Green total factor productivity mismeasurement without considering intangibles: Evidence from China

Qing Li, Kexing Yu and Yanrui Wu
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Qing Li: Department of Economics and Finance, SILC Business School, Shanghai University
Kexing Yu: Department of Economics and Finance, SILC Business School, Shanghai University
Yanrui Wu: Business School, The University of Western Australia, http://www.web.uwa.edu.au/person/yanrui.wu

No 23-13, Economics Discussion / Working Papers from The University of Western Australia, Department of Economics

Abstract: This paper aims to re-estimate green total factor productivity (GTFP) with the consideration of intangible capital in Chinese provinces during 2003 and 2017. Intangible capital is broadly defined and categorised into computerised information, innovative property and economic competency property. The finding suggests that the conventional GTFP is underestimated especially during the post-financial crisis period in China. It is also found that technical efficiency, which shows the trend of deterioration without capitalising intangibles, improves steadily and jointly with technological progress contributes to the improvement of productivity. The mismeasurement of GTFP is more severe in developed regions in China where intangible investment is more emphasised. Furthermore, regional GTFP shows the trend of convergence after intangible capital is incorporated and the rate of convergence turns to be faster in coastal regions than that in the interior.

Keywords: Green total factor productivity; intangible capital; data envelopment analysis; China (search for similar items in EconPapers)
JEL-codes: O34 O47 R11 (search for similar items in EconPapers)
Pages: 44
Date: 2023
New Economics Papers: this item is included in nep-acc, nep-cna, nep-eff, nep-ene and nep-env
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