Analysis Of Factors Affecting Total Factor Productivity Of Producer Services In China

Since 2014,the growth rate of China's GDP has slowed down,and economic development has begun to be in a new normal stage.The era of large-scale investment in factors of production,such as labor capital and a large amount of resource capital,to promote economic growth has ended.In the past,extensive high-speed economic growth has made great achievements in our country.At the same time,in recent years,it has also exposed various problems.The high aging problem has also resulted in the shortage of population and social security resources,the waste of resources,environmental pollution and other issues are increasingly prominent.These problems seriously restrict the economic development.In November 2015,the Central Economic Work Conference proposed that the fundamental purpose of paying attention to supply-side structural reform is to improve total factor productivity,enhance the total factor productivity of the whole industry in China,and realize sustainable development is the top priority of China's development.We know that the low added value of the primary industry does not make a prominent contribution to economic growth.The secondary industry is facing the current development situation of saturation,which requires deleveraging and inventory removal.The focus of promoting China's economic growth should be on the tertiary industry service industry,especially the producer service industry.The rapid development of producer services not only promotes the development efficiency of other industries,but also enables the industrial structure to be upgraded rapidly,and ultimately the total factor productivity of the whole industry to be greatly improved.This paper uses panel data and econometric analysis methods to analyze the development status of total factor productivity of China's producer services from 2007 to 2016.Then it uses DEA-Malmquist productivity index method to obtain the total factor productivity of China's producer services in the past 10 years.Finally,it establishes a model and makes an empirical analysis on the influencing factors of China's 30 provinces by using generalized least squares GLS,and draws the following conclusions.(1)This paper uses DEA-Malmquist productivity index to measure the total factor productivity of China's producer services.Overall,it is concluded that TFP in China's producer services has shown a positive growth trend in the past 10 years,with an average growth rate of 6%,mainly driven by technological progress,with a contribution rate of 3.8%.On the development trend of sub-regional producer services,the average growth rate of total factor productivity in western producer services is higher than that in central and eastern producer services.The growth rate of total factor productivity in the three regions is also mainly due to technological progress,with the contribution rate reaching 5.9%,but the degree of change in technological efficiency is relatively small.This also shows from another aspect that the improvement of technological efficiency is the most important thing in the development of producer services.(2)In the convergence analysis of total factor growth in producer services,the growth of total factor productivity in the three regions tends to converge,with the convergence rate in the western region being higher than that in the eastern and central regions,and the catching-up effect being obvious.(3)In the empirical analysis,six variables including marketization index,informatization development index,degree of industrialization,degree of urbanization,intensity of innovation input and level of opening to the outside world are selected as influencing factors,and the research finds that the promotion of marketization index has significant promotion effect on the three regions of China.The improvement of informatization level has greatly promoted the total factor productivity growth of producer services in the three regions of China,especially in the western region.Increasing industrialization has a positive effect on the central and western regions,but it has a strong negative effect on the eastern regions.The improvement of urbanization level has a significant positive effect on the east,middle and west of China,especially on the east and central.Increasing investment in innovation has a positive effect on the total factor productivity growth of producer services in the central and western regions.Increasing the level of opening to the outside world has an obvious pulling effect on the eastern and western regions,but the effect on the central region is opposite.