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Abstract
Productivity is a performance indicator of converting inputs into outputs and an important tool for assessing the state of economic growth. It is closely related to structural change. A large number of empirical studies show that structural change is an important component of productivity growth. And it is the result of the interaction of supply-side and demand-side factors. However,in the empirical studies about structural change,the vast majority of studies have been conducted from the supply side of factor inputs and a small number of studies have been done from the demand side which are only related to structural change effecting labor productivity growth.
The Chinese economy had experienced rapid growth for 30 years and now the gear of growth is shifting from high speed to medium-to-high speed. Industry is an important part of the national economy and the industrial added value growth rate continued to decline from 12.6% in 2010 to 6.9% in 2014. In this situation of industrial economic growth slowdown,it has become an important topic of industrial economic development to create a new growth engine by transforming the pattern of economic growth and economic restructuring. Resource Reallocation effect from restructuring is an important source of productivity growth. So optimizing industrial interior structure is an important way to promote industrial growth and tap the growth potential in order to improve industrial productivity.
In the book,research object is the structural change of Chinese industry. Based on the related theoretical and empirical studies between structural change and productivity,from the supply side and demand side,according to the research design: the characteristic fact of structural change,selecting or constructing methods,measuring and analyzing the related results,studying factors and policy suggestions,the book studies the effects of structural change of Chinese industry on the growth of labor productivity,capital productivity and total factor productivity,as well as the factors affecting changes in industrial structure in 1992-2011,seeking to provide a useful reference for the role,the basis,the direction and policies of industrial restructure at the present stage. Specifically,the main work and conclusions of this book are as follows.
Firstly,from the supply side,the research uses sample data of 36 industrial sectors from 1994 to 2011 in China,employs the shift share analysis,Syrquin's multi-country method and its extended model respectively,measures and analyses the effect of the structural change on the growth of the partial and total factor productivity. The results show that:①1994-2011,industrial labor productivity continues to grow,the contribution rate of labor input structural change in inter-industry to labor productivity growth is 12.23%,mainly because of more labor forces shifting to the sectors in which labor productivity grows faster than the others. From the time tendency,the effect of the labor structural change on labor productivity growth improve continuously,and labor allocation tend to be more reasonable. ②1994-2011,the growth of industrial capital productivity is relatively small,the contribution rate of capital input structural change in inter-industry to capital productivity growth is 29.58%,mainly because more capital is transferred to the sectors with higher capital productivity in the base period. From the time trend,the contribution of the capital structural change on capital productivity growth is unstable and fluctuating. ③1994-2011,the total factor productivity (TFP) continued growth,the structural change of capital and labor in inter-industry has a significant positive impact on the industry TFP growth. Specifically,based on the perspective of resource reallocation the findings show:the contribution rate of the structural change to the industry TFP growth rate is 23.09%;based on resource misallocation the research shows the contribution rate of the structural change to the industry TFP growth rate is 31.42%. In the sector level,the effect of capital misallocation on TFP is larger in the industries whose capital is lack of capital and the labor misallocation on TFP is greater in the industries of relative labor redundance or shortage. From the time trend,the reallocation effect of the capital and labor on TFP growth rises.
Secondly,from the demand side,the research uses the Chinese input-output tables at comparable prices in 1992,1997,2002 and 2005,and applies structural decomposition analysis method,as well as measures and analyzes the effect of the demand structural change on the growth of the partial and total factor productivity. The findings show that:①1992-2005,industrial labor productivity rises continuously,labor-saving is a major factor in labor productivity growth,while changes in final demand coefficient and total final demand on labor productivity growth have less negative effect. The productivity effect of changes in final demand coefficients rises and the productivity effect of changes of total final demand fluctuates by the time trend analysis. ②1992-2005,industrial capital productivity growth is relatively slow,capital-saving is a major factor in capital productivity growth,changes in demand for various types of final total with a small positive impact on capital productivity growth and change of final demand coefficient for capital productivity growth has a greater negative impact. From the analysis of time trends,the change of final demand coefficient for capital productivity growth has a fluctuating impact,and the effect of change of all types of total demand on capital productivity growth rises. ③With 1992 as the base year,the industrial TFP growth rates increase by 46.1%,from 1997 to 2005,mainly due to the TFP growth rates of internal sectors increase in industry,but the structural change of total demand for improving TFP growth rate has less negative effect. From the time trend analysis,the productivity effect of changes of all types of total final demand increases,the impact of final demand coefficient change on TFP growth is unstable.
Lastly,the research studies the factors from the demand,technology and trade that influence the industrial structural change in China. Among them,it uses the data about industrial structural change of 31 provinces and autonomous regions in China from 1993 to 2011 and applies the quantile regression model to focus on the factors that influence changes of the industrial aggregate economic structure. The results show that:① There exit significant structural demand effects and technical effects in the industrial structural change. Moreover,the structural demand effects and technical effects have the significant differences for the different levels of the proportion of industrial output and employment. When taking into account the demand and technology effect of the structural change,the demand effect arising from income change is greater than the technical effect arising from labor productivity growth. ② Among the factors affecting the share of industrial output,GDP per capita has significant positive impact for the different share of industrial output,industrial labor productivity has not a significant effect on the whole,total export-import volume share of GDP has the negative impact. ③ Among the factors affecting the share of industrial employment,GDP per capita has significant positive impact,industrial labor productivity has a significant negative impact on the different share of industrial employment,total export-import volume share of GDP has a positive impact on the different share of industrial employment.