Abstract
Total factor productivity is not only the core of high-quality economic development but also a core indicator for measuring the quality of economic development. Improving total factor productivity is one of the most critical points in building a modern economic system. Firstly, this paper uses the DEA-Malmquist index method to measure and decompose the total factor productivity of China’s 30 provinces, municipalities, and autonomous regions from 2001 to 2017 and analyzes the characteristics of its temporal and spatial changes. From a spatial perspective, the regional gap is relatively large. Secondly, we construct the index system of five dimensions and use this index system to comprehensively evaluate the improvement degree of China’s modernized economic system. The results show that the overall level of the improvement degree of China’s modernized economic system is relatively low, and the differences between provinces are great. Thirdly, this paper uses static and dynamic spatial econometric models to empirically analyze the effect of total factor productivity on the improvement degree of the modern economic system. The results show that the improvement degree of the modern economic system in China has obvious characteristics of time spillover and space spillover. Finally, we put forward countermeasures and suggestions on how to perfect the modern economic system.
Highlights
Building a modern economic system is a major strategic goal and task facing our country’s economy after it has entered an era of high-quality development from the era of rapid growth.e report of the 19th National Congress of the Communist Party of China clearly pointed out that our country’s economy is in a critical period of transition from old to new growth momentum
Productivity increased by an average of 0.06%; the third cycle was formed during the five years from 2007 to 2011, during which total factor productivity fell by an average of 0.27%; the fourth cycle was formed during the seven years from 2011 to 2017, during which the entire period factor productivity dropped by 0.26% on average
Hebei Jilin Guizhou Sichuan Ningxia Gansu Qinghai Neimeng Yunnan Guangxi Xijiang Huadong Huabei Huanan Huazhong Dongbei Xinan Xibei Quanguo productivity on the improvement of the modern economic system? In order to solve this problem, this section first describes the relationship between the modern economic system and total factor productivity and studies the influence of total factor productivity on the modern economic system by using the traditional static spatial econometric model and the dynamic spatial panel regression model which can investigate the dynamic characteristics
Summary
Building a modern economic system is a major strategic goal and task facing our country’s economy after it has entered an era of high-quality development from the era of rapid growth. Zou made a theoretical elaboration on the specific ideas of building a modernized economic system from five aspects, that is, insisting on innovation-driven development, improving total factor productivity, improving the quality of the supply system, establishing a new pattern of all-round opening up, and implementing the concept of green development to achieve higher-quality development [24]. E innovations’ study in this article is as follows: first, on the basis of constructing the indicator system of the modern economic system, through theoretical and empirical analysis of how the modern economic system and total factor productivity promote high-quality economic development. Table 1: 2001–2017 national average total factor productivity index and its decomposition
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