| Item type |
アジ研テクニカルレポート / IDE Technical Report(1) |
| 公開日 |
2025-03-11 |
| タイトル |
|
|
タイトル |
The paradox of productivity and welfare: The role of institutional markdown |
|
言語 |
en |
| 言語 |
|
|
言語 |
eng |
| キーワード |
|
|
主題Scheme |
Other |
|
主題 |
China |
| キーワード |
|
|
主題Scheme |
Other |
|
主題 |
Econometric model |
| キーワード |
|
|
主題Scheme |
Other |
|
主題 |
Social welfare |
| キーワード |
|
|
主題Scheme |
Other |
|
主題 |
Economic growth |
| キーワード |
|
|
主題Scheme |
Other |
|
主題 |
Institutional markdown |
| キーワード |
|
|
主題Scheme |
Other |
|
主題 |
Reallocation |
| キーワード |
|
|
主題Scheme |
Other |
|
主題 |
Productivity growth |
| キーワード |
|
|
主題Scheme |
Other |
|
主題 |
Welfare |
| キーワード |
|
|
主題Scheme |
Other |
|
主題 |
Flying geese |
| 資源タイプ |
|
|
資源タイプ識別子 |
http://purl.org/coar/resource_type/c_18gh |
|
資源タイプ |
technical report |
| ID登録 |
|
|
ID登録 |
10.20561/0002001297 |
|
ID登録タイプ |
JaLC |
| 著者 |
程,文銀
孟,渤
Yuan,Tangjun
|
| item_14_description_3 |
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|
内容記述タイプ |
Abstract |
|
内容記述 |
The connection between total factor productivity (TFP) growth and overall welfare has traditionally been regarded as positive. However, limited attention has been given to the fact that certain components of TFP growth may, in fact, have a detrimental impact on welfare. By incorporating markdowns into the decomposition model of revenue-based TFP growth, we identify three key components: the markdown effect, which captures the deviation of sectoral average markdown from unity; the reallocation effect, which reflects variations in markdowns across firms; and the technical effect, which represents physical TFP. Using firm-level data from China from 2000 to 2007, we derive several empirical insights. First, the markdown on labor has been decreasing, but this trend came to a halt after 2004—primarily due to a reduction in institutional power, rather than shifts in market power or the effects of the Lewis turning point. Second, markdowns contribute to approximately one-third of TFP growth, surpassing the impact of the reallocation effect in 2007. Additionally, the welfare loss due to markdowns accounted for 5.65% of total value added in 2007. Finally, using the reallocation effect as a reference, we assess the potential for a domestic Flying Geese pattern across regions. This study advances the theoretical discourse on markdowns and their implications for the productivity-welfare relationship, shedding new light on the complex interactions between distortions, firm dynamics, and economic welfare. |
|
言語 |
en |
| item_14_rights_5 |
|
|
言語 |
en |
|
権利情報 |
Copyrights 2025 by author(s) |
| bibliographic_information |
en : IDE Discussion Paper
巻 959,
発行日 2025-02
|
| 出版者 |
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|
出版者 |
Institute of Developing Economies (IDE-JETRO) |
| 出版タイプ |
|
|
出版タイプ |
VoR |
|
出版タイプResource |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
| JEL分類 |
|
|
主題Scheme |
Other |
|
主題 |
JEL:F14 - Empirical Studies of Trade |
| JEL分類 |
|
|
主題Scheme |
Other |
|
主題 |
JEL:L52 - Industrial Policy • Sectoral Planning Methods |
| JEL分類 |
|
|
主題Scheme |
Other |
|
主題 |
JEL:R15 - Econometric and Input–Output Models • Other Models |
| 地域/国名 |
|
|
|
位置情報（自由記述） |
China |
| フォーマット |
|
|
内容記述タイプ |
Other |
|
内容記述 |
application/pdf |
|
言語 |
en |
| item_14_description_23 |
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|
内容記述タイプ |
Other |
|
内容記述 |
IDP000959_001 |
Full-text PDF (562.8 KB)
