This paper provides new estimates of capital inputs in the Chinese
economy. Estimates are made for the total economy (1953-2003), for the
industrial sector (1978-2003) and for the manufacturing sector
(1985-2003). The estimates for industry and manufacturing are broken
down by thirty regions. The main contribution of this paperlies in
constructing hitherto unvailable estimates of capital inputs at the
level of Chinese regions. The paper makes a systematic attempt to apply
SNA concepts to the estimation of Chinese capital inputs, according to
the Perpetual Inventory Method. It makes a clear distinction between
capital services and wealth capital stocks. After a general discussion
of theoretical issues in capital measurement, the paper provides a
detailed analysis of the relevant Chinese statistical concepts and data.
It goes on to discuss previous capital estimates in the light of the
modern conceptual and theoretical discussions. It ends with an
explanation of the procedures followed in constructing the national and
regional capital input series.
Key words: Capital Inputs, Capital Services, Regions, China, Industry, Manufacturing
JEL Codes: O47 (Measurement of Economic Growth), R11 (Regional Economic Activity).
UNU-MERIT Working Papers ISSN 1871-9872