2017 Fiscal Year Research-status Report
China's State Capitalism and Its Implications for Growth and Productivity
| Project/Area Number |
17K03678
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| Research Institution | Hitotsubashi University |
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Principal Investigator |
ウー ハリー・シァオイン 一橋大学, 経済研究所, 特任教授 (90571464)
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| Project Period (FY) |
2017-04-01 – 2020-03-31
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| Keywords | China model of growth / State capitalism / Underpaid factor costs / Resource misallocation / Regional TFP growth / Regional IO accounts / Regional capital stock |
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| Outline of Annual Research Achievements |
Research in 2017FY well followed the research plan: 1) conducting theoretical modeling to explain the state capitalism; 2) constructing regional IOTs; 3) establishing regional capital input accounts. The followings were achieved:
1)The preliminary version of a joint paper on state capitalism with Steven Lim (Waikato University, New Zealand) was drafted, entitled “State capitalism with Chinese characteristics - towards a theoretical explanation of the China model of growth”
2)Chinese regional input-output accounts based on regional IO tables and regional income accounts for 30 provinces and over the period 1992-2014 were constructed, jointly with my PhD student Zhan Li (Hitotsubashi University)
3)Chinese regional capital stock with the same coverage and for the same period was also constructed, jointly with my PhD student Zhan Li (Hitotsubashi University)
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| Current Status of Research Progress |
Current Status of Research Progress
3: Progress in research has been slightly delayed.
Reason
It was slightly delayed due to both problems in Chinese official statistics and the complexity of the Chinese economy. Also, I had to cancel a research meeting in London in March 2018 on China data and measurement issues due to academic strike.
Datawise, Chinese regional IO tables and income accounts are difficult to be reconciled with the national ones. Thus, more time is required to find solutions to the problems. Regarding theoretical exploration, the Chinese economy is not yet under a typical market system, and state interventions at both the national and regional levels are rather common. This creates distortions that cannot be easily handled by the standard theories and hence requires developing new approaches to the problem.
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| Strategy for Future Research Activity |
I am not going to change the research plan and methodology for FY2018, which includes the following tasks:
1)Regional labor input accounts: a) Construct regional employment matrices using available population, industry and economy-wide census data on human capital attributes of employment; b) construct matching regional labor compensation matrices using available IOT income accounts and China Household Income Project (CHIP) data. Difficulties and alternatives: Limited industry level information may force us to reduce the number of industries for consistency.
2)Estimate the share of state-ownership: Following useful documentation such as Naughton (2015) and using annual publications of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), estimate the share of the state ownership of all established dimensions that are controlled by already established, cross-classified national, regional and industrial totals. Difficulties and alternatives: We will focus on benchmarks rather time series if data problems arise.
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| Causes of Carryover |
I planned to use this amount of money to support my work with Professor Carlo Milana, University of London, on Chinese data problems related to my kakan project. That work was planned right after my visit to Prof. Milana in another project (IER joint project), as an extension of stay in London. However, my London trip was canceled due to academic strike, thus, this plan had to be postponed.
My plan to use this money in 2018FY to visit Prof. Milana for the same data problem. If he is not available, I will use it in a research/data trip to China.
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Research Products
(6 results)
