A Research on the Characters and Efficiency of Chinese National Income Growth under Open Circumstances
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| Title | A Research on the Characters and Efficiency of Chinese National Income Growth under Open Circumstances
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| Author | Fan Zhiyong and Mao Xuefeng |
| Organization | School of Economics, Renmin University of China,School of Agricultural Economics and Rural Development, Renmin University of China |
| Email | fanzhiyong@ruc.edu.cn,maomch@126.com |
| Key Words | National Income; Translog Production Function; Terms of Trade; TFP |
| Abstract | This paper undertakes growth accounting of China from 1981-2010 based on index number theory and parametric estimation approaches under open circumstances. The results indicate that although China has enjoyed remarkably high income growth, TFP has been slowing down and the growth in income depends heavily on capital accumulation in recent years. The deteriorating terms of trade has been playing a significant negative role in income growth. This paper also studies the impact of TFP and the changes in both domestic absorb goods prices and the terms of trade on sector output and factor income in China. |
| Serial Number | WP412 |
| Time | 2013-02-21 |
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