【作者】 王曦； 舒元； 才国伟；

【Author】 XI WANG YUAN SHU GUOWEI CAI (Zhongshan University)

【机构】 中山大学岭南学院；

【摘要】 本文论证,在经济转型期间,我国国有经济存在产量与利润的双重目标,这背离了传统TFP份额增长核算法的微观基础。我们证明,此时传统TFP份额核算法低估了国有经济的真实TFP增长率,也低估了整体经济的TFP增长率;并且这种低估具有系统性,不会因数据质量问题以及生产函数的形式而改变。有鉴于此,我们推导了新的TFP核算公式。最后我们在一定假设下进行了实际测算:新方法测算的TFP年均增长率比传统方法测算的结果高1.8个百分点。更多还原

【Abstract】 In the period of economic transition,China’s state-owned enterprises(SOEs) have both profit and quantity objectives due to their special property-rights arrangements. This leads to the violation of the traditional TFP growth accounting rationale.With this background, we prove that the traditional TFP accounting will systematically underestimate the true TFP growth rates of both SOEs and the whole economy.New accounting formulas are then derived based on SOEs’actual behavior.Under some assumptions,our empirical study demonstrates that the annual TFP growth rate is higher than that with the traditional method by 1.8 percentage points.更多还原