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Author: Hong Chen
Publisher: LAP Lambert Academic Publishing
ISBN: 9783848422807
Category : Economic development
Languages : en
Pages : 260
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Book Description
This thesis examines the Chinese economy by focusing on three issues: convergence, total factor productivity (TFP) and industrial growth. Based on China's 28 provinces, municipalities and autonomous regions (henceforth 'provinces') over 1979-2004, the analysis of convergence discovered the share of physical capital in China's output of 0.23 and convergence rate of 5.6 per cent per annum. The analysis of TFP found that TFP growth in the Eastern and Central Zones was accomplished mainly through technical progress rather than efficiency improvement, while the pattern was completely different in the least developed Western Zone. For China as a whole, TFP grew at a rate of 2.75 per cent per annum, which accounted for 30.02 per cent of its real GDP growth. And the study of industrial growth of 26 industries in 9 provinces of the Eastern Zone over 2001-2005 suggested that the dynamic externalities, such as industrial specialization, competition and industrial spillovers across provinces, played an important role in province-industrial growth. Province-specific externalities, including exports, education, local market size and transport infrastructure, spurred industrial growth.
Author: Hong Chen
Publisher: LAP Lambert Academic Publishing
ISBN: 9783848422807
Category : Economic development
Languages : en
Pages : 260
Get Book Here
Book Description
This thesis examines the Chinese economy by focusing on three issues: convergence, total factor productivity (TFP) and industrial growth. Based on China's 28 provinces, municipalities and autonomous regions (henceforth 'provinces') over 1979-2004, the analysis of convergence discovered the share of physical capital in China's output of 0.23 and convergence rate of 5.6 per cent per annum. The analysis of TFP found that TFP growth in the Eastern and Central Zones was accomplished mainly through technical progress rather than efficiency improvement, while the pattern was completely different in the least developed Western Zone. For China as a whole, TFP grew at a rate of 2.75 per cent per annum, which accounted for 30.02 per cent of its real GDP growth. And the study of industrial growth of 26 industries in 9 provinces of the Eastern Zone over 2001-2005 suggested that the dynamic externalities, such as industrial specialization, competition and industrial spillovers across provinces, played an important role in province-industrial growth. Province-specific externalities, including exports, education, local market size and transport infrastructure, spurred industrial growth.
Author: Will Martin
Publisher: World Bank Publications
ISBN: 9090805303
Category : Agricultural procductivity
Languages : en
Pages : 36
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Book Description
The growth of agricultural productivity is widely believed to be low. But this study finds the productivity rate in agriculture to be higher than that in manufacturing, both on average and for groups of countries at different stages of development. This suggests that a large agricultural sector need not be a disadvantage for growth performance, and may be an advantage.
Author: William J. Baumol
Publisher: Oxford University Press
ISBN: 0195359267
Category : Business & Economics
Languages : en
Pages : 356
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Book Description
This comprehensive study is a collection of original articles that view the current state of knowledge of the convergence hypothesis. The hypothesis asserts that at least since the Second World War, and perhaps for a considerable period before that, the group of industrial countries was growing increasingly homogeneous in terms of levels of productivity, technology and per capita incomes. In addition, there was general catch up toward the leader, with gradual erosion of the gap between the leader country, the U.S., throughout most of the pertinent period, and that of the countries lagging most closely behind it. The book examines patterns displayed by individual industries within countries as well as the aggregate economies, various influences that underlie the process of convergence that seems to have occurred, and the role that convergence has played and promises to play in the future of the newly industrialized nations and the less developed countries. Much of the analysis is set in a historical perspective, with particular attention paid to the record following World War II. The prestigious editors conclude that increasing productivity is the key to rising living standards in a globalized marketplace. Contributors include: Moses Abramovitz, Alice M. Amsden, Magnus Blomstrom, David Dollar, Takashi Hikino, Gregory Ingram, William Lazonick, Frank Lichtenberg, Robert E. Lipsey, Angus Maddison, Gavin Wright, and Mario Zejan.
Author: David Dollar
Publisher: MIT Press
ISBN: 9780262041355
Category : Business & Economics
Languages : en
Pages : 252
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Book Description
Examines the claim that deindustrialization in the US is causing a decline in its competitiveness, especially in view of competition from Germany and Japan. Discusses the relationship between productivity growth in individual industries and the tendency for aggregate productivity levels to converge among OECD countries, and identifies the sources of productivity growth. Looks at the relationship between international trade and productivity convergence in OECD countries and whether the same mechanics of convergence are apparent in developing countries.
