Proceedings of the 2018 2nd International Conference on Management, Education and Social Science (ICMESS 2018)

Capital Deepening, Capacity Utilization and New Drivers of China's Economic Growth

Authors
Zhili Ren, Shuoxing Zheng
Corresponding author
Zhili Ren
Keywords
Time-varying Elasticity; Production Function; Output Elasticity; Capacity Utilization; New Drivers
Abstract
According to the production function method, this paper builds a time-varying elasticity production function and use the state space model to estimate the dynamic output elasticity of the get inputs where the capital output elastic shows a downward trend year by year. What is more, in accordance with the declining capacity utilization and phenomenon of excess production capacity, this paper analyses the reason for the capital output elastic decline year by year, and actively cultivates new economic growth momentum and the new growth point to provide high quality of economic growth.
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