This paper examines the effect of supply-side structural reforms on China's potential economic growth rate in the coming decade according to the data the authors have gathered. Under the rapid growth scenario with th...This paper examines the effect of supply-side structural reforms on China's potential economic growth rate in the coming decade according to the data the authors have gathered. Under the rapid growth scenario with the implementation of supply-side structural reforms, China's potential economic growth rate will reach an average of 6.5% and 5.8% respectively in the 13th Five-year Plan (2016-2020) and 14th Five-year Plan (2021-2025) periods. These rates are 0.2 and 0.3 percentage points higher, respectively, than that under the baseline scenario with the inertia of historic trends. In implementing supply-side structural reforms, China must transform governmental functions, break monopolies, create a comprehensive competitive market environment, foster the creation of pro-innovation mechanisms, refocus on quality and efficiency, and raise capital utilization and labor productivity.展开更多
Amidst growing environmental protection intensity by the Chinese government, this paper investigates the effects of environmental regulation on China's industrial pollution treatment productivity and environmental TF...Amidst growing environmental protection intensity by the Chinese government, this paper investigates the effects of environmental regulation on China's industrial pollution treatment productivity and environmental TFP. By estimating China's pollution treatment productivity between 2001 and 2008 and analyzing environmental regulation intensity and the effects of the relevant factors and pollution treatment productivity using panel data, this paper discovers that (1) pollution treatment productivity contributed a significant share of about 40% to industrial environmental TFP during the investigation period; (2) environmental regulation may not necessarily cause adverse impacts on pollution treatment efficiency and productivity but demonstrates a U-shaped relationship: when the share of pollution treatment cost in industrial value-added is above the range of 3.8%-5.1%, environmental regulation is likely to promote pollution treatment productivity and thus environmental TFP Judging by the estimation result, enhancing environmental protection and expediting the development of ecological civilization are conducive to China "s economic transition towards an intensive, efficient, circular, and sustainable development pattern. China's current industrial development has the capacity to tolerate a rather demanding level of pollution treatment and management and China needs to further rely on energy conservation and the environmental production industries to promote the progress of pollution treatment technologies.展开更多
This paper falls into the broad area of economic geography and economics of creativity,and it presents an alternative approach to explain why total factor productivity(TFP)growth is different across China′s regions.I...This paper falls into the broad area of economic geography and economics of creativity,and it presents an alternative approach to explain why total factor productivity(TFP)growth is different across China′s regions.It establishes an empirical model to estimate the spatial agglomeration effects of creative industries on regional TFP growth,using China′s provincial panel data during the period of 2003 to 2010.We found that the creative industries agglomeration(CIA)has significant and positive impact on regional TFP growth.The result also implies that the CIA can facilitate regional TFP growth through promoting regional innovation instead of improving regional efficiency.Therefore,we argue that policy makers should take some measures to retain and establish more creative zones.展开更多
Market-oriented economic transition since 1978 has led to remarkable economic development in China. In this study, we use the National Economic Research Institute (NERI) Index of Marketization and a panel data model...Market-oriented economic transition since 1978 has led to remarkable economic development in China. In this study, we use the National Economic Research Institute (NERI) Index of Marketization and a panel data model to investigate the quantitative contributions of marketization to China's total factor productivity (TFP) and economic growth. Our results indicate that marketization contributed 1.45 percentage points on average to China's annual economic growth rate during the period from 1997 to 2007 and accounted for 39.2 percent of the increase in TFP. Marketization significantly improved resource allocation. However, economic transition in China has not yet been completed and sustainability of future growth will depend on further market-oriented reforms.展开更多
Currently, the agricultural growth in developed countries mainly relies on the improvement of productivity, which is also the target for China. Accordingly, the purpose of this study was to describe the spatial-tempor...Currently, the agricultural growth in developed countries mainly relies on the improvement of productivity, which is also the target for China. Accordingly, the purpose of this study was to describe the spatial-temporal evolution pattern of agricultural productivity, to reveal changes in total factor productivity in 2ooo-2olo, and analyze the impact of these changes in northwestern Sichuan plateau, China. Using data envelopment analysis (DEA) and the Malmquist Index, an in-depth study was conducted on agricultural productivity and changes in total factor productivity of 31 counties in northwestern Sichuan plateau. Results indicated that: (1) geographically, counties