Accumulation Rate,Reproduction Structure and Economic Growth——Empirical Research Based on Urban Data in China
The net output growth measured by value depends on the level of accumulation rate in society,the structure of additional capital,and the distribution structure of net output increment.Economic growth is a function of social surplus and reproduction structure.This article uses data from four municipalities directly under the central government and 283 prefecture-level cities(including provincial capitals)in China from 1998 to 2019 to empirically verify this conclusion.The research results show that the accumulation rate,additional capital structure,and labor share have a significant impact on China's economic growth,and this impact has significant heterogeneity between provincial capital cities and non-provincial capital cities,as well as between southern and northern cities.In the context of comprehensively building a socialist modernized country in our country,maintaining an appropriate economic growth rate is the foundation for maintaining social stability and achieving development goals.With the continuous increasing in capital intensity,the adjustment of the dual economic structure,the changes in demographic structure,and the construction of an innovative country in China,the decreasing in the proportion of variable capital in capital and the continuous increasing in labor income will have a restraining effect on economic growth.Therefore,the ideal growth rate should be achieved by maintaining a high accumulation rate,adjusting investment direction,and continuously improving labor productivity.
net output growthaccumulation ratethe proportion of additional variable capitallabor share
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