The Efficiency Evaluation of China’s Economic Development Under the New Normal

TFP is an important tool for analyzing the dynamics of economic growth (Guo and Jia, 2005) and a key indicator for evaluating the efficiency of economic development. In recent years, the TFP of China’s economic developed has received significant academic attention, with a specific focus on exploring the efficiency of factor inputs and productivity improvements in driving economic growth (Wang 2000; Yi et al. 2003; Cai 2013). This book measures the efficiency of China’s economic development through a data envelopment analysis (DEA), a stochastic frontier analysis, (SFA) and a principal component analysis (PCA). Moreover, we decompose the contribution of capital, labor, and productivity improvements to China’s economic growth based on (Solow in Rev Econ Stat 393, 1957) residual value method for analyzing the sources of dynamic for China’s economic development under the New Normal.