Measurement And Influencing Factors Research Of Total Factor Productivity Of Equipment Manufacturing Industry In China

Relying on investment and factor input to stimulate economic growth is China's long-term development model.With the emergence of the new economic normal,China's economy began to replace high-speed growth with medium and high-speed growth.In this process,rising labor costs and increased environmental pollution make it difficult to sustain economic growth by relying on large-scale factor inputs and investments.Therefore,in order to ensure the continued steady development of the economy,we should strengthen technological innovation,enhance total factor productivity,and coordinate the healthy development of environment and productivity.Based on the panel data of the seven sub-sectors of China's equipment manufacturing industry from 2003 to 2015,this paper studies the impact of equipment manufacturing environmental regulation,R&D investment,ownership structure and industry scale on total factor productivity growth.Firstly,this paper reviews the equipment manufacturing industry and total factor productivity,and analyzes the research status of equipment manufacturing industry and the measurement methods of total factor productivity and the influencing factors.Secondly,the changes of total factor productivity,technological progress and technical efficiency of the seven sub-sectors of China's equipment manufacturing industry were measured.It was found that except for the total factor productivity of instrumentation,culture and office machinery manufacturing in China,the rest of the industry was not improved.The level of total factor productivity has increased.The three industries with the fastest growth are metal products,transportation equipment manufacturing and special equipment manufacturing,and technological progress is the main driving force for TFP growth compared with technical efficiency.The essential.Thirdly,based on the comparative analysis of linear and nonlinear models corresponding to different theories,it is found that the influence of environmental regulation on the total factor productivity is not simply the promotion or inhibition,but the total factor productivity of equipment manufacturing.The change presents an"inverted N-type”relationship.That is to say,only when the environmental regulation is within a reasonable range can the promotion of the total factor productivity of the industry be promoted;the R&D investment plays a significant role in promoting the total factor productivity,but the equipment manufacturing industry still has insufficient R&D investment and innovation results.The problem needs to increase the R&D investment while paying attention to the introduction of technology to absorb and absorb;the expansion of the equipment manufacturing industry scale can promote the growth of the industry's total factor productivity,that is,China's equipment manufacturing industry as a whole is still in the stage of scale economy development;ownership reform the improvement of total factor productivity has a significant role in promoting.Finally,this paper combines the results of empirical analysis to propose policy recommendations on how to improve the overall factor production efficiency of China's equipment manufacturing industry.Compared with previous studies,the impact of influencing factors on the total amount of economic growth is different.This paper selects total factor productivity as the research object,and further decomposes it into technological progress and technical efficiency.When examining the factors affecting total factor productivity,it also examines the factors.The influence mechanism of total factor productivity is further studied by constructing linear and nonlinear models to investigate the specific influence direction and influence path of influencing factors on total factor productivity.Through the research of this paper,it is beneficial to grasp the impact of technological innovation,environmental regulation,ownership structure and scale effect on the total factor productivity of China's equipment manufacturing industry as a whole,and it has certain reference value for formulating corresponding economic development strategy.