Please wait a minute...
Frontiers of Economics in China

ISSN 1673-3444

ISSN 1673-3568(Online)

CN 11-5744/F

Postal Subscription Code 80-978

Front Econ Chin    2011, Vol. 6 Issue (2) : 229-248    https://doi.org/10.1007/s11459-011-0130-8
research-article
Factor Function Characteristics and Origin of Economic Growth of China
Zhiqing Dong1(), Linhui Wang2(), Jia Sun3()
1. Center for Quantitative Economics, Jilin University, Changchun 130012, China; 2. School of Economics, Northeast Normal University, Changchun 130117, China; 3. Economic Department, Changchun Taxation College, Changchun 130117, China
 Download: PDF(1339 KB)   HTML
 Export: BibTeX | EndNote | Reference Manager | ProCite | RefWorks
Abstract

The paper makes an empirical study on factor contribution and its stage variation characteristics during 1952–2005 and 1978–2005 in China. GMM and OLS tests show that the robustness and significance level of the institution, the physical capital and human capital’s contributions are much higher than other factors, and 70% of economic growth is boosted by the capital and the labor input. Factor contribution decomposition and TFP growth indicate trade has the most remarkable influence on economic growth. The state space model finds that physical capital, human capital, technological progress, finance, trade and institution have different effects on economic growth in different periods. Namely, factor contribution does have the characteristics of stage variation.

Keywords factor contribution      economic growth      comparative empirical study     
Corresponding Author(s): Zhiqing Dong,Email:dongzq@jlu.edu.cn; Linhui Wang,Email:linhuiwang73@sina.com; Jia Sun,Email:sunjiamakesit@hotmail.com   
Issue Date: 05 June 2011
 Cite this article:   
Linhui Wang,Jia Sun,Zhiqing Dong. Factor Function Characteristics and Origin of Economic Growth of China[J]. Front Econ Chin, 2011, 6(2): 229-248.
 URL:  
https://academic.hep.com.cn/fec/EN/10.1007/s11459-011-0130-8
https://academic.hep.com.cn/fec/EN/Y2011/V6/I2/229
[1] Zhaomin Zhang. Inter-Region Transportation Costs, Regional Economic Growth, and Disparities in China[J]. Front. Econ. China, 2020, 15(2): 282-311.
[2] Jun Zhang. Five Basic Insights into the Economic Impact of the COVID-19 Outbreak[J]. Front. Econ. China, 2020, 15(2): 167-178.
[3] Xianchun Xu. The Slowdown of China’s Economic Growth in Terms of Statistics[J]. Front. Econ. China, 2019, 14(1): 72-79.
[4] Justin Yifu Lin. China’s Growth Deceleration: Causes and Future Growth Prospect[J]. Front. Econ. China, 2019, 14(1): 26-52.
[5] Guoqiang Tian. Deceleration of China’s Economic Growth: Causes and Countermeasures[J]. Front. Econ. China, 2019, 14(1): 3-25.
[6] Jiwei Lou. The Possibility and Approaches to an Upper Middle Growth Rate[J]. Front. Econ. China, 2016, 11(2): 196-209.
[7] Robert Barro. China’s Growth Prospects[J]. Front. Econ. China, 2016, 11(2): 192-195.
[8] Pak Hung Mo. Democracy and Economic Growth: Optimal Level and Transmission Channels[J]. Front. Econ. China, 2015, 10(1): 85-112.
[9] Derong Zhang. The Mechanism of the Middle Income Trap and the Potential Factors Influencing China’s Economic Growth[J]. Front. Econ. China, 2014, 9(3): 499-528.
[10] Ding Lu. How Green is China’s Path of Catching Up? An International Comparative Evaluation[J]. Front. Econ. China, 2014, 9(3): 484-498.
[11] Yanrui Wu. Productivity, Economic Growth and the Middle Income Trap: Implications for China[J]. Front. Econ. China, 2014, 9(3): 460-483.
[12] Zhuoshun Xu, Leshun Xu. The Potential Impact of Sino-Korean Bilateral Trade on Economic Growth and the Environment: A CGE Model Analysis[J]. Front Econ Chin, 2012, 7(4): 560-579.
[13] Hongchun Zhao. An Accounting Method for Economic Growth[J]. Front Econ Chin, 2012, 7(1): 44-69.
[14] Ding Lu. Transition of China’s Growth Pattern[J]. Front Econ Chin, 2011, 6(4): 535-555.
[15] Wenpu Li, Min Gong. China’s Growth Model and Structural Unbalance in the Open Economy[J]. Front Econ Chin, 2011, 6(2): 327-344.
Viewed
Full text


Abstract

Cited

  Shared   
  Discussed