The Study Of Efficiency Improvement In Chinese Economic Growth Since The Reform And Opening-up Policy

Since the reform and opening-up policy, Chinese economy gained rapid growth; and many domestic and foreign scholars begin to research it. But a lot of scholars (foreign scholars are in major) think it that Chinese economy growth is mainly because the growth in factor inputs, and the efficiency improvement is not the main reason. At the same time, some domestic scholars carried out extensive research for the view. Studies have shown that, in Chinese economy growth, total factor productivity has a great contribution rate.Domestic and foreign scholars do not have the same statement that major contributor to economy growth is factor inputs or the improvement of total factor productivity, or economy growth whether exist. Faced with such arguments, this article use time-series data from 1978 to 2007 do empirical analysis to prove it that whether existing efficiency improvement in the economy growth, and major contributor to our economy growth is factor inputs or the improvement of total factor productivity.According to the result of empirical analysis, this article obtain results that there is clipping efficiency improvement in the economy growth, and the contribution to economy growth is better than factor inputs and it is the main reason of economy growth. The traditional decomposition method believe that the factor inputs is the main reason of economy growth, no matter before or after reform and opening-up policy. Compared with it, maybe the result of this article is more in accordance with the actual situation of Chinese economy growth. And economy growth is more sensitive to efficiency improvement, so if want to speed up the pace of economic growth, we must increase the speed of efficiency improvement. And now, the speed of factor inputs and efficiency improvement is not very quick, in some periods, factor inputs even has negative growth. It explains that Chinese economy still has considerable room for grow; we can still increase the growth rate in theory.