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TFP and the change of the mode of economic growth of China

Sanmang Wu

Open publisher page 1 citations

Abstract

Since China began to carry out the policy of reform and opening-up,great successes have been achieved in economic construction.However,through calculating TFP and its rate of growth,the author draws the following conclusion in this article that generally,the economic growth of China is driven by capital. Therefore,in order to promote the long-term and stable growth of China's economy,the technological level and production efficiency must be raised and the mode of economic growth be changed so as to realize the transformation of the capital-driving mode to the innovation-driving mode.

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What this paper is about

Since China began to carry out the policy of reform and opening-up,great successes have been achieved in economic construction.However,through calculating TFP and its rate of growth,the author draws the following conclusion in this article that generally,the economic growth of China is driven by capital. Therefore,in order to promote the long-term and stable growth of China's economy,the technological level and production efficiency must be raised and the mode of economic growth be changed so as to realize the transformation of the capital-driving mode to the innovation-driving mode.

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Available abstract

Since China began to carry out the policy of reform and opening-up,great successes have been achieved in economic construction.However,through calculating TFP and its rate of growth,the author draws the following conclusion in this article that generally,the economic growth of China is driven by capital. Therefore,in order to promote the long-term and stable growth of China's economy,the technological level and production efficiency must be raised and the mode of economic growth be changed so as to realize the transformation of the capital-driving mode to the innovation-driving mode.

Key concepts: China, Total factor productivity, Economics, Mode (computer interface), Capital (architecture), Carry (investment), Economic system, Order (exchange)

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