with optimal efficiency were mainly located in the north of northwestern Sichuan plateau and those with the lowest efficiency, in the south; (2) relative to pure technical efficiency, scale efficiency was the dominant factor in determining agricultural productivity; (3) the redundancy rate of input factors in zolo was slightly lower than that in zooo, thereby indicating an improved utilization of input factors to a certain extent and a great potential for further improving such utilization; (4) during the 2ooo-2olo period, the agricultural total factor productivity had an average annual growth rate of 8.3%, but the growth rates in various regions differed widely; (5) technical progress was the dominant factor promoting the improvement of total factor oroductivitv inagriculture. The disparities in spatial distribution may be due to the differences of natural conditions, former level agricultural productivity between counties. The findings are valuable for the government to make sustainable development policies for agriculture and improving agricultural development in northwestern Sichuan plateau.展开更多
We use the directional slacks-based measure of efficiency and inverse distance weighting method to analyze the spatial pattern evolution of the industrial green total factor productivity of 108 cities in the Yangtze R...We use the directional slacks-based measure of efficiency and inverse distance weighting method to analyze the spatial pattern evolution of the industrial green total factor productivity of 108 cities in the Yangtze River Economic Belt in 2003–2013.Results show that both the subprime mortgage crisis and ‘the new normal' had significant negative effects on productivity growth,leading to the different spatial patterns between 2003–2008 and 2009–2013.Before 2008,green poles had gathered around some capital cities and formed a tripartite pattern,which was a typical core-periphery pattern.Due to a combination of the polarization and the diffusion effects,capital cities became the growth poles and ‘core' regions,while surrounding areas became the ‘periphery'.This was mainly caused by the innate advantage of capital cities and ‘the rise of central China' strategy.After 2008,the tripartite pattern changed to a multi-poles pattern where green poles continuously and densely spread in the midstream and downstream areas.This is due to the regional difference in the leading effect of green poles.The leading effect of green poles in midstream and downstream areas has changed from polarization to diffusion,while the polarization effect still leads in the upstream area.展开更多
The present economical conditions on today's world require specific point of view and policy making in business agencies. In this competitive world to achieve competence, competitive advantages in order to better gov...The present economical conditions on today's world require specific point of view and policy making in business agencies. In this competitive world to achieve competence, competitive advantages in order to better governance, organizations have to increase their competitive powers through promotion and productivity. One of the fundamental approaches to elevate the productivity level is finding the complications and obstacles, and arise planning to remove them. In order to understand organizational complication, we have tried to take critical factors of success and continue improvement into consideration to demonstrate a model to find the main and radical problems and complications and recognize the recoverable areas in the business agencies. In order to verify and validate the performed research, he planned model has been accomplished in the Hydropower Plant Department, positive and acceptable results were obtained and organizations total factor productivity improvement was achieved which was appreciated by the organization.展开更多
This paper studies the total factor productivity (TFP) of banks in Malaysia with the emphasis on comparing the relative productivities of Islamic and Conventional banks. The Malmquist index approach is used to decom...This paper studies the total factor productivity (TFP) of banks in Malaysia with the emphasis on comparing the relative productivities of Islamic and Conventional banks. The Malmquist index approach is used to decompose productivity growth into technical efficiency and technological change. The productivity growth is measured and decomposed into technical change and efficiency change. The efficiency change is further decomposed into pure efficiency change and scale efficiency. It is found that Islamic banks' productivity growth is limited by its lack of technological change compared to its conventional counterparts. Nonetheless, both types of banks are operating at the correct level in terms of scale or size.展开更多
Based on extensive micro data sets, this paper examines the relationship among large-scale entry and exit, competition and total factor productivity (TFP) growth of China's industry during economic transition and m...Based on extensive micro data sets, this paper examines the relationship among large-scale entry and exit, competition and total factor productivity (TFP) growth of China's industry during economic transition and market opening. We have arrived at these findings: market opening spurs entry and exit of large numbers of non-state-owned enterprises (non-SOEs) and facilitates dynamic competition; through the stimulation effect of competition, entry and exit push TFP growth on the part of enterprises; through the resource reallocation effect, entry and exit promote growth of the aggregate TFP. However, results indicate that the resource allocation efficiency remains very low in capital-intensive industries where the government intervenes a lot. To conclude, promoting open competition is significant to the growth of industrial sectors 'productivity.展开更多
