The Stylized Facts of China’s Unbalanced Economic Growth:
Read
DownLoad |
| Title | The Stylized Facts of China’s Unbalanced Economic Growth:
|
| Author | Zhang Shangfeng,Xu Bing and Wang Tongsan |
| Organization | Zhejiang Gongshang University;CASS |
| Email | zhshangfeng@163.com；bingxu@zjgsu.edu.cnwangts@cass.org.cn |
| Key Words | Stylized Fact; Unbalanced Growth; Labor Share; Time-varying Elasticity Production Function; Decomposition formula |
| Abstract | This paper follow the stylized fact procedure proposed by Wang (2007), put forward China's unbalanced growth stylized facts, and construct the desirable model time-varying elasticity production function, which may avoid the Lucas critique, and is a specific econometric models setting rule proposed by Li (2008). Derivative of time-varying elasticity index decomposition formula, to explain that the rising of capital elasticity and the decreasing of labor elasticity from the year 1995, is due to the capital marginal product index is greater than capital productivity index, while labor marginal product index is less than labor productivity index. This paper aims to establish preliminary model for China's economic growth stylized facts. |
| Serial Number | WP661 |
| Time | 2014-08-19 |
|