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臺灣翻譯公司關(guān)鍵字：Third, from 1977 to 2002, the capital - output ratio volatility decreases, the average value reached 3.480, seems to show a slight downward trend, but we conducted a regression analysis and testing, found that this decline does not have a statistically significant, so that in a relatively unchanged.
(C) the marginal product of capital analysis for the calculation of the marginal product of capital is a very complex thing. The reason is the lack of information, accounting inconsistencies. In this paper, the data used here are based on calendar year, "China Statistical Yearbook," "Fifty years of New China Statistics", and refer to Chen Kunrong (1999) result, China's GDP (GDP unit: million), capital stock ( K Unit: million) and labor stock (L unit: million).
To calculate the marginal product of capital, this mathematical method of labor control variables (which control is a virtual control) called the "Method 1." To calculate the change in the labor case, from 1952 to 2002 the labor force each year, excluding factors beyond the amount of net output, and the net amount of capital. And then calculate the net output growth each year the amount, the annual amount of net capital growth. Then divided by annual net output growth in the amount of net capital growth to be 50 years from 1952 to 2002 in the marginal product of capital each year.
In order to ensure the reliability of calculations, this paper also used another method to calculate the marginal product of capital: in the production function assumes constant returns to scale (Robert J. Barro, Javier Sa bit Yima Ding 1995), called "Method 2."
Constant returns to scale condition means that output can be written as:We can see from Figure 2, the two methods is consistent with the results obtained, that since the founding of New China, the marginal product of capital is almost the same trend, although the trend curve from the point of view a slight upward trend, but with marginal product of capital and time to regression analysis, not to overthrow the argument is constant on the assumption that marginal product of capital does not increase significantly with time. We use "Method 2" to calculate the 1952 to 2002 the average marginal product of capital is 0.289255. That each additional unit of investment can bring 0.289255 units of the "net" output.
Marginal product of capital unchanged Description: First, China's neo-classical economic production function model does not meet the basic conditions (conditions of diminishing marginal product), so that China's economic growth model can not be neo-classical form; Second, China's economy plenty of room for growth rate, if the same situation in the labor force, still the same with the previous average growth rate; Third, other resources have not yet been fully utilized, does not exist between capital and labor substitutes; its Fourth, is the most important, shows that China's economic growth is capital investment driven.
(D) trends in China's labor and marginal product of laborChina is the world's most populous country, to the end of 2002 the total population reached 128,453 people, the employment population of 73,740 people. More than 715 million end of 2001, employment growth in population. Such a large labor force, the current does not reach full employment, the latest data show that 14 million urban workers waiting for employment, there are 150 million rural surplus labor.
Figure 3 shows the general trend of China's labor force increased exponentially, but 90 years after entering the labor force growth is a slight increase in the linear trend. Such a huge amount of labor, 50% are engaged in agriculture, while the total output of these workers only 15.5% of GDP. Shows low agricultural productivity, China's economic growth was mainly industry.
We calculate the marginal product of capital with the same two methods, calculated between China from 1952 to 2002, the marginal product of labor, the results shown in Figure 4.
hina can be seen from Figure 4 the marginal product of labor showed a slightly decreasing trend year by year, but this trend is not linear hypothesis test was significant. Therefore, it can mean that labor has the same marginal product, the marginal output of about 0.004125 yuan / person-year (at 1990 prices), is a constant quantity.
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