Research On The Contribution Of Management Factors To Economic Growth

Ever since the birth of mankind, the activities which human beings created value, wealth and the pursuit of economic growth have never stopped. It is also most important cornerstone of social development and human well-being. How to promote the sustained and rapid economic growth has always been the oldest and the eternal proposition in the Economics research.Based upon a comprehensive study about theories and models of economic growth since more than 200 years, this paper proposed a three-sector economic production system structure and a gross economic growth model which all contained management factors beginning with the introduction of the concept of management factor. Then, the paper translated the model into a suitable econometric model for the empirical study. In the process of comparison and analysis among in five human capital calculation methods, the paper improved the Education Funding Method to calculate the incremental and stock of human capital indicator. Inspired by Solow 1959 way of thinkings, this paper calculated technological progress parameter and obtained the contribution of technology capital to economic growth with the use of "technological progress embodied in capital". For the contribution of management factors to economic growth, the paper distinguished the contribution value and contribution, and elaborated the direct-indirect methods of calculation and the two-type contributions of the overall average and various periods according the characteristics of time series data. In other areas, this paper also developed a series of new viewpoints and methods.Finally, with investigation in Anhui Province's economic growth from 1978 to 2006, papers calculated the contribution of material capital, technology capital, and human capital, management factors to economic growth. With a detailed analysis of the practical significance of the calculation results, the paper has drawn some significative important conclusions. By consideration of the status that management has become a bottleneck constraining economic growth of Anhui Province for the lately 10 years, this paper proposes a number of measures and proposals to simple forecasts and prospects.