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Total Factor Productivity Research Of Guangdong Economic Growth

Posted on:2012-11-07Degree:MasterType:Thesis
Country:ChinaCandidate:Z X LiangFull Text:PDF
GTID:2189330338990598Subject:National Economics
Abstract/Summary:PDF Full Text Request
There are two ways to realize the expansion of the production capacity and actual production increase. One is by expanding the production elements of the inputs; the other is by raising the efficiency of production factors. The former are called extensive development. The latter are called intensive development. Total factor productivity is the index to measure the latter. It refers to all other factors of production brought about by the output growth without labor and capital outside the two major substance elements. Its sources include technology progress, human capital accumulation, the change of industrial structure, institutional innovation and etc.At present, there mainly are three types of growth model: exogenous growth models, AK type endogenous growth model and R&D growth model. By the empirical analysis of 1978-2009 economic statistical data of Guangdong province, this paper affirms that the feature of Guangdong's economic growth meets the AK type endogenous growth model. On the base of AK type endogenous growth model, this paper uses three methods to measure the total factor productivity of Guangdong economic growth in 30 years. Although the results of different methods are differently, they have the same trend. Then, this paper launches regression analysis to total factor productivity. The results showed that the change of industrial structure, foreign direct investment, privatization and energy consumption are the most significant influence on Guangdong's total factor productivity during 1978-2009.In general, since the reform and opening-up, the economic growth of Guangdong mainly depended on the expansion of production factors inputs, total factor productivity. Total factor productivity had little effect on it. Economic development existed obvious characteristics of extensive development. Along with the exhaustion of economic development power, Guangdong would have to face the dilemma of economic transformation. Because of the excessive surplus agricultural labor, maintaining the existence development would face the comparative advantage trap, while economic transformation might fall into the traps of immiserizing growth. The population pressure would gradually transform into the hindering factors of Guangdong's total factor productivity, and extensive development would continue. On this basis, this paper will return to the results of the analysis and the empirical fact to explain Guangdong economic growth, discussed the existing problems, and puts forward relevant Suggestions.
Keywords/Search Tags:Economic Growth, Total Factor Productivity, Comparative Advantage Trap, Trap of Immiserizing Growth
PDF Full Text Request
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