Resource Misallocation in China's Cities:Estimation and Dynamic Evolution
This paper aims to systematically assess and understand the degree of resource misallocation and its dynamic evolution in 285 China's cities during 2004-2019.This paper adopts the convex quantile regression method to measure the degree of misallocation of urban labor,capital and land in China's cities.Random kernel density estimation and club convergence test are then applied to quantify the dynamic evolution and the agglomeration effect of resource misallocation,respectively.Urban labor,capital and land in China's cities are found to exhibit misallocation in the observation period,with capital showing a relatively lower degree of misallocation.Overall,labor misallocation and capital misallocation exhibit a downward trend and an upward trend respectively,while land misallocation slightly fluctuates at a high level.The distribution of resource misallocation in China's cities shows a multi-peak mode and statistically significant club convergence.Combining the classic production function method and the production frontier analysis method,this paper uses the non-parametric convex quantile regression model to estimate the degree of resource misallocation and its dynamic evolution in China's cities.This paper helps understand the status quo of resource allocation in China's cities while acting as a useful guide to deepen the reform of market-oriented allocation of production factors,build a unified large market and achieve high-quality development.
万方数据
维普
