Proceedings of the 3rd International Conference on Bigdata Blockchain and Economy Management, ICBBEM 2024, March 29–31, 2024, Wuhan, China

Research Article

Research on Total Factor Productivity in China's Economic Growth Since the Reform and Opening-up

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  • @INPROCEEDINGS{10.4108/eai.29-3-2024.2347395,
        author={Yangyang  Deng and Xiaohua  Li and Aishan  Ye},
        title={Research on Total Factor Productivity in China's Economic Growth Since the Reform and Opening-up},
        proceedings={Proceedings of the 3rd International Conference on Bigdata Blockchain and Economy Management, ICBBEM 2024, March 29--31, 2024, Wuhan, China},
        publisher={EAI},
        proceedings_a={ICBBEM},
        year={2024},
        month={6},
        keywords={reform and opening-up total factor productivity innovation-driven},
        doi={10.4108/eai.29-3-2024.2347395}
    }
    
  • Yangyang Deng
    Xiaohua Li
    Aishan Ye
    Year: 2024
    Research on Total Factor Productivity in China's Economic Growth Since the Reform and Opening-up
    ICBBEM
    EAI
    DOI: 10.4108/eai.29-3-2024.2347395
Yangyang Deng1, Xiaohua Li1, Aishan Ye1,*
  • 1: Nantong Institute of Technology
*Contact email: yas1230@163.com

Abstract

Total Factor Productivity (TFP) is an important driver of economic growth and a key indicator for measuring the quality of economic growth. This study utilizes Chinese statistical data and employs the Solow residual method to calculate China's TFP. The research reveals that between 1978 and 2022, China's TFP experienced a growth rate of 2.73%, contributing 29.49% to economic growth. However, the level of TFP still needs improvement. Particularly in the last 10 years, China's TFP growth rate has displayed a slow upward trend, and the optimization effect of economic structure has not been significant. Based on these findings, it is suggested that in the new era of China's development, comprehensive deepening of reforms should be continued, the development of an open economy should be steadfastly pursued, and efforts to promote technological innovation should be continuously made in order to shift China's economic growth towards a TFP driven model.