That SOEs are inefficient is still a consensus in most economic literature. However, in recent studies, more and more arguments are made in favor of the efficiency of SOEs, yet existing empirical studies are mostly ba...That SOEs are inefficient is still a consensus in most economic literature. However, in recent studies, more and more arguments are made in favor of the efficiency of SOEs, yet existing empirical studies are mostly based on production industry data as samples. On the basis of adopting distribution samples and conducting a cross-sector comparison between the production industry and the distribution sector, this paper offers a multi-perspective empirical assessment on the efficiency of SOEs. Through the analysis of major JTnancial indicators and adopting the Data Envelopment Analysis-Malmquist index for total factor productivity comparison, we find that SOEs generally do not have any disadvantage in efficiency and their superior efficiency is particularly pronounced in the distribution sector as compared with production industry. Moreover, the high share and high efficiency of state capital in the wholesale sector needs particular attention. This paper employs case studies to reveal the positive correlation between the assets-heavy operation of state-owned wholesale firms and their profitability. The implications are as follows: policymakers must deliberate prudently before deciding to withdraw or increase state capital in various sectors; in the wholesale sector where state capital is more efficient, the functions of state capital can be bolstered by increasing its presence in the sector," the notion that state capital must be withdrawn from competitive sectors cannot be adopted likely, nor should the benefits of asset-light operation be exaggerated.展开更多
Abstract: The aim of this paper is to investigate the relative contribution of technical efficiency, technological change and increased input use to the output growth of the Tunisian citrus growing farms using a stoc...Abstract: The aim of this paper is to investigate the relative contribution of technical efficiency, technological change and increased input use to the output growth of the Tunisian citrus growing farms using a stochastic frontier production function approach applied to panel data for the period 2003-2005. Knowledge of the relative contribution of factors productivity and input use to output growth and improvements in technical efficiency is crucial to provide a comprehensive view of the state of the citrus producing sector in the country and help farm managers and policy makers draw appropriate policy measures. The proposed methodology is based on the use of a flexible translog functional form. Results indicate that technical efficiency of production in citrus producing farms investigated ranges from a minimum of 11.19% to a maximum of 96.82% with an average technical efficiency estimate of 49.97%. This suggests that citrus producers may increase their production by as much as 50.03% through more efficient use of production inputs. Furthermore, the production is characterized by increasing returns to scale, which on average was 1.057. Finally, investigation of the sources of production growth reveals that the contribution of total factor productivity is found to be the main source of that growth.展开更多
For some time, two major kinds of Total Factor Productivity (TFP) have existed independently of each other: the Solow residual and the Malmquist Productivity Index (MPI). The Solow residual was introduced in macr...For some time, two major kinds of Total Factor Productivity (TFP) have existed independently of each other: the Solow residual and the Malmquist Productivity Index (MPI). The Solow residual was introduced in macro economic growth models, and the MPI has been used in micro economics and management studies. As both indices were developed independently, few studies utilize both together and compare the results. This paper uses the same data to compare the two productivity indices by setting to determine the economic implications of combining the two indices. We discovered that we could decompose TFP with each aspect of the Soiow residual and MPI. We could then interpret their relationship in the business cycle. Our results indicated that the frontier shift in MPI of Japanese firms often occurred when the Solow residual increased, meaning that improving oroductivitv with the Solow residual could be generated by a firm that could shift new production frontiers.展开更多
This paper has deduced a non-parameter analysis framework that can estimate the sources of economic growth based on provincial data as samples. Result of the estimate indicates that between 1978 and 2010, TFP, labor a...This paper has deduced a non-parameter analysis framework that can estimate the sources of economic growth based on provincial data as samples. Result of the estimate indicates that between 1978 and 2010, TFP, labor and capital contributed to China's economic growth by 10.9%, 3.7% and 85.4% respectively. If the impact of global financial crisis is not taken into account, these figures should be 20.70/0, 3.3% and 76.0%. Contribution of labor to economic growth is the smallest, below 8%for most of the years. Share of TFP contribution increased before the 1990s despite wild swings, exceeding 50% in 1992, followed by continuous decline until well below 10% after 2005. Share of capital contribution decreased before 1990s with wild swings and maintained an upward trend after 1992, approaching 90% after 2005.展开更多
