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Title:Net capital stock and capital productivity for China and regions: 1960 - 2005. An optimal consistency method PDF Logo
Authors:Albala-Bertrand, Jose Miguel
Feng, Hao
Issue Date:2007
Series/Report no.:Working Paper, Department of Economics, Queen Mary, University of London 610
Abstract:This analysis is based on the optimal consistency method (OCM) proposed by Albala-Bertrand (2003), which enables to estimate a capital stock for a benchmark year. This method, in contrast to most current approaches, pays due regards both to potential output and to the productivity of capital. From an initial OCM benchmark estimate, we produce series for the net capital stock, via a perpetual inventory method (PIM), for all China and some useful regional disaggregations over the 45-year period 1960-2005. As a by-product, we also make available the optimal productivities of incremental or marginal capital, corresponding to the net accumulated GFCF over 5-year sub-periods from 1960 onwards. We then attempt some structural analysis, showing that the quantity of resources rather than their quality appears to be largely behind growth rates, especially since the 1990s.
Subjects:China
Benchmark capital
Perpetual Inventory Method (PIM)
Potential output
Capital productivity
Optimal Consistency Method (OCM)
Structural analysis
JEL:O4
B4
E2
Document Type:Working Paper
Appears in Collections:Working Paper Series, School of Economics and Finance, Queen Mary, University of London

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