An Empirical Study on the Effect of China's Institutional Structure on Economic Efficiency

Abstract

Abstract:

In recent years, the system reform has widely attracted economic researchers' attention, especially its effects on economic transformation and upgrading. Based on China's basic institutional structure of "economic decentralization and political centralization", this paper applies both fiscal decentralization and promotion tournament into the stochastic frontier empirical model based on the C-D production function, completely analyzes the impact of this unique China institution design on the technical efficiency of economic development by using provincial panel data from 1985 to 2010. This study finds that:the economic growth efficiency is at a medium level and significantly different between regions, the economic growth efficiency of eastern, central and western China tends decreasing from east to west; China's economic growth is based mainly on capital-drivers, and the contribution of labor input is lower; both fiscal decentralization and promotion tournament have a significant positive role in promoting economic growth efficiency which mean the institutional design of "economic decentralization and political centralization" is an effective governance model. Finally, this paper puts forward some suggestions to system reform and "top-level design".

Key words: economic decentralization, political centralization, technical efficiency, stochastic frontier model

Zhu Hao, Fu Qiang, Wei Qi. An Empirical Study on the Effect of China's Institutional Structure on Economic Efficiency[J]. , 2015, 27(11): 11-20.

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