Capital Stock Estimates by Region and Sector

Energy efficiency and production technology heterogeneity in China's agricultural sector: A meta-frontier approach

“…We choose four variables in this study: agricultural capital stock, agricultural labor force, energy consumption and agricultural output. CAPi,t − 1 is the agricultural capital stock in year t − 1 and Z i is the fixed asset depreciation rate and is assigned a value of 1.6% as described in Wu (2009). (3) Agricultural energy consumption.…”

Analyzing inter-factor substitution and technical progress in the Chinese agricultural sector

“…The current study of capital stock is mainly concentrated on the accounting of the social capital stock (He, 1992;Ren and Liu, 1997;Wang and Fan, 2000;Huang et al, 2002;He et al, 2003;Li and Tang, 2003;Zhang et al, 2004;Xue and Wang, 2007;Shan, 2008;Ye, 2010), and literatures specifically on estimation of department capital stock are still relatively fewer. Particularly for the agricultural sector, there are still very few related literatures in China (Wu, 1999;Fan et al, 2002;Zhang and Zhang, 2003;Zhao, 2004;Wang, 2007;Wu, 2009;Luo, 2013). In this article, in order to construct a capital stock series, we cite agricultural capital stock from China's Capital Stock Series by Region and Sector, 1978-2006(Wu, 2009 and employ the perpetual inventory method to expand the capital stock series (2006-2012) (see Fig.…”

“…Particularly for the agricultural sector, there are still very few related literatures in China (Wu, 1999;Fan et al, 2002;Zhang and Zhang, 2003;Zhao, 2004;Wang, 2007;Wu, 2009;Luo, 2013). In this article, in order to construct a capital stock series, we cite agricultural capital stock from China's Capital Stock Series by Region and Sector, 1978-2006(Wu, 2009 and employ the perpetual inventory method to expand the capital stock series (2006-2012) (see Fig. 2).…”

The impact of human and physical capital accumulation on Chinese growth after 1994: A spatial econometric approach

“…Secondly, I aim to assess the impact on growth of physical capital accumulation by disaggregating into secondary and tertiary sectors of the economy (such a subdivision was not present in the most recent studies such as, e.g., Bai et al (2012), Ouyang & Fu (2012)), to verify whether there is a gap in the spillover effects originating from the two sectors. To compute estimates for physical capital, I use one of the most recent methodologies, which was developed by Wu (2009). This approach, which computes different capital estimates for each of the three sectors in China, also allows for different depreciation rates for each sector, thus overcoming the issue in the existing literature of assuming ad hoc rates of depreciation (see, e.g., Chow & Li (2002), Peng & Hong 3 Specifically, under a production-type VAT regime, investments and capital depreciation cannot be deduced from the value added, so that fixed assets and associated expenditures are taxed many times.…”