Creative accounting or creative destruction? Firm-level productivity growth in Chinese manufacturing

• 成果类型: Article
• 署名作者: Brandt, Loren; Van Biesebroeck, Johannes; Zhang, Yifan
• 署名单位: KU Leuven; University of Toronto; Lingnan University
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2011.02.002
• 发表日期: 2012
• 页码: 339-351
• 关键词: tfp; Industrial development; reallocation; entry; EXIT; CHINA

摘要

We present the first comprehensive set of firm-level total factor productivity (TFP) estimates for China's manufacturing sector that spans China's entry into the WTO. For our preferred estimate, which adjusts for a number of potential sources of measurement error and bias, the weighted average annual productivity growth for incumbents is 2.85% for a gross output production function and 7.96% for a value added production function over the period 1998-2007. This is among the highest compared to other countries. Productivity growth at the industry level is even higher, reflecting the dynamic force of creative destruction. Over the entire period, net entry accounts for over two thirds of total TFP growth. In contrast to earlier studies looking at total non-agriculture including services, we find that TFP growth dominates input accumulation as a source of output growth. (C) 2011 Elsevier B.V. All rights reserved.