: 3 ( ) ( ) : 1995 2002, 37 (TFP),, (FTP) (TE) (AE) (SE) : ( ) TFP 618 %, ; ( ) TFP, 14 ; ( ), TFP, TFP 7,, ( ) TFP, 0102, TFP 0133, TFP,,, : 1Π4, 8 % 9 %,,,,,, 2004, 45 %, 30 %,, 1995 2002 1995 2002 15 % 19 %,, Aigner Lover Schmi (1977) Meeusen Van den Broeck (1977),, 3,,,, ( : HKU7167Π98H A0EΠH - 05Π99) 4
2005 3, Nishinizu Page (1982) ( TFP), Bauer (1990) Fecher Perelman (1992) OECD Sangho Kim(2001) Kaliraan, Obwona Zhao (1996) (1998) (2001) (2004), DEA2Malmquist TFP Zhuobao Wei (2002) 1993 1036 Yanrui Wu (2000) 1981 1995 27, (panel data), 1994 2002,, Schmi Sickles (1984),, : ; ;,,,,,,,, (unbalanced panel data) 1995 2002 Kunbhakar (2000), : (1) ; (2) ; (3) ; (4) ( ) Kumbhakar (2000), : (Total Factor Productivity) ( Frontier Technology Progress) ( Technical Efficiency Relative to the Frontier) (Allocative Efficiency) (Scale Economy),,,tulingxiao @163. com ;,xiaogent @ hku. hk 5
: : y i = f ( x i, t) exp ( - u i ) (1), y i i ( i = 1,, N) ( = 1,, T) x i f (. ) t u i > = 0,, t,, i,, x 1. (FTP) f (. ) t, : dlnf ( x, t) = 5lnf ( x, t) 5 t 5lnf ( x, t) dx Πx + 5 x Πx (2) 5lnf ( x, t)π5 t, (FTP),, = 5lnfΠ5ln x,, gx,gx x gx = 5ln x Π5 t,, (2) : dlnf ( x, t) 2. (TE) ( gte) (2) = FTP + gx (3) (TE),,TE, : gy = dln yπ (1), t, (3), : gy = dlnf ( x, t) - du = FTP + gx - : gte = - duπ 3. TgFP (growth accounting), : TgFP = gy - du (4) S gx (5),S, S = 1,,,, 41 (AE) (SE) (4) (5), : TgFP = FTP - du + ( - S ) gx = FTP - du + ( - S ) gx + ( RTS - 1) gx (6) 6
, = = ΠRTS,, = 1 S, RTS = : Π, (6) (AE) : A E = (SE) : S E = ( RTS - 1), ( - S ) gx gx, (6) TFP,, 1,, 1,, A ( x t, y t ) B ( x t + 1, y t + 1 ), ( y t + 1 Πx t + 1 ) > ( y t Πx t ),, t t + 1, f ( x, t + 1 ; ) > f ( x, t ; ),,,, : y t < f ( x, t ; ), y t + 1 1 < f ( x, t + 1 ; ) t t + 1,, [ y t Πf ( x, t ; ) ] > [ y t + 1 Πf ( x, t + 1 ; ) ] ( ), TFP,,, (time2varying) : ln y i = 0 + ln x i + T t + 1 2 l ln x li ln x 1 i + l 2 TTt 2 + T tln x i + v i - u i,,1 = L, k, y i ; t = 1,2,, T, ; x, l ( = L, K; l = L, K) ; u i ( ),, v i, v u iidn (0, 2 v) Battese Coelli (1992), : 2005 3 u i = u i exp[ - ( t - T) ] (8) (7) 7
, u i, u i N + (, 2 u ) ( - u i ),, (7) (8) : = 2 uπ 2 s, 2 s = 2 u + 2 v i ( TE i ), Jondrow Lovell Materov Schmi (1982) ( JLMS ), v i - u i u i, TE i = exp ( - u i ) (9),, u : u i = u i 3 exp[ - ( t - T) ], : gte i = - 5 u i Π5 t = u i exp[ - ( t - T) ] = u i (10),, u i TFP, (7), ( K L) : = 5lnf ( x, t)π5ln x = + 1 2 l ln x l RTS =, SE : gk,gl (AE) : l + ln x + T t,,1 = L,L. (11),RTS < 1, = 1, > 1 SE = ( RTS - 1) ( k 3 gk + 1 3 i) (12) A E = ( k - S k ) 3 gk + ( l - S l ) 3 i (13) (7), ( ) : ( ) FTP = 5lnf ( x, t)π5 t = T + TT t + T ln x, = L, K. (14) 1995 2002, 22000, 21000,8 177086 37,, 500, 12 %, 1617 %, 40 %, GDP 15 % 19 %,, 8 :
