Factor Costs, Structural Distortions and Productivity Performance of the Chinese Economy
| Project/Area Number |
24330076
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Partial Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Applied economics
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| Research Institution | Hitotsubashi University |
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Principal Investigator |
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| Research Collaborator |
MILANA Carlo University of London, Birkbeck College, Professor of Management
VRIES Gaaitzen De University of Groningen, Groningen Growth and Development Center, Assistant Professor
LIM Steven University of Waikato, Waikato Management School, Senior Lecturer of Economics
SHIU Alice Hong Kong Polytechnic University, School of Accounting and Finance, Assistant Professor of Economics
TIMMER Marcel University of Groningen, Faculty of Economics and Business, Professor of Economic growth and development
JORGENSON D.W. Harvard University, The Samuel W. Morris University Professor
ARK Bart Van The Conference Board, Chief Economist and Vice President
XU Xianchun National Bureau of Statistics of China, Deputy Director
LI Shi Beijing Normal University, The School of Economics and Business, Professor of Economics
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| Project Period (FY) |
2012-04-01 – 2015-03-31
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| Project Status |
Completed (Fiscal Year 2014)
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| Budget Amount *help |
¥8,710,000 (Direct Cost: ¥6,700,000、Indirect Cost: ¥2,010,000)
Fiscal Year 2014: ¥2,600,000 (Direct Cost: ¥2,000,000、Indirect Cost: ¥600,000)
Fiscal Year 2013: ¥2,730,000 (Direct Cost: ¥2,100,000、Indirect Cost: ¥630,000)
Fiscal Year 2012: ¥3,380,000 (Direct Cost: ¥2,600,000、Indirect Cost: ¥780,000)
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| Keywords | Input-Output accounts / factor cost / productivity growth / resource allocation / structural change / government intervention / Chinese economy / China / National Accounts / income accounts / factor input / growth accounting / technical progress / technical efficiency / structural distortion / Factor cost / Efficiency / Resource allocation / the Role of the State / Productivity / 要素コスト / 効率性 / 資源配分 / 国家の役割 / 生産性 |
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| Outline of Final Research Achievements |
This research project was motivated by China's structural distortions and their productivity implications. We argue that structural distortions are caused by the misallocation of resources due to government interventions and institutional deficiencies which have significant bearing on industry-level productivity performance. A sensible investigation in the problem requires a proper measure of factor costs and based on which, an economy-wide industry-level productivity analysis. We show that China's productivity only grew by 0.8% per year, much slower than its East Asian counterparts at the same development stage. Industries less prone to government intervention, e.g. “semi-finished & finished” manufacturing industries, appear to have a faster productivity growth than those subject to more government interventions. We also show that while the reallocation of labor made a positive contribution to aggregate productivity growth, the reallocation of capital indeed played a negative role.
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Report
(4 results)
Research Products
(30 results)
