Research On The Change Of Total Factor Productivity Of Manufacturing Industry In Guangdong Province And Its Influencing Factors

Since the implementation of the reform and opening up policy,China's economic development has been very rapid,maintaining a high growth rate.However,after the global economic crisis broke out in 2008,the global economic structure has undergone a new round of reshuffle.The external demand of China's economy has decreased drastically,and the conditions for internal development are not the same.China's economy has entered a new stage of high-speed growth.At this stage,the main goal is to achieve high-quality development of the economy,especially the manufacturing industry.Therefore,the country has issued an outline for the development of manufacturing industry-"Made in China 2025" and proposed to enhance manufacturing Industry innovation capacity and total factor productivity.However,China's manufacturing industry is mainly distributed in the coastal economic belt.Among them,Guangdong Province,as a major manufacturing province in China,has rapidly developed and expanded by taking advantage of its policy advantages and geographical advantages at the beginning of reform and opening up.The complete manufacturing system has become an important driving force for the industrial economy in Guangdong Province and even the whole country.However,behind decades of rapid development,Guangdong's manufacturing industry also faces many problems.In recent years,due to economic structural adjustment,aging population structure,and international trade conflicts,Guangdong's manufacturing industry has begun to slow down.Under the special background of China's overall economic transformation and development,how can Guangdong Province give full play to its existing advantages and properly handle all aspects of the problem,so as to achieve the growth of total factor productivity of the manufacturing industry,enhance industrial competitiveness,and maintain stable economic development?This is a major issue currently facing Guangdong Province.After fully studying the theory and method of total factor productivity measurement,this article first analyzes the development of the manufacturing industry in Guangdong Province,and then uses the fixed net asset value and the average annual number of employees as indicators of capital and labor input.The total output value was used as an output indicator.A total of 25 industries were selected.The Manquist index method based on data envelopment analysis was used to measure the total factor productivity of Guangdong's manufacturing industry from 2004 to 2017.The empirical analysis of the factors affecting the overall TFP of the manufacturing industry in Guangdong Province is followed by grouping the manufacturing industries by factor intensity,and examining the differences in the impact of each factor on industries with different factor intensity.Empirical evidence shows that the average size of the industry and the productive service industry can promote the increase of total factor productivity,while the proportion of state-owned economy,foreign direct investment,capital deepening,and tax rates have a restraining effect on total factor productivity.Finally,the corresponding industrial development countermeasures are put forward according to the influence ways of each influencing factor.