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Frontiers of Economics in China

Front Econ Chin    2011, Vol. 6 Issue (2) : 229-248     https://doi.org/10.1007/s11459-011-0130-8
research-article
Factor Function Characteristics and Origin of Economic Growth of China
Zhiqing Dong1(), Linhui Wang2(), Jia Sun3()
1. Center for Quantitative Economics, Jilin University, Changchun 130012, China; 2. School of Economics, Northeast Normal University, Changchun 130117, China; 3. Economic Department, Changchun Taxation College, Changchun 130117, China
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Abstract

The paper makes an empirical study on factor contribution and its stage variation characteristics during 1952–2005 and 1978–2005 in China. GMM and OLS tests show that the robustness and significance level of the institution, the physical capital and human capital’s contributions are much higher than other factors, and 70% of economic growth is boosted by the capital and the labor input. Factor contribution decomposition and TFP growth indicate trade has the most remarkable influence on economic growth. The state space model finds that physical capital, human capital, technological progress, finance, trade and institution have different effects on economic growth in different periods. Namely, factor contribution does have the characteristics of stage variation.

Keywords factor contribution      economic growth      comparative empirical study     
Corresponding Author(s): Zhiqing Dong,Email:dongzq@jlu.edu.cn; Linhui Wang,Email:linhuiwang73@sina.com; Jia Sun,Email:sunjiamakesit@hotmail.com   
Issue Date: 05 June 2011
 Cite this article:   
Linhui Wang,Jia Sun,Zhiqing Dong. Factor Function Characteristics and Origin of Economic Growth of China[J]. Front Econ Chin, 2011, 6(2): 229-248.
 URL:  
http://journal.hep.com.cn/fec/EN/10.1007/s11459-011-0130-8
http://journal.hep.com.cn/fec/EN/Y2011/V6/I2/229
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