Research On Capital Productive Stock And Output Efficiency Of ICT In China

With the continuous advancement of China’s informatization process,information and communication technology(ICT)has been widely used in various fields,and its position in economic development has become increasingly prominent,representing the new direction of productivity development;At the same time,the CPC Central Committee proposed to build a digital China and took the digital China strategy as a national strategy.In this context,all parties’ investment in ICT has gradually increased,but whether the huge amount of investment can show that China’s ICT capital stock is sufficient and has high output efficiency has not been determined.To solve this problem,we first need a set of capital stock data.In the measurement of capital stock,the measurement of productive capital stock pays more attention to the production side of capital,which is more consistent with the characteristics of capital as a factor input.At present,some western countries,international organizations and international projects have been able to regularly publish the data of productive capital stock.Although China has gradually optimized the national accounting system according to the SNA(National Economic Accounting System)recommendations,it has not absorbed its productive capital stock measurement ideas and has not carried out official measurement,so it is difficult to obtain ICT productive capital stock data in China.In this context,carrying out the measurement of ICT productive capital stock and studying its output efficiency will not only help to understand the real capital stock level of ICT in China,but also help to improve the efficiency of ICT capital output.Guided by the measurement theory of the perpetual inventory method,this paper comprehensively uses empirical analysis,normative analysis and other research methods,and conducts research along the idea of "measurement theory-measurement method-empirical analysis-countermeasures and suggestions".In this paper,ICT assets are divided into six categories: communication equipment,computers,audio-visual equipment,digital media equipment and radar and supporting equipment,electronic components and electromechanical equipment,and software and information services-digital technology applications.Based on the perpetual inventory method,the productive capital stock of ICT assets in China from 2003 to 2020 is calculated through the simulation of different service age efficiency functions of asset groups,and the efficiency of various ICT capital outputs is further studied.Apart from the introduction,the specific research contents of this paper are mainly the following three parts:First,introduce the theory of productive capital stock measurement.This part defines the concept of productive capital stock and clarifies the relationship and difference between productive capital stock and wealth capital stock.This part focuses on the perpetual inventory method,from which retirement mode and service age efficiency function are further derived.Based on the analysis of various retirement modes and service age efficiency function forms,their advantages and disadvantages are further clarified.Second,we use the perpetual inventory method to calculate the ICT productive capital stock in China.This part first defines the measurement object of this article,classifies ICT assets from the perspective of industry,and determines their respective service lives according to relevant documents in China.On this basis,the productive capital stock measurement practice of ICT six types of assets is carried out,including the key points of the current research on productive capital stock measurement,specifically the constant price investment sequence,retirement mode and service age efficiency function.Finally,the measurement results of productive capital stock of ICT six types of assets under geometric model and hyperbolic model are obtained.Third,the analysis of ICT productive capital stock measurement results and output efficiency.This part first analyzes the status quo and structure distribution of ICT productive capital stock in China from the overall and various perspectives based on the above measurement results;Secondly,in the robustness analysis,the differences between the retirement mode and the service age efficiency function in the measurement of productive capital stock are discussed.It is found that the retirement mode and the service age efficiency function affect the measurement results to some extent,but the overall development trend is consistent;Finally,using the capital output ratio and output elasticity,this paper analyzes the overall ICT and various ICT hardware capital output efficiency in China.The main conclusions of this paper are as follows:(1)With the popularization of mobile Internet technology,the stock of software productive capital has grown significantly,while the growth of hardware manufacturing industry is slow.(2)The software service industry has gradually become a hotspot of investment,and became the focus of investment for ICT manufacturing industry in 2013.(3)There are differences between the capital output efficiency of different ICT in China.The capital output efficiency of ICT hardware is greater than that of software.Within ICT hardware,the output efficiency of communication equipment is higher.Finally,based on the theoretical and practical analysis,according to the main research conclusions of this paper,three suggestions are put forward concerning the development of ICT productive capital stock measurement and the improvement of ICT capital output efficiency in China:(1)Build China’s ICT productive capital stock database,which should at least include two sub databases: the basic database and the accounting method database.(2)While attaching importance to the development of the software service industry itself,we should also attach importance to industrial integration,promote the deep integration of the Internet,big data and other industries,deepen business model innovation through the development of key application software and application platforms,and enhance the driving role of the software service industry.(3)Pay attention to the construction of ICT hardware manufacturing industry,especially the communication equipment manufacturing industry,and promote the iterative upgrading of ICT manufacturing industry.The innovation of this paper is mainly reflected in the following two points:(1)Based on the detailed classification of ICT assets from the perspective of industry classification,asset heterogeneity can be fully considered when setting the measurement parameters of productive capital stock.(2)Using time series analysis to analyze the efficiency of ICT capital output over the years from the static and dynamic perspectives has some new ideas.