Financial Resources

This paper constructs China’'s capital stock, which is used in conjunction with a labor variable to estimate a Cobb-Douglas production function for the Chinese economy. Two panels of data are used – one for capital formation and one for sources of investment finance. Both national and provincial data are used for these two panels, thus giving a total of four capital-stock series. The Cobb-Douglas estimates show that China’'s total factor productivity was about 3.4 percent in the post-reform years. Productivity of coastal provinces is higher than inner provinces. Among the various sources of investment finance, foreign direct investment is more efficient than state-funded capital stock.


Issue Date:
2003
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/28469
Total Pages:
22
JEL Codes:
O47
Series Statement:
Center Discussion Paper No. 851




 Record created 2017-04-01, last modified 2017-08-24

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