A QUANTITATIVE-ANALYSIS OF CHINESE INDUSTRIAL-STRUCTURE AND TECHNOLOGICAL-CHANGE - PRODUCTION-FUNCTIONS FOR AGGREGATE INDUSTRY, SECTORAL INDUSTRIES AND SMALL-SCALE INDUSTRY

被引:7
作者
JIA, LQ
机构
[1] Department of Economics, University of Otago, Dunedin
关键词
D O I
10.1080/00036849100000068
中图分类号
F [经济];
学科分类号
02 ;
摘要
In this study we estimate the Chinese aggregate, sectoral and small-scale industrial production functions based on three models, the CES(l), CES(2) and Cobb-Douglas production functions. Testing the estimated results we find that the Cobb-Douglas production function is the appropriate functional form for underlying Chinese industrial structure. The study indicates some serious structural and technological problems, such as decreasing returns to scale, unitary substitution between labour and capital, slow technical progress and low economic efficiency. The findings suggest that an intensive industrial development policy should be pursued in China. © 1991, Taylor & Francis Group, LLC. All rights reserved.
引用
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页码:1733 / 1740
页数:8
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