Using directional distance function and nonparametric data envelopment analys&, th& paper estimates the environmental total factor productivity (ETFP) of energy-intensive industries in China from 1995 to 2010, and...Using directional distance function and nonparametric data envelopment analys&, th& paper estimates the environmental total factor productivity (ETFP) of energy-intensive industries in China from 1995 to 2010, and performs an empirical analysis on factors affecting ETFP growth after studying the differences of energy-intensive industries ' ETFP by industries and provinces. The findings include the following: energy-intensive industries 'ETFP growth is mainly driven by technical progress; China, at its current development stage, still has the potential to raise the productivity of its energy- intensive industries. By estimating the provincial data, we find that the ETFP growth of different provinces converge at different levels. Further market liberalization, increased FDl flows and reductions in energy intensity will help to improve each province's ETFP growth. In addition, increasing investment in energy saving and emissions reduction and improving corporate environmental management capacity can help to reduce a company's short-term cost of complying with environmental regulations.展开更多
There are three different orientations of the macroeconomic policies,namely,factor-expansion,prudent-continuation and structural-adjustment.The paper uses the dynamic CGE model to simulate the effects of the three dif...There are three different orientations of the macroeconomic policies,namely,factor-expansion,prudent-continuation and structural-adjustment.The paper uses the dynamic CGE model to simulate the effects of the three different orientations on the economy,and arrives at the following conclusions:while the factor-expansion policies can lead to growth of economic output,they also result in the further imbalance in the industrial structure and the "crowding-out effect" on the private investment.In addition,such growth is unsustainable in the long run;the growth of the industrial economy will decline rapidly to a lower level after reaching a certain high level.The prudent-continuation policies refer to the continuation of the current policies that sustain the current trends of the industrial economy,and such policies reduce the growth of the industrial economy to a lower level in the long run.The structural-adjustment policies reduce the economic output at the current stage;however,it can bring a gradual improvement of industrial structure and a balance of the supply and demand.In the long run,the optimized structure will improve the total factor productivity(TFP) and the production-possibility frontier,and thereby realize a longterm steady and rapid growth of the industrial economy.Four policy recommendations are proposed based on the simulation of the models,including taking the structural adjustment as the fundamental orientation of macroeconomic policies,lowering the "floor level" of economic growth with macro regulation,giving play to the fundamental role of market mechanism in structural adjustment and increasing the role of TFP in the growth of the industrial economy.展开更多
The driving force for China's industrial growth has shifted from the synergy of efficiency and factor input to the dominance of capital input alone.With the boundary of 2003,the contribution of capital to the grow...The driving force for China's industrial growth has shifted from the synergy of efficiency and factor input to the dominance of capital input alone.With the boundary of 2003,the contribution of capital to the growth of China's industrial economy increased from the annual average of 34.07%to 89.28%while the contribution of TFP dived from the annual average of 47.34%to-4.08%.Meanwhile,TFP growth rates dropped from the annual average of 4.6%to-0.05%and marginal capital output ratio went down from0.61 in 2002 to 0.28 in 2012.This indicates that the investment-driven pattern of China's industrial growth has been confronted with severe inefficiency.Further research suggests that the tendency of worsening industrial growth efficiency already became significant prior to the global financial crisis of 2008 and the eruption of the global financial crisis is not the fundamental reason for the worsening of efficiency and only exacerbated its tendency.The current government-led and investment-driven pattern of industrial growth is the root cause of such efficiency deterioration.Therefore,in order to achieve the transition towards innovation- and efficiency-driven growth pattern,the key is to make an appropriate distinction in the relationship between market and government,i.e.,the government must create a perfect institutional system where the market plays a decisive role and take proactive initiative to promote technology innovation and transfer on the basis of respecting market mechanism and the intent of market entities.展开更多
The impact of social capital on economic development has been broadly studied by scholars. However, research in the Chinese context is relatively rare. Drawing upon data from the China General Social Survey, our resul...The impact of social capital on economic development has been broadly studied by scholars. However, research in the Chinese context is relatively rare. Drawing upon data from the China General Social Survey, our results suggest that the enhancing effect of social capital on total factor productivity is very limited in the case of China. The network dimension of social capital is significant only in pooled OLS estimations, and trust as well as the participation dimension of social capital exert no impact across all estimations. Our interpretation is that this is partly due to the fact that trust, values and norms formed in civil society are inherently difficult to transmit to the market sector. Besides, the impact of social capital on economic performance is undermined when physical capital plays a significant role in production. We therefore propose that the effect of social capital on economic performance is contingent on localized social and economic conditions.展开更多
