A Re-Examining of the Dynamic of Technology and Other Factors in China's Economic Growth

Based on the CD-production function which contains technical progress, capital, labor and human capital and using panel data of 31 provinces from 1997 to 2009, this article makes an empirical study of the dynamic of technology and factor in China's economic growth over the recent years. It also examines the robustness of these results. The results show that, in addition to accelerating the pace of technological innovation, factors such as increased investment, more labor input, and higher level of human capital have also been key factors in maintaining high growth of China's economy. Moreover, measures such as more investment to the eastern and central areas, higher level of human capital in the eastern regions, and labor transfer to the western regions will also contribute to China's sustained rapid economic growth in the years to come.