2005 3, 1995 2002,,, ( ) (7), y it (avalue), x k x 1 (nvfixa) (labor) t = 1,2,,8 1995 2002, ( S l S k ),, TFP, (lnk,lnl) ( S l, S k ),,,, :11 ;21 ;31 ;41 ;51, 38,,, ( ) ( TFP), 1996 2002 1115 %, 1213 % 414 % : TgFP = TgFP, 3 avalue, Π avalue,, TgFP,, avalue,, 1996 2002, 618 % 1996 1997 413 % 017 %,,1998 2002 310 % 715 % 1112 % 812 % 1410 %,1996 2002 TFP : 9
: 1718 % 1610 % 1318 % 1316 % 1214 % ; TFP : 416 % 411 % 410 % 211 % 213 %,,,,1996 2002, 1995 1997, 1997,, 1998,, ( ) (FTP),,,, t,1995 2002, 37 14 1998 1998 910 1999 1213 2000 1513 2001 1819 2002 2216 (FTP),1996 2002 : 2613 2414 2310 2217 2115 : 2185 214 114 0198 0117?,,,?, t,,, WTO,,,, :,,,,,,,, 37,,, 10
2005 3, WTO,, 1995 1000 2002 2935, 1995 936 2002 2495,, 1995 2002 1995 5 2002 1302, 1233 6135,, 15361 7215, 4008 2138,,,,,,,,,,,, 1996 2002, GDP 8 %,,1995 2002, ( ) (TE) ( gte) ( gte) 37, TE gte TE TE,, TE,1996 2002 TE 31 %, 1996 2002 TE 32 % 32 % 32 % 31 % 30 % 30 % 29 % 1Π3,,1996 2002 TE : 55 % 51 % 46 % 45 % 44 % ; TE : 12 % 15 % 16 % 17 % 18 %, ( ) ( ) TE? TE TE, TE,,,,,,,,,,,,,,,, TE,,,,, 11
:, TE,,,,,,,,, TE, i : TgE i = ^ 3 ^u i, ^ i, ^u i i,, : TgE = TgE i i 3 avalue i Π avalue i i 1996 2002,37 711 1996-614 % 2002-719 %, 37, 017 014 213 215 216 : 1111 1111 1116 1211 15,,,?,,,,,, ( ) (AE),,,,,,, 37,, 1996 2002 0114 1996 2002 0115 0134 0105 0126 12
2005 3 0116-0114 0115,1996 2002, 4144 3197 3106 21063 1199, 1152 1175 1187 2123 2138,??,, ( ),,,,,,,,,,,,, ( ) (RTS) (SE),,, (RTS) ( k, l ) 1,,,, 37 01903 37, 1142 ; 1, 11033, ( ), 1 1, 01739 01731 01715 01708 01657,,,, 1 :, RTS = 1, 1 RTS 1,, RTS 1,,1996 2002 : 1107 0159 0157 0146 0139 ; : 2102 2106 2160 3135 3153, 0133, 13
: 1996 2002 : - 0158-0163 - 0107-0104 0106-0153 - 0152,,,,, 1995 2002 : ( ) TFP 618 %, ; ( ) 14 ; ( ) 7 ; ( ) 0133 ; ( ) 0102 TFP 4 % 1996 2002 :, TFP ( FTP) ( TgE) (AE) (SE) TFP 618 % FTP, 2 1996 2002 ( : 1996 2002 TFP 618 % ),,,,,,,,,,,2004 :?,,, 15 ( 431 ),2001 :, 10 14
2005 3,1998 :, 12 Aigner, D. J., C. A. K. Lovell, and P. Schmi,1997, Formulation and Estimation of Stochastic Frontier Production Function Models. Journal of Econometrics, 6 :1, July, 21 37. Kumbhakar, S. C. and C. A. K. Lovell, (2000), Stochastic Frontier Analysis. Cambridge : Cambridge University Press. Kumbhakar, S. C. (2000), Estimation and decomposition of productivity change when production is not efficient :a panel data approach. Econometric Review, 19, 425 460. Kaliraan, K. P., M. B. Obwona and S. Zhao. (1996), A Decompositon of Total Factor Productivity Growth : The Case of Chinese Agricultural Growth Before and After Reforms. American Journal of Agricultural Economics, 78,331 338. Jondrow, James, C. A. K. Lovell, I. S. Materov, P. Schmi. (1982), On the Estimation of Technical Inefficiency in the Stochastic Frontier Production Function Model. Journal of Econometrics, 19, 23 :8, 233 239. Meeusenm, W., and