To investigate the long-term operating efficiencies of container ports, we extend the work of previous researches to present a new systemic and improved method of data envelopment analysis (DEA)-based Malmquist prod...To investigate the long-term operating efficiencies of container ports, we extend the work of previous researches to present a new systemic and improved method of data envelopment analysis (DEA)-based Malmquist productivity index (MPI) in this paper. An approach based on both panel data and multi-inputs/outputs is considered comprehensively, and aims at measuring the operating efficiencies of 10 leading container ports in China from 2001 to 2006 by applying this new systematic influence factor of total factor productivity change is the calculation method. The results illustrate that the main technology change, and the container transportation of these 10 ports is on the healthy development status and will recover and grow reposefully in the following years展开更多
文摘This paper examines the effect of supply-side structural reforms on China's potential economic growth rate in the coming decade according to the data the authors have gathered. Under the rapid growth scenario with the implementation of supply-side structural reforms, China's potential economic growth rate will reach an average of 6.5% and 5.8% respectively in the 13th Five-year Plan (2016-2020) and 14th Five-year Plan (2021-2025) periods. These rates are 0.2 and 0.3 percentage points higher, respectively, than that under the baseline scenario with the inertia of historic trends. In implementing supply-side structural reforms, China must transform governmental functions, break monopolies, create a comprehensive competitive market environment, foster the creation of pro-innovation mechanisms, refocus on quality and efficiency, and raise capital utilization and labor productivity.
文摘Amidst growing environmental protection intensity by the Chinese government, this paper investigates the effects of environmental regulation on China's industrial pollution treatment productivity and environmental TFP. By estimating China's pollution treatment productivity between 2001 and 2008 and analyzing environmental regulation intensity and the effects of the relevant factors and pollution treatment productivity using panel data, this paper discovers that (1) pollution treatment productivity contributed a significant share of about 40% to industrial environmental TFP during the investigation period; (2) environmental regulation may not necessarily cause adverse impacts on pollution treatment efficiency and productivity but demonstrates a U-shaped relationship: when the share of pollution treatment cost in industrial value-added is above the range of 3.8%-5.1%, environmental regulation is likely to promote pollution treatment productivity and thus environmental TFP Judging by the estimation result, enhancing environmental protection and expediting the development of ecological civilization are conducive to China "s economic transition towards an intensive, efficient, circular, and sustainable development pattern. China's current industrial development has the capacity to tolerate a rather demanding level of pollution treatment and management and China needs to further rely on energy conservation and the environmental production industries to promote the progress of pollution treatment technologies.
基金Under the auspices of National Natural Science Foundation of China(No.71172213,71171183)Ministry of Educa-tion,Humanities and Social Sciences Project(No.09YJA630153,10YJA790260)+1 种基金National Social Science Foundation of China(No.08&ZD043)Australian Research Council,and Chinese Academy of Sciences(CAS)Special Grant for Postgraduate Research,Inno-vation and Practice
文摘This paper falls into the broad area of economic geography and economics of creativity,and it presents an alternative approach to explain why total factor productivity(TFP)growth is different across China′s regions.It establishes an empirical model to estimate the spatial agglomeration effects of creative industries on regional TFP growth,using China′s provincial panel data during the period of 2003 to 2010.We found that the creative industries agglomeration(CIA)has significant and positive impact on regional TFP growth.The result also implies that the CIA can facilitate regional TFP growth through promoting regional innovation instead of improving regional efficiency.Therefore,we argue that policy makers should take some measures to retain and establish more creative zones.
文摘Market-oriented economic transition since 1978 has led to remarkable economic development in China. In this study, we use the National Economic Research Institute (NERI) Index of Marketization and a panel data model to investigate the quantitative contributions of marketization to China's total factor productivity (TFP) and economic growth. Our results indicate that marketization contributed 1.45 percentage points on average to China's annual economic growth rate during the period from 1997 to 2007 and accounted for 39.2 percent of the increase in TFP. Marketization significantly improved resource allocation. However, economic transition in China has not yet been completed and sustainability of future growth will depend on further market-oriented reforms.
