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Fixed Capital and Wage-Profit Curves à la von Neumann-Leontief: China’s Economy 1987–2000

This article is a part of the outcome of research performed under the Waseda University Grant for Special Research Projects (Project number: 2012A-809).

Research in Political Economy

ISBN: 978-1-78441-007-0, eISBN: 978-1-78441-006-3

ISSN: 0161-7230

Publication date: 29 October 2014

Abstract

This chapter aims at making clear growth and distribution of China’s economy 1987–2000 with fixed capital on the input-output table basis. Since fixed capital data are not sufficiently available, one has to estimate fixed capital coefficients. In the outset, this chapter outlines the Sraffa–Fujimori method, which simulates the maximum growth path and estimates the marginal fixed capital coefficients on that path. In the second place, the marginal fixed capital coefficients of China’s economy are estimated. In the third place, the wage-profit curves of China’s economy will be drawn, and we discuss some further features obtained by our observations.

Keywords

Acknowledgements

Acknowledgment

An earlier draft of this chapter was presented at the International Seminar, Meiji University on January 21, 2012. The author expresses thanks to Professor Y. Fujimori (Waseda University), Professor C. Bidard (Université de Paris X-Nanterre), and Professor T. Yagi (Meiji University) for their helpful comments on the draft. The author expresses thanks to Professor Paul Zarembka (State University of New York at Buffalo) and two anonymous referees of this book series for their helpful comments. Remaining errors are mine.

Citation

Li, B. (2014), "Fixed Capital and Wage-Profit Curves à la von Neumann-Leontief: China’s Economy 1987–2000

This article is a part of the outcome of research performed under the Waseda University Grant for Special Research Projects (Project number: 2012A-809).

", Research in Political Economy (Research in Political Economy, Vol. 29), Emerald Group Publishing Limited, Bingley, pp. 75-93. https://doi.org/10.1108/S0161-723020140000029003

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Emerald Group Publishing Limited

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