Proceedings of the Fifth International Conference on Economic and Business Management (FEBM 2020)

Empirical Research of China’s Environmentally Adjusted Total Factor Productivity

Authors
Wei Tang, Lili Zhang, Rui Tang
Corresponding Author
Lili Zhang
Available Online 14 December 2020.
DOI
10.2991/aebmr.k.201211.085How to use a DOI?
Keywords
Total factor productivity, environmental factor adjustment, slow growth accounting
Abstract

Total factor productivity is a key indicator for achieving sustainable economic growth and high-quality development in China. Traditional TFP calculations do not include natural resources and environmental pollution into the accounting framework, and the calculated TFP is usually overestimated. This paper calculates the environmentally adjusted total factor productivity (EATFP). The results showed that from 2001 to 2007, the unadjusted TFP growth rate was relatively high, mainly due to the technological progress brought about by China’s institutional reforms such as opening up and joining the WTO. Since 2008, in response to the international financial crisis, China has implemented a four trillion stimulus policy, which has led to a reduction in the efficiency of resource allocation, a low effective investment ratio, and a large decline in total factor productivity growth. The total factor productivity adjusted for environmental factors maintained a low growth rate even during the period 2001-2007 when the reform dividend was continuously released, indicating that China’s economy has always been extensively developed, and the rapid economic growth is at the cost of environmental damage.

Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the Fifth International Conference on Economic and Business Management (FEBM 2020)
Series
Advances in Economics, Business and Management Research
Publication Date
14 December 2020
ISBN
978-94-6239-296-0
ISSN
2352-5428
DOI
10.2991/aebmr.k.201211.085How to use a DOI?
Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Wei Tang
AU  - Lili Zhang
AU  - Rui Tang
PY  - 2020
DA  - 2020/12/14
TI  - Empirical Research of China’s Environmentally Adjusted Total Factor Productivity
BT  - Proceedings of the Fifth International Conference on Economic and Business Management (FEBM 2020)
PB  - Atlantis Press
SP  - 505
EP  - 509
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.201211.085
DO  - 10.2991/aebmr.k.201211.085
ID  - Tang2020
ER  -