Author: Will J. Martin
Publisher:
ISBN:
Category :
Languages : en
Pages : 29
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Book Description
The growth of agricultural productivity is widely believed to be low. But this study finds the productivity growth rate in agriculture to be higher than that in manufacturing, both on average and for groups of countries at different stages of development. This suggests that a large agricultural sector need not be a disadvantage for growth performance - and may be an advantage.Martin and Mitra examine the growth and convergence of total factor productivity in agriculture and manufacturing in a large sample of countries spanning many levels of development over the period 1967-92. There is a widely held but rarely tested view that the rate of growth in agricultural productivity is invariably low. But Martin and Mitra find that the rate of productivity growth in agriculture has been higher than in manufacturing both on average and for groups of countries at different stages of development.Martin and Mitra find evidence of high rates of technical progress in both agriculture and manufacturing. At all levels of development, however, technical progress appears to have been faster in agriculture than in manufacturing.Moreover, there appears to be a stronger tendency for levels and growth rates of total factor productivity to converge in agriculture than in manufacturing - suggesting that international dissemination of innovations has been relatively rapid in agriculture.These results may well reflect the important investments in agricultural research and development in recent decades. They also highlight the need to continue developing and disseminating innovations if countries are to maintain high rates of productivity growth.This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to understand the links between trade and growth.
Author: Andrew B. Bernard
Publisher:
ISBN:
Category : Convergence
Languages : en
Pages : 68
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Book Description
Author: Min Zhu
Publisher: International Monetary Fund
ISBN: 1513515357
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
China’s growth potential has become a hotly debated topic as the economy has reached an income level susceptible to the “middle-income trap” and financial vulnerabilities are mounting after years of rapid credit expansion. However, the existing literature has largely focused on macro level aggregates, which are ill suited to understanding China’s significant structural transformation and its impact on economic growth. To fill the gap, this paper takes a deep dive into China’s convergence progress in 38 industrial sectors and 11 services sectors, examines past sectoral transitions, and predicts future shifts. We find that China’s productivity convergence remains at an early stage, with the industrial sector more advanced than services. Large variations exist among subsectors, with high-tech industrial sectors, in particular the ICT sector, lagging low-tech sectors. Going forward, ample room remains for further convergence, but the shrinking distance to the frontier, the structural shift from industry to services, and demographic changes will put sustained downward pressure on growth, which could slow to 5 percent by 2025 and 4 percent by 2030. Digitalization, SOE reform, and services sector opening up could be three major forces boosting future growth, while the risks of a financial crisis and a reversal in global integration in trade and technology could slow the pace of convergence.
Author: David Greasley
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Using a new 16-country data set we demonstrate a robust negative employment-total factor productivity trade-off 1870-2004. Widely disparate cross country employment growth had a powerful long term influence on productivity dispersion. Unexceptional US productivity growth principally resulted from her exceptional employment growth rather than from her initially high productivity levels. The negative externalities associated with higher employment are shown to have dominated the diminishing of total factor productivity gaps among the 16 countries, and led to the erosion of US productivity leadership over the twentieth century.
Author: Alistair Dieppe
Publisher: World Bank Publications
ISBN: 1464816093
Category : Business & Economics
Languages : en
Pages : 552
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Book Description
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
Author: Mr.Roberto Cardarelli
Publisher: International Monetary Fund
ISBN: 1513551647
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
Total factor productivity (TFP) growth began slowing in the United States in the mid-2000s, before the Great Recession. To many, the main culprit is the fading positive impact of the information technology (IT) revolution that took place in the 1990s. But our estimates of TFP growth across the U.S. states reveal that the slowdown in TFP was quite widespread and not particularly stronger in IT-producing states or in those with a relatively more intensive usage of IT. An alternative explanation offered in this paper is that the slowdown in U.S. TFP growth reflects a loss of efficiency or market dynamism over the last two decades. Indeed, there are large differences in production efficiency across U.S. states, with the states having better educational attainment and greater investment in R&D being closer to the production “frontier.”
