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Research Article
 

Re-estimation the Contribution Rate of Technological Progress to Economic Growth Accounting for Energy Consumption Factors Based on Time Series Data of China (1991-2011)



Hu Junyan and Gao Zijun
 
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ABSTRACT

A lot of studies on technological progress ignore energy consumption in economic growth, so technological progress is overrated. Based on Tinbergen’s improved Cobb-Douglas production function and Solow Economic Growth Model, this study uses China’s 1991-2011 time series data to estimate the contribution rate of technological progress to economic growth and compare with the rate when energy consumption is taken into account. The results show that contribution rate of energy consumption to economic growth has an upward trend, so it must take energy consumption into account in order to reflect the real contribution rate of technological progress to economic growth the upward trend on contribution rate of technological progress to economic growth changes gently after accounting for energy consumption. The above findings illustrate China’s recent economic growth relies more on energy consumption and it’s urgent for Chinese economy to transform from “extensive growth” to “intensive development”.

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  How to cite this article:

Hu Junyan and Gao Zijun, 2013. Re-estimation the Contribution Rate of Technological Progress to Economic Growth Accounting for Energy Consumption Factors Based on Time Series Data of China (1991-2011). Journal of Applied Sciences, 13: 2346-2350.

DOI: 10.3923/jas.2013.2346.2350

URL: https://scialert.net/abstract/?doi=jas.2013.2346.2350
 

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