The Power, Potential and Friction of Input Elements of Economic Growth in China

The Power, Potential and Friction of Input Elements of Economic Growth in China


Author:Tian Ping,Zhang Yishan Journal:[Working Paper]  Date:2016(9)

Keywords the power of economic growth, maximum accumulative capital stock, elasticity coeffi⁃ cient of labor element, C-D production function

Abstract

Different input elements should have different principles of use. The so- called studyabout the power and potential of input elements in current China is the research about how to full play the potential level of the labor factor, and when the capital accumulation will no longer in⁃ crease, under the premise of relatively stable or even less energy and raw material elements using. It is proved that the labor and capital factors still have the potential to exert the effect of dividend, based on the results of the marginal output under the two economic theory and the characteristics of the capital accumulation path. While the transfer of surplus labor is in the final dividend effect, and relying on the accumulation of fixed capital can still maintain our new normal growth rate of economic growth about 8 years. Clarifying the conditions and friction when exert the surplus power potentialof labor and capital factors can help make full use of the bonus effect of these two and achieve a smoo

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