Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/96418
Authors: 
Zhu, Yanyuan
Feng, Xiao
Year of Publication: 
2014
Series/Report no.: 
Volkswirtschaftliche Diskussionsbeiträge, Universität der Bundeswehr München, Fachgruppe für Volkswirtschaftslehre 2014,2
Abstract: 
We build China's national production function based on national accounting data since 1997, when China primarily transformed from the Planned economy to Market. By proxying and measuring stocks of human capital(HC), physical capital and the efficiency units, as well as government expenditure reflecting total factor productivity(TFP), we analyze CES production functions' explanation effects by numerical simulation, and then according to the findings, choose Cobb-Douglas form for further research. Our results include, first, Cobb-Douglas production function in the form of capital coefficients - capital relative density, appropriately reflects Chinaâs recent input-output relationship. Second, taking factor-augmenting technical progress into consideration, the proxy settings for two capitals are empirically plausible for future research on Chinaâs endogenous growth model. Third, expansionary government expenditure negatively affects Chinaâs TFP and output.
Subjects: 
national production function
factor-augmenting technical progress
physical capital efficiency units
JEL: 
C52
E01
O47
O53
Document Type: 
Working Paper

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