Re-evaluation of China’s Total Factor Productivity and Resource Misallocation: Considering Firm Heterogeneity（2020_3_60_005）
Measuring total factor productivity and resource misallocation is critical in understanding the performance of China’s economy, which is becoming increasingly complex and operates on a larger scale. However, in this area, few comprehensive studies have fully incorporated the characteristics of the Chinese economy, including the numerous companies exhibiting heterogeneity (scale, ownership, trade patterns), discriminatory treatment, and deep involvement in the global value chain. This study leverages big data class information, including existing Chinese KLEMS data, Chinese corporate census data, inter-company transaction information and corporate patent data. Further, it uses other data sources with the cooperation of the research teams at Hitotsubashi University and Tsinghua University Institute of National Affairs. Thus, it aims to construct a world-first prototype of a chronological input-output table and ancillary table with corporate heterogeneity information. We use this prototype to completely reconsider total factor productivity and resource misallocation in China from the viewpoint of the value chain.
July 2020 - March 2023
Leader of the Research Project
Papers for Academic Journal