You, Kefei ORCID: 0000-0001-7253-5838 and Sarantis, Nicholas (2010) Labour Reallocation and Total Factor Productivity Growth in China. [Working Paper] (Unpublished)

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Abstract

This paper carries out an empirical investigation of the contribution of labour reallocation, which can produce efficiency gains over and above those associated with technical progress, to total factor productivity in China during the pre-reform and post-reform periods. We consider two forms of labour reallocation, rural and ownership transformation, and exam their contribution within the frameworks of VES, CES and Cobb Douglas production functions. The empirical evidence rejects VES and CES and supports the Cobb Douglas production function. We find that rural transformation has made a highly significant contribution to total factor productivity and output growth in China irrespective of the production function and capital series employed. In contrast, ownership transformation has not had a significant impact on output and total factor productivity.

Item Type:	Working Paper
Uncontrolled Keywords:	Rural transformation; Ownership transformation; Total factor productivity; VES; CES; Cobb-Douglas; China
Subjects:	H Social Sciences > HF Commerce > HF5601 Accounting H Social Sciences > HG Finance
Faculty / School / Research Centre / Research Group:	Faculty of Business Faculty of Business > Department of Accounting & Finance
Last Modified:	27 Feb 2019 16:01
URI:	http://gala.gre.ac.uk/id/eprint/21410

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