Sources of Economic Growth in China's Western Regions——Based on the Dual Constraints of Human Capital and Energy Consumption
Yang Wan-pin
Abstract
Yang Wan-pin
Abstract
In order to explore sources of economic growth of the western China,this paper takes the western regions that are relatively economic backward in China as the research object,brakes economic growth down into four parts by use of DEA method:human capital,composite material capital,efficiency improvement and technological progress,and makes a com parative study of the western regions before and after the policy—The Great Development of The West.The study brings out that factor inputs,represented by human capital,physical capital and energy consumption,almost play an equal role in promot ing economic growth with the total factor productivity which is represented by technological progress and efficiency improve ment;however,after developing the western regions,total factor productivity shows a good trend as a more important role in promoting economic growth.By using absolute convergence equation the paper investigates the convergence effect between eco nomic growth of China's western regions and those four factors,and finds that China's western regions demonstrating signifi cant economic convergence,and this consequence is the common results of technical efficiency,technological progress and physical capital.The study adopts Tobit model to deeply analyze the transmission mechanism of constraints of economic growth by the energy inputs and human capital,and the result shows that changing the style of economic growth of China's western re gions is an important source and strong motivation for its sustainable economic growth.
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In order to explore sources of economic growth of the western China,this paper takes the western regions that are relatively economic backward in China as the research object,brakes economic growth down into four parts by use of DEA method:human capital,composite material capital,efficiency improvement and technological progress,and makes a com parative study of the western regions before and after the policy—The Great Development of The West.The study brings out that factor inputs,represented by human capital,physical capital and energy consumption,almost play an equal role in promot ing economic growth with the total factor productivity which is represented by technological progress and efficiency improve ment;however,after developing the western regions,total factor productivity shows a good trend as a more important role in promoting economic growth.By using absolute convergence equation the paper investigates the convergence effect between eco nomic growth of China's western regions and those four factors,and finds that China's western regions demonstrating signifi cant economic convergence,and this consequence is the common results of technical efficiency,technological progress and physical capital.The study adopts Tobit model to deeply analyze the transmission mechanism of constraints of economic growth by the energy inputs and human capital,and the result shows that changing the style of economic growth of China's western re gions is an important source and strong motivation for its sustainable economic growth.
Key concepts: Human capital, Economics, Convergence (economics), China, Total factor productivity, Capital deepening, Technological change, Growth accounting