The Accounting And Application Of NET Capital Stock In China’s Industry

In the process of social and economic development,the accounting of capital stock has always been a hot issue for scholars at home and abroad.As the leading industry of the national economy,industry is an important role for China’s rapid economic growth.It is particularly important to strengthen the research on the net capital stock in the industrial sector.This paper mainly studies the accounting of the net capital of net capital in China’s industrial industry,and applies the results to the analysis of total factor productivity.On the basis of combing the current research situation of capital stock accounting at home and abroad,using the accounting theory of net capital stock,the hyperbolic efficiency diminishing model is used to simulate the average age-price curve of three types of capital goods of construction,equipment and other expenses.Secondly,with 1990 as the constant price,the average age-price curve is used to estimate the net capital stock of 38 industrial sectors in China from 1978 to 2017.Finally,using the estimated results of the industrial net capital stock,the DEA-Malmquist index method was used to measure and analyze total factor productivity.The study found that the average age-price curve of the three types of capital goods is a smooth "L"-shaped curve convex toward the origin,which shows a trailing state and gradually approaches zero when it reaches its average service life.The calculation results of the net capital stock of the industrial sector show that there is a certain difference in the net capital stock of the industry.In general,the net growth of China’s industrial capital stocks is the most significant between 2000 and 2010,and has slowed down since 2011.The industry has experienced negative growth in recent years,and the results of the capital stock estimation in this paper are relatively small compared with the relevant literature.The measurement results of total factor productivity show that since the reform and opening up,China’s industrial total factor productivity has mainly come from technological progress,and technological efficiency has a drag on total factor productivity.Total factor productivity has different characteristics of change at different stages of development.Since 2010,although technical efficiency has been ineffective,the increase in technical efficiency has begun to increase year by year,which in turn has led to a certain increase in the efficiency of total factor production.