In this paper,the authors have made the following findings after the fitting of China's economic growth rate series using an improved STR model:since 1949,great changes have taken place in China's economic gro...In this paper,the authors have made the following findings after the fitting of China's economic growth rate series using an improved STR model:since 1949,great changes have taken place in China's economic growth pattern but factor input remains to be the major source of China's economic growth,as reflected by the extensive pattern of economic growth;with the exception of capital,the marginal output of all other production factors has been on the increase,which suggests that the efficiency of China's factor allocation has been continuously improved;the marginal output of capital has been on the decline,which explains that the dependency on investment for economic growth has led to excessive investment;reform and opening up and reform of marketization have substantially increased the sustainability of China's economic growth.In addition,the authors have investigated the internal momentum of China's growth transformation and developed relevant policy recommendations.展开更多
基金supported by the Evaluation of China's Structural Dividend and Research on Relevant Policiesa Special Program of Cultural and Social Sciences Key Research Center of the Department of Education,Liaoning Province(GrantNo.Z J2013046)
文摘In this paper,the authors have made the following findings after the fitting of China's economic growth rate series using an improved STR model:since 1949,great changes have taken place in China's economic growth pattern but factor input remains to be the major source of China's economic growth,as reflected by the extensive pattern of economic growth;with the exception of capital,the marginal output of all other production factors has been on the increase,which suggests that the efficiency of China's factor allocation has been continuously improved;the marginal output of capital has been on the decline,which explains that the dependency on investment for economic growth has led to excessive investment;reform and opening up and reform of marketization have substantially increased the sustainability of China's economic growth.In addition,the authors have investigated the internal momentum of China's growth transformation and developed relevant policy recommendations.