基金funded by the Knowledge Innovation Project of the Chinese Academy of Sciences (Grant No. KSCX2-YW-NF-01)Spark Program projects (Grant No. 2010GA600017)
文摘Currently, the agricultural growth in developed countries mainly relies on the improvement of productivity, which is also the target for China. Accordingly, the purpose of this study was to describe the spatial-temporal evolution pattern of agricultural productivity, to reveal changes in total factor productivity in 2ooo-2olo, and analyze the impact of these changes in northwestern Sichuan plateau, China. Using data envelopment analysis (DEA) and the Malmquist Index, an in-depth study was conducted on agricultural productivity and changes in total factor productivity of 31 counties in northwestern Sichuan plateau. Results indicated that: (1) geographically, counties with optimal efficiency were mainly located in the north of northwestern Sichuan plateau and those with the lowest efficiency, in the south; (2) relative to pure technical efficiency, scale efficiency was the dominant factor in determining agricultural productivity; (3) the redundancy rate of input factors in zolo was slightly lower than that in zooo, thereby indicating an improved utilization of input factors to a certain extent and a great potential for further improving such utilization; (4) during the 2ooo-2olo period, the agricultural total factor productivity had an average annual growth rate of 8.3%, but the growth rates in various regions differed widely; (5) technical progress was the dominant factor promoting the improvement of total factor oroductivitv inagriculture. The disparities in spatial distribution may be due to the differences of natural conditions, former level agricultural productivity between counties. The findings are valuable for the government to make sustainable development policies for agriculture and improving agricultural development in northwestern Sichuan plateau.
基金Under the auspices of the post-funded project of National Social Science Foundation of China(No.16FJL009)
文摘We use the directional slacks-based measure of efficiency and inverse distance weighting method to analyze the spatial pattern evolution of the industrial green total factor productivity of 108 cities in the Yangtze River Economic Belt in 2003–2013.Results show that both the subprime mortgage crisis and ‘the new normal' had significant negative effects on productivity growth,leading to the different spatial patterns between 2003–2008 and 2009–2013.Before 2008,green poles had gathered around some capital cities and formed a tripartite pattern,which was a typical core-periphery pattern.Due to a combination of the polarization and the diffusion effects,capital cities became the growth poles and ‘core' regions,while surrounding areas became the ‘periphery'.This was mainly caused by the innate advantage of capital cities and ‘the rise of central China' strategy.After 2008,the tripartite pattern changed to a multi-poles pattern where green poles continuously and densely spread in the midstream and downstream areas.This is due to the regional difference in the leading effect of green poles.The leading effect of green poles in midstream and downstream areas has changed from polarization to diffusion,while the polarization effect still leads in the upstream area.
文摘The present economical conditions on today's world require specific point of view and policy making in business agencies. In this competitive world to achieve competence, competitive advantages in order to better governance, organizations have to increase their competitive powers through promotion and productivity. One of the fundamental approaches to elevate the productivity level is finding the complications and obstacles, and arise planning to remove them. In order to understand organizational complication, we have tried to take critical factors of success and continue improvement into consideration to demonstrate a model to find the main and radical problems and complications and recognize the recoverable areas in the business agencies. In order to verify and validate the performed research, he planned model has been accomplished in the Hydropower Plant Department, positive and acceptable results were obtained and organizations total factor productivity improvement was achieved which was appreciated by the organization.
文摘This paper studies the total factor productivity (TFP) of banks in Malaysia with the emphasis on comparing the relative productivities of Islamic and Conventional banks. The Malmquist index approach is used to decompose productivity growth into technical efficiency and technological change. The productivity growth is measured and decomposed into technical change and efficiency change. The efficiency change is further decomposed into pure efficiency change and scale efficiency. It is found that Islamic banks' productivity growth is limited by its lack of technological change compared to its conventional counterparts. Nonetheless, both types of banks are operating at the correct level in terms of scale or size.
