Seminar Vol. 177

Title: New Growth Accounting

Speaker: Lei Gong, Zhejiang University

Time: September 20th, 2019  15:00-16:15

Venue: Conference Room 106B, IESR, Zhonghui Building (College of Economics)

About the speaker:

Dr. Gong is now working at the School of Public Affairs and China Academy of Rural Development (CARD), Zhejiang University. His research interests include Productivity and Economic Growth, Development Economics, Agricultural Economics, Energy Economics, Applied Econometrics, and Empirical IO. Dr. Gong’s papers have been published in many academic journals, including JDE and AJAE. Before joining ZJU, Dr. Gong studied and worked in Michigan State University, Rice University, Brown University, Innovation for Poverty Action, Weatherford International, and Baker Institute for Public Policy.

Abstract:

This article opens the black box of total factor productivity by decomposing this “all-in-one” index into various input-embedded and input-free productivities in a new growth accounting framework. The new method identifies different channels through which growth drivers affect economic growth and finds the most effective way to boost the economy, which is unidentified in standard method. This new approach uses a varying coefficient stochastic frontier model, which integrates the standpoints of the endogenous growth theory and the induced innovation theory into a reduced-form productivity analysis. The new growth accounting is then applied to study the impacts and contributions of R&D investments, international trade, and structural transformation to world agricultural growth during the period of 1962–2014.