J. van den Broeck. (1977), Efficiency Estimation from Cobb2Douglas Producton Functions with Composed Error. International Economic Reviews, 18 :2, 435 44. Nishimizu, M. and J. M. Page. ( 1982), Total Factor Productivity Growth, Technical Progress and Technical Efficiency Change : Dimensions of Productivity Change in Yugoslavia, 1965 78. The Economic Journal, 92, 929 936. Kim, Sangho and Gwangho Han. (2001), A decomposition of total factor productivity growth in Korean manufacturing industry. Journal of Productivity Analysis, 16, 3, p269. Kim, Sangho. Economic Policy, 21, 1, p132. ( 2003), Identifying and estimating sources of technical inefficiency in Korean manufacturing industry. Contemporary Wei, Zuobao, Oscar Varela, M. Kabir Hassan. (2002), Ownership and performance in Chinese manufacturing industry. Journal of Multinational Financial Management, 12, p61 78. Wu, Yanrui. (2000), Is China s economic growth sustainable? Productivity analysis. China Economic Review, 11, p278 296. China s Industrial Productivity Revolution A Stochastic Frontier Production Function Analysis of TFP Growth in China s Large and Medium Industrial Enterprises Zhengge Tu, Huazhong University of Science & Technology ; Geng Xiao, The University of Hong Kong Abstract :Using the stochastic frontier production function analysis and a firm2level panel data collected by the National Bureau of Statistics of China, this paper examines the total factor productivity growth of China s large and medium - sized industrial enterprises sector during 1995 2002. The maor findings include : (1) The weighted average of the annual growth of TFP in China s large and medium industrial enterprises sector was as high as 618 % with a rising trend during 1996 2002 ; (2) The contribution to TFP growth by Frontier Technology Progress reached as much as 14 percentage points a year on average ; (3) The decline in Technical Efficiency (Relative to the Frontier) reduced the growth of TFP by 711 percentage points a year on average ; (4) Allocative Efficiency contributed on average only 0102 percentage points a year to the growth of TFP and Scale Dis2Economy slowed the growth of TFP by 0133 percentage points a year. The results show that at the turn of the century, the most important part of China s industry was in the middle of an industrial productivity revolution driven by both frontier technological progress and the great potential of catching up in technical efficiency by the lagging enterprises. competition, privatization, foreign investment, and business expansion. The revolution is driven by increased Key Words : Total Factor Productivity, Frontier Technology Progress, Technical Efficiency, Scale Economy, Allocative Efficiency ; JEL Classification :D240, C230, O470, L600 ( : ) ( : ) 15