文摘Based on extensive micro data sets, this paper examines the relationship among large-scale entry and exit, competition and total factor productivity (TFP) growth of China's industry during economic transition and market opening. We have arrived at these findings: market opening spurs entry and exit of large numbers of non-state-owned enterprises (non-SOEs) and facilitates dynamic competition; through the stimulation effect of competition, entry and exit push TFP growth on the part of enterprises; through the resource reallocation effect, entry and exit promote growth of the aggregate TFP. However, results indicate that the resource allocation efficiency remains very low in capital-intensive industries where the government intervenes a lot. To conclude, promoting open competition is significant to the growth of industrial sectors 'productivity.
文摘That SOEs are inefficient is still a consensus in most economic literature. However, in recent studies, more and more arguments are made in favor of the efficiency of SOEs, yet existing empirical studies are mostly based on production industry data as samples. On the basis of adopting distribution samples and conducting a cross-sector comparison between the production industry and the distribution sector, this paper offers a multi-perspective empirical assessment on the efficiency of SOEs. Through the analysis of major JTnancial indicators and adopting the Data Envelopment Analysis-Malmquist index for total factor productivity comparison, we find that SOEs generally do not have any disadvantage in efficiency and their superior efficiency is particularly pronounced in the distribution sector as compared with production industry. Moreover, the high share and high efficiency of state capital in the wholesale sector needs particular attention. This paper employs case studies to reveal the positive correlation between the assets-heavy operation of state-owned wholesale firms and their profitability. The implications are as follows: policymakers must deliberate prudently before deciding to withdraw or increase state capital in various sectors; in the wholesale sector where state capital is more efficient, the functions of state capital can be bolstered by increasing its presence in the sector," the notion that state capital must be withdrawn from competitive sectors cannot be adopted likely, nor should the benefits of asset-light operation be exaggerated.
文摘Abstract: The aim of this paper is to investigate the relative contribution of technical efficiency, technological change and increased input use to the output growth of the Tunisian citrus growing farms using a stochastic frontier production function approach applied to panel data for the period 2003-2005. Knowledge of the relative contribution of factors productivity and input use to output growth and improvements in technical efficiency is crucial to provide a comprehensive view of the state of the citrus producing sector in the country and help farm managers and policy makers draw appropriate policy measures. The proposed methodology is based on the use of a flexible translog functional form. Results indicate that technical efficiency of production in citrus producing farms investigated ranges from a minimum of 11.19% to a maximum of 96.82% with an average technical efficiency estimate of 49.97%. This suggests that citrus producers may increase their production by as much as 50.03% through more efficient use of production inputs. Furthermore, the production is characterized by increasing returns to scale, which on average was 1.057. Finally, investigation of the sources of production growth reveals that the contribution of total factor productivity is found to be the main source of that growth.
文摘For some time, two major kinds of Total Factor Productivity (TFP) have existed independently of each other: the Solow residual and the Malmquist Productivity Index (MPI). The Solow residual was introduced in macro economic growth models, and the MPI has been used in micro economics and management studies. As both indices were developed independently, few studies utilize both together and compare the results. This paper uses the same data to compare the two productivity indices by setting to determine the economic implications of combining the two indices. We discovered that we could decompose TFP with each aspect of the Soiow residual and MPI. We could then interpret their relationship in the business cycle. Our results indicated that the frontier shift in MPI of Japanese firms often occurred when the Solow residual increased, meaning that improving oroductivitv with the Solow residual could be generated by a firm that could shift new production frontiers.
文摘This paper has deduced a non-parameter analysis framework that can estimate the sources of economic growth based on provincial data as samples. Result of the estimate indicates that between 1978 and 2010, TFP, labor and capital contributed to China's economic growth by 10.9%, 3.7% and 85.4% respectively. If the impact of global financial crisis is not taken into account, these figures should be 20.70/0, 3.3% and 76.0%. Contribution of labor to economic growth is the smallest, below 8%for most of the years. Share of TFP contribution increased before the 1990s despite wild swings, exceeding 50% in 1992, followed by continuous decline until well below 10% after 2005. Share of capital contribution decreased before 1990s with wild swings and maintained an upward trend after 1992, approaching 90% after 2005.
