Abstract：
Based on productive capital stock data, the paper decomposes the service industry TFP growth into the technical effect in the industry and the structural effect between the industries by reconstructing the TFP growth decomposition model, so as to explore the power source of TFP growth in service industry. The results show that during the period 1985-2016, the overall growth quality of China’s service industry was high. The annual growth rate of capital investment in service industry is 13.24%, the technical effect is gradually replacing the structural effect and becoming the main driving force for TFP growth. From the perspective of sub-sectors, in addition to the relatively high capital investment in real estate and water conservancy industries, other industries have made positive contributions to the growth of service industry TFP, with the “financial and insurance” industry contributing the most. The conclusions show that, further improving the technical level of the service industry and promoting the rational allocation of factor resources in the market is the fundamental way to promote the coordinated development of China’s service industry scale and quality.
CAO Yuequn, YANG Yuling, WEI Xiqian.The Momentum of TFP Growth in China’s Service Industry:Technical Effect or Structure Effect?[J] Economic Survey, 2020,V37(5): 90-98
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