Productivity Under the New Normal: Latest Estimates and Interpretations of China’s Total Factor Productivity

  • Harry X. WuEmail author
Part of the Research Series on the Chinese Dream and China’s Development Path book series (RSCDCDP)


I shall begin this discussion on the productivity of the Chinese economy with what is called the “new normal.” Almost overnight, everyone is talking about the new normal, and some economists have even jokingly suggested that it be taken as an economics course in universities.


  1. Cai, F. (2010). Demographic transition, demographic Dividend, and Lewis turning point in China. China Economic Journal, 3(2), 107–119.CrossRefGoogle Scholar
  2. Denison, E. F. (1962). The sources of economic growth in the United States and the alternative before US. New York: Committee on Economic Development.Google Scholar
  3. Domar, E. D. (1961). On the measurement of technological change. The Economic Journal, 71(284), 709–729.CrossRefGoogle Scholar
  4. Griliches, Z. (1960). Measuring inputs in agriculture: A critical survey. Journal of Farm Economics, 40(5), 1398–1427.Google Scholar
  5. Huang, Y., & Tao, K. (2010). Factor market distortion and the current account surplus in China. Asian Economic Papers, 9(3), 1–36.CrossRefGoogle Scholar
  6. Hulten, C. R. (1978). Growth accounting with intermediate inputs. Review of Economic Studies, 45(3), 511–518.CrossRefGoogle Scholar
  7. Jorgenson, D. W. (1966). The embodiment hypothesis. Journal of Political Economy, 74(1), 1–17.CrossRefGoogle Scholar
  8. Jorgenson, D. W. (1990). Productivity and economic growth. In E. R. Berndt & J. E. Triplett (Eds.), Fifty Years of Economic Measurement: The Jubilee of the Conference on Research in Income and Wealth (Vol. 54). National Bureau of Economic Research.Google Scholar
  9. Jorgenson, D. W. (2001). Information technology and the US economy. American Economic Review, 91(1), 1–32.CrossRefGoogle Scholar
  10. Jorgenson, D. W., & Griliches, Z. (1967). The explanation of productivity change. Review of Economic Studies, 34(3), 249–283.CrossRefGoogle Scholar
  11. Jorgenson, D. W., Ho, M. S., & Stiroh, K. J. (2005). Information technology and the American growth resurgence. In Productivity (Vol. 3). Cambridge, MA: MIT Press.Google Scholar
  12. Li, H., & Zhou, L. (2005). Political turnover and economic performance: The incentive role of personnel control in China. Journal of Public Economics, 89(9–10), 1743–1762.CrossRefGoogle Scholar
  13. Maddison, A., & Wu, H. X. (2008). Measuring China’s economic performance. World Economics, 9(2), 13–44.Google Scholar
  14. Milana, C., & Wu, H. X. (2013). China’s Productivity performance in the government-engineered growth: A ‘true’ index number approach. Presented at the IARIW-UNSW Conference on Productivity: Measurement, Drivers, and Trends. Sydney, Australia, November 26–27.Google Scholar
  15. O’Mahony, M., & Marcel, P. T. (2009). Output, input, and productivity measures at the industry level: The EU KLEMS database. The Economic Journal, 119(June), 374–403.CrossRefGoogle Scholar
  16. Solow, R. M. (1957). Technical change and the aggregate production function. Review of Economics and Statistics, 39(3), 312–320.CrossRefGoogle Scholar
  17. van Ark, B., O’Mahony, M., & Timmer, M. P. (2008). The productivity gap between Europe and the US: Trends and causes. Journal of Economic Perspectives, 22(1), 25–44.CrossRefGoogle Scholar
  18. Wu, H. X. (2014a). On China’s strategic move for the new stage of development: A productivity perspective. Presented at the Third World KLEMS Conference. Tokyo, Japan, May 19–20.Google Scholar
  19. Wu, H. X. (2014b). China’s Growth and Productivity Performance Debate Revisited: Accounting for China’s Sources of Growth in 1949–2012. In The Conference Board Economics Working Papers, EPWP1401.Google Scholar
  20. Wu, H. X. (2015). Constructing China’s Net Capital Stock and Measuring Capital Service in China, 1980–2010. RIETI Discussion Papers, 15-E-006. (
  21. Wu, H. X., & Yue, X. (2012). Accounting for Labor Input in Chinese Industry, 1949–2009. RIETI Discussion Papers, 12-E-065. (
  22. Wu, H. X., Yue, X., & Zhang, G. (2015). Constructing Annual Employment and Compensation Matrices and Measuring Labor Input in China. RIETI Discussion Papers, 15-E-005. (
  23. Wu, J. L. (2008). The choice of China’s growth model. Shanghai: Shanghai Far East Publishers.Google Scholar

Copyright information

© Social Sciences Academic Press and Springer Nature Singapore Pte Ltd. 2020

Authors and Affiliations

  1. 1.Institute of Economic ResearchHitotsubashi UniversityKunitachiJapan

Personalised recommendations