文摘Using directional distance function and nonparametric data envelopment analys&, th& paper estimates the environmental total factor productivity (ETFP) of energy-intensive industries in China from 1995 to 2010, and performs an empirical analysis on factors affecting ETFP growth after studying the differences of energy-intensive industries ' ETFP by industries and provinces. The findings include the following: energy-intensive industries 'ETFP growth is mainly driven by technical progress; China, at its current development stage, still has the potential to raise the productivity of its energy- intensive industries. By estimating the provincial data, we find that the ETFP growth of different provinces converge at different levels. Further market liberalization, increased FDl flows and reductions in energy intensity will help to improve each province's ETFP growth. In addition, increasing investment in energy saving and emissions reduction and improving corporate environmental management capacity can help to reduce a company's short-term cost of complying with environmental regulations.
文摘There are three different orientations of the macroeconomic policies,namely,factor-expansion,prudent-continuation and structural-adjustment.The paper uses the dynamic CGE model to simulate the effects of the three different orientations on the economy,and arrives at the following conclusions:while the factor-expansion policies can lead to growth of economic output,they also result in the further imbalance in the industrial structure and the "crowding-out effect" on the private investment.In addition,such growth is unsustainable in the long run;the growth of the industrial economy will decline rapidly to a lower level after reaching a certain high level.The prudent-continuation policies refer to the continuation of the current policies that sustain the current trends of the industrial economy,and such policies reduce the growth of the industrial economy to a lower level in the long run.The structural-adjustment policies reduce the economic output at the current stage;however,it can bring a gradual improvement of industrial structure and a balance of the supply and demand.In the long run,the optimized structure will improve the total factor productivity(TFP) and the production-possibility frontier,and thereby realize a longterm steady and rapid growth of the industrial economy.Four policy recommendations are proposed based on the simulation of the models,including taking the structural adjustment as the fundamental orientation of macroeconomic policies,lowering the "floor level" of economic growth with macro regulation,giving play to the fundamental role of market mechanism in structural adjustment and increasing the role of TFP in the growth of the industrial economy.
文摘The driving force for China's industrial growth has shifted from the synergy of efficiency and factor input to the dominance of capital input alone.With the boundary of 2003,the contribution of capital to the growth of China's industrial economy increased from the annual average of 34.07%to 89.28%while the contribution of TFP dived from the annual average of 47.34%to-4.08%.Meanwhile,TFP growth rates dropped from the annual average of 4.6%to-0.05%and marginal capital output ratio went down from0.61 in 2002 to 0.28 in 2012.This indicates that the investment-driven pattern of China's industrial growth has been confronted with severe inefficiency.Further research suggests that the tendency of worsening industrial growth efficiency already became significant prior to the global financial crisis of 2008 and the eruption of the global financial crisis is not the fundamental reason for the worsening of efficiency and only exacerbated its tendency.The current government-led and investment-driven pattern of industrial growth is the root cause of such efficiency deterioration.Therefore,in order to achieve the transition towards innovation- and efficiency-driven growth pattern,the key is to make an appropriate distinction in the relationship between market and government,i.e.,the government must create a perfect institutional system where the market plays a decisive role and take proactive initiative to promote technology innovation and transfer on the basis of respecting market mechanism and the intent of market entities.
文摘The impact of social capital on economic development has been broadly studied by scholars. However, research in the Chinese context is relatively rare. Drawing upon data from the China General Social Survey, our results suggest that the enhancing effect of social capital on total factor productivity is very limited in the case of China. The network dimension of social capital is significant only in pooled OLS estimations, and trust as well as the participation dimension of social capital exert no impact across all estimations. Our interpretation is that this is partly due to the fact that trust, values and norms formed in civil society are inherently difficult to transmit to the market sector. Besides, the impact of social capital on economic performance is undermined when physical capital plays a significant role in production. We therefore propose that the effect of social capital on economic performance is contingent on localized social and economic conditions.
基金the National Natural Science Foundation of China (No. 50578030)
文摘To investigate the long-term operating efficiencies of container ports, we extend the work of previous researches to present a new systemic and improved method of data envelopment analysis (DEA)-based Malmquist productivity index (MPI) in this paper. An approach based on both panel data and multi-inputs/outputs is considered comprehensively, and aims at measuring the operating efficiencies of 10 leading container ports in China from 2001 to 2006 by applying this new systematic influence factor of total factor productivity change is the calculation method. The results illustrate that the main technology change, and the container transportation of these 10 ports is on the healthy development status and will recover and grow reposefully in the following years