The Journal Of Econometric Study Of Northeast Asia (jesna)
(Nagarajan)
Inflation has occurred
repeatedly in China. It is still regarded as one of the big
issues endangering stable and sustained economic growth.
This paper analyzes the cost structure (inflation), total
factor productivity (TFP), and their relationships by
industry in China for the period 1987-1997, using 1987, 1992
and 1997 input-output tables. For this purpose, we estimate
the capital stock by industry and the 1997 input output
table at constant 1990 prices. We divide the whole ten-year
period into two parts: 1987-1992 and 1992-1997. This
discussion is made because China adopted policies for the
socialist market economy in 1992, since when nearly all
prices have been determined in the market. For the two
periods, we compare and examine the cost structure of each
industry, the relationship between productivity and
inflation, and the contribution made to the improvement of
the productivity (TFP) of the Chinese economy by adopting
the market economy. We also discuss some implications for
inflation since 2003, with reference to the government
policy of macro-control.Inflation has occurred repeatedly in
China. It is still regarded as one of the big
issues endangering stable and sustained economic growth.
This paper analyzes the cost structure (inflation), total
factor productivity (TFP), and their relationships by
industry in China for the period 1987-1997, using 1987, 1992
and 1997 input-output tables. For this purpose, we estimate
the capital stock by industry and the 1997 input output
table at constant 1990 prices. We divide the whole ten-year
period into two parts: 1987-1992 and 1992-1997. This
discussion is made because China adopted policies for the
socialist market economy in 1992, since when nearly all
prices have been determined in the market. For the two
periods, we compare and examine the cost structure of each
industry, the relationship between productivity and
inflation, and the contribution made to the improvement of
the productivity (TFP) of the Chinese economy by adopting
the market economy. We also discuss some implications for
inflation since 2003, with reference to the government
policy of macro-control.
Resumos Relacionados
- Stock Market - The Five Myths_4
- Stock Market - The Five Myths_4
- Action Market, The "real Economy"
- Hr In India - Country Report
- China And The Dollar
|
|
