Estimating China’s agricultural capital stock from 1952 to 2012

• Dong, Qi ^[1] ; Murakami, T. ^[1] ; Nakashima, Y. ^[1]
  1. [1] University of Tokyo

     University of Tokyo

     Japón

     
• Localización: Estudios Economicos Regionales y Sectoriales : EERS: Regional and sectoral economic studies : RSES, ISSN 1578-4460, Vol. 18, Nº. 2, 2018, págs. 53-70
• Idioma: inglés
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• Resumen

  • In this paper, we attempt to estimate China’s agricultural capital stock from 1952 to 2012 using the perpetual inventory method (PIM). We then compare between four measurements of agricultural capital stock in China: our estimated agricultural capital stock via PIM, the total power of farm machinery, draft animals used in the agricultural sector, and agricultural tractors used in the sector. Estimating the agricultural production function and calculating the contribution of capital accumulation to agricultural output growth using these measurements of agricultural capital stock demonstrate that our agricultural capital stock estimation provides a better index with which to represent actual agricultural capital stock levels in China