In this paper,we performed an empirical study on the TFP effect of structural transformation based on panel data of economic growth in 169 countries across the world.Our findings are threefold:First,structural transfo...In this paper,we performed an empirical study on the TFP effect of structural transformation based on panel data of economic growth in 169 countries across the world.Our findings are threefold:First,structural transformation has an inverted U-shaped effect on TFP.When the degree of structural transformation is on the left side of the inflection point,structural transformation is conducive to softening industrial structure and inducing TFP;when the degree of structural transformation is on the right side of the inflection point,structural transformation will induce industrial hollowing out and inhibit TFP.Second,since the reform and opening up program was launched in 1978,China’s structural transformation has evolved from the stage of adaptation to the stage of strategic adjustment with an increasingly evident trend towards a service-based economy,but structural transformation remains on the left side of the inflection point of the inverted U-shaped curve,i.e.the TFP effect of structural transformation is positive.Third,TFP improvement lies at the heart of high-quality development.In pursuing high-quality development,China should lower growth rate expectations,attach greater importance to supply-side structural reforms,and accelerate structural transformation to promote TFP improvement.展开更多
Since reform and opening-up in 1978, the service sector has become the largest industry in China's economy. Compared with developed countries, however, China's service sector, especially modern services, remai...Since reform and opening-up in 1978, the service sector has become the largest industry in China's economy. Compared with developed countries, however, China's service sector, especially modern services, remains rather undeveloped in terms of its aggregate size and internal industrial structure. The underlying reason is that the international OEM model under an export-oriented strategy created both technology spillovers and crowdingout effects on domestic service firms. With the deepening global division of work, such a market crowding-out effect is outweighing the technology spillover effect. This paper suggests that China's service sector must shift towards a domestic consumption-based strategy, utilize domestic and foreign production factors, and promote service sector innovation and development in differentiated monopolistic competition.展开更多
Under the background of China's accelerating high-quality development,whether expanding domestic demand can promote the improvement of the core competitiveness of local enterprises is still lacking support of theo...Under the background of China's accelerating high-quality development,whether expanding domestic demand can promote the improvement of the core competitiveness of local enterprises is still lacking support of theoretical and empirical evidence.Using micro-data at the level of Chinese industrial enterprises,this paper empirically examines the impact mechanism and effect of domestic market demand on the enhancement of local enterprises'core competitiveness.The research shows the following three findings.First,domestic market demand will help local enterprises to increase investment in R&D and design and brand marketing,so as to promote value-added activities to shift from tangible activities in production to intangible activities before and after production,thereby improving their own core competitiveness.Second,further deconstructing market competition factors from the perspective of ownership shows that,driven by domestic market demand,non-state-owned enterprises can enhance their core competitiveness better than state-owned enterprises.Third,China's regional industrial distribution and development have the typical echelon characteristics,which leads to the geographical heterogeneity of the promotion effect of domestic market demand on the local enterprises to enhance their core competitiveness,showing a ladder-type declining trend from the east to the middle and then to the west.These findings provide a useful decision-making reference for better implementation of the strategy of expanding domestic demand under the background of accelerating the construction of a new developmentpattern.展开更多
文摘In this paper,we performed an empirical study on the TFP effect of structural transformation based on panel data of economic growth in 169 countries across the world.Our findings are threefold:First,structural transformation has an inverted U-shaped effect on TFP.When the degree of structural transformation is on the left side of the inflection point,structural transformation is conducive to softening industrial structure and inducing TFP;when the degree of structural transformation is on the right side of the inflection point,structural transformation will induce industrial hollowing out and inhibit TFP.Second,since the reform and opening up program was launched in 1978,China’s structural transformation has evolved from the stage of adaptation to the stage of strategic adjustment with an increasingly evident trend towards a service-based economy,but structural transformation remains on the left side of the inflection point of the inverted U-shaped curve,i.e.the TFP effect of structural transformation is positive.Third,TFP improvement lies at the heart of high-quality development.In pursuing high-quality development,China should lower growth rate expectations,attach greater importance to supply-side structural reforms,and accelerate structural transformation to promote TFP improvement.
文摘Since reform and opening-up in 1978, the service sector has become the largest industry in China's economy. Compared with developed countries, however, China's service sector, especially modern services, remains rather undeveloped in terms of its aggregate size and internal industrial structure. The underlying reason is that the international OEM model under an export-oriented strategy created both technology spillovers and crowdingout effects on domestic service firms. With the deepening global division of work, such a market crowding-out effect is outweighing the technology spillover effect. This paper suggests that China's service sector must shift towards a domestic consumption-based strategy, utilize domestic and foreign production factors, and promote service sector innovation and development in differentiated monopolistic competition.
基金This paper is a phase result of"Capital Formation,Capital Allocation and Adjustment of Industrial Structure"of the National Social Science Fund of China (No.20FGLB002).
文摘Under the background of China's accelerating high-quality development,whether expanding domestic demand can promote the improvement of the core competitiveness of local enterprises is still lacking support of theoretical and empirical evidence.Using micro-data at the level of Chinese industrial enterprises,this paper empirically examines the impact mechanism and effect of domestic market demand on the enhancement of local enterprises'core competitiveness.The research shows the following three findings.First,domestic market demand will help local enterprises to increase investment in R&D and design and brand marketing,so as to promote value-added activities to shift from tangible activities in production to intangible activities before and after production,thereby improving their own core competitiveness.Second,further deconstructing market competition factors from the perspective of ownership shows that,driven by domestic market demand,non-state-owned enterprises can enhance their core competitiveness better than state-owned enterprises.Third,China's regional industrial distribution and development have the typical echelon characteristics,which leads to the geographical heterogeneity of the promotion effect of domestic market demand on the local enterprises to enhance their core competitiveness,showing a ladder-type declining trend from the east to the middle and then to the west.These findings provide a useful decision-making reference for better implementation of the strategy of expanding domestic demand under the background of accelerating the construction of a new developmentpattern.
