The Research On Our Country's Capital Stock

The data of the capital stock is a crucial factor in the policy study of the macroeconomicrunning. The capital stock's calculating is very complicated. There are many questions in bothsides of theory and technique. The capital theory is one of the most controversial fields in theeconomics research all the time. The argument about the measurability of capital was a focus inthe famous controversy between two Cambridge in 1950s-1960s. Though the calculating ofcapital stock is very difficult, due to its important effect in economics research, many economistshave applied themselves to develop the theory since 1950s. In 1951, Raymond W. Goldsmith introduced the perpetual inventory approach whichinaugurated a wide prospect in this field. Since then, the approach was used and expanded byEdward F. Denison, Dale W. Jorgenson and others. In America and other OECD countries, thisapproach was used widely and accumulated plentiful experience. The capital statistical work is very weak in China. There are wide gaps in data and theacquirability of data is a serious handicap in the capital stock's calculating. In economic study, theproper calculating of the capital stock is a difficult problem that researchers have to be faced to inour country. Because really needing the data, many scholars calculated the capital stock of Chinawith different aims of themselves. These studies used different supposes and methods, so thecalculating outcome of capital stock is very different. we will arrange and assimilate the theory and methods of the calculating, then review andanatomize the existing study about the calculating to capital stock of China. Toward the blur andscarcity in the study of capital stock of China, we try to amend it and introduce our calculatingmethod. In the end, we apply our method to calculate the capital stock of China. The paper consists of five chapters. In the first chapter, we will discuss the relation of the capital input and the capital stock,review the study of the capital stock's calculating, and introduce the representative pursuers andtheir studies. Through comparing the capital stock's accounting in MPS and SNA, we indicatethat a more effective method is necessary for capital stock calculating. In the second chapter, we will introduce the primary theory and technical operation of theclassical perpetual inventory approach. Then we will introduce emphatically the argument aboutthe selection of the mode of relative efficiency sequence. In the third chapter, we will review the existing study of calculating to capital stock of China.First, we will take apart the representative study in detail. Then, aim at the operating method ofseveral important process in it, we will compare and put forward comment. In the fourth chapter, we will analysis the restricts we faced and method choosing gist, thenintroduce four schemes and choose our calculating method through comparing. In the fifth chapter, after handling the available statistical data, we calculate capital stock ofChina with the method we selected and compare our calculating outcome with others.