| The study of economic growth has always been an important part of theoretical economics.After the Sino-Japanese War of 1894-1895,there was a trend of setting up factories in China.Since then,the investment and development of China's modern industry has officially started.With the outbreak of the all-round war of aggression against China in 1937,the relatively stable 40 years in modern Chinese history came to an end.Therefore,this paper selects the period from 1895 to 1936 when China's economy developed well to analyze the factors of China's economic growth.This paper follows the method of "Presupposition-Logical Reasoning-Empirical Test".Firstly,based on Cobb-Douglas Production Function,this paper analyzes the factors of economic growth in modern China from three aspects: efficiency parameter,capital and labor.Secondly,we use the relevant data of modern China to test the results of logical analysis.In modern China,the main problem of economic growth is on the supply side,and the shortage of supply is mainly on the level of capital.But different from the growth theory of neoclassical economics,the shortage of capital in modern China involves not only capital fund but also capital goods.Therefore,this paper focuses on the capital perspective,respectively,to explore the main factors affecting capital fund and capital goods in modern China.Based on the analysis of the factors influencing the economic growth of modern China,this paper holds that the Chinese economy from 1895 to 1936 was affected by the simultaneous effects of efficiency parameters,capital and labor.Among them,the efficiency parameter is mainly affected by the degree of monetization,capital formation and education level;the capital fund in capital is mainly affected by financial revenue,overseas Chinese remittance,export,inflow of silver and the number of bankers;the main source of capital goods is import,and the exchange rate,foreign investment in China and savings are important factors of import. |
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