Capital misallocation and The Losses of Total Factor Productivity——Evidence from the China Industry Business Performance
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| Title | Capital misallocation and The Losses of Total Factor Productivity——Evidence from the China Industry Business Performance
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| Author | Zhang Qingjun,Fan Mingtai and Su Mingzheng |
| Organization | Institute of Quantitative & Technical Economics, Chinese Academy of Social Sciences;School of Finance Dongbei University of Finance and Economic |
| Email | zqingjun@126.com; |
| Key Words | Capital Misallocation；Total Factor Productivity；Measure |
| Abstract | Resources misallocation make the configuration efficiency of factors of production are not sufficient, the structural shortage of money and excess capacity, therefore, 18 world third plenary session put forward plays a decisive role in the allocation of resources, improve the efficiency of resource allocation This article from the actual output and the optimal configuration under the condition of output is the point of view of constructing misallocation index, and further resources mismatch specific decomposition into intra-industry misallocation and the misallocation between industry, in addition, this article also build the size of the wedge capital wedge labor wedge and other auxiliary index to reflect the characteristics of our country's enterprise resources misallocation Using 40 Chinese industrial enterprise database industry data from 130367 companies has carried on the empirical study results indicate that, first of all, our country enterprise exists obvious resources misallocation, if achieve the optimal allocation of resources conditions. |
| Serial Number | WP683 |
| Time | 2014-09-04 |
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