Research On Measurement And Influencing Factors Of Total Factor Productivity Of Manufacturing Industry In Hubei Province

The 19 th National Congress of the Communist Party pointed out that China's economic development is in a key period of transition from a high-speed growth stage to a high-quality development stage.According to international experiences,the realization the transition must rely on the continuous improvement of total factor productivity.Also,the level of total factor productivity is a measure of the effectiveness of economic transition.Under such circumstances,how to continuously improve the total factor productivity has become an important problem affecting China's economic transition and sustainable economic growth.For a long time,the manufacturing industry has been the basic industry and pillar industry supporting China's national economic development,and it is also the leading sector to promote China's economic growth.Hubei Province is an important old industrial base and a large manufacturing province in China.The creation of economic activities and social wealth cannot be separated from the development of manufacturing industry.Under the background of the new normal,accelerating the industry transformation and upgrading and improving the total factor productivity have become the important forces to enhance the industrial strength of the manufacturing industry in Hubei Province.Therefore,this thesis measures and analyzes the total factor productivity of manufacturing industry in Hubei Province,reflects the change of economic growth mode and the improvement of growth efficiency and quality of manufacturing industry in Hubei Province in recent years,as well as explores the important factors impact through empirical research,which have certain practical guiding significance for improving the total factor productivity of the manufacturing industry,promoting industrial transformation and upgrading,and achieving high-quality economic development.Based on the theory of economic growth and total factor productivity,this thesis uses the non-parametric DEA-Malmquist index method to measure the total factor productivity index and its decomposition index of manufacturing industry in Hubei Province and other regions in China from 2007 to 2016,and focuses on analyzing and summarizing the level of total factor productivity growth and its dynamic evolution of manufacturing industry in Hubei Province.At the same time,the differences of total factor productivity growth among regions are compared.According to the results,from 2007 to 2016,the total factor productivity of manufacturing industry in Hubei Province showed a trend of rising volatility,which achieved a growth of 6.2% and was at a medium level among all regions.In addition,the measurement results show that differences among the level of different industries are large,and reflect the direction of the transformation and upgrading and the adjustment of industrial structure of the manufacturing industry in Hubei Province.Then,based on the panel data of 21 manufacturing industries in Hubei Province from 2007 to 2016,empirical research was conducted to analyze the impact of R&D investment,human resource quality,FDI,industrial agglomeration and marketization level on total factor productivity and its decomposition index.The results show that all the five factors have a positive effect in promoting the growth of total factor productivity.Among them,R&D promotes the growth of total factor productivity by improving technological progress,while the level of marketization promotes the growth of total factor productivity by improving technical efficiency.Finally,based on the previous research and the development status of manufacturing industry in Hubei Province,the countermeasures and suggestions for improving the total factor productivity of manufacturing industry and accelerating industrial transformation and upgrading are put forward.