Analysis of southern Jiangsu economic growth factors based on grey production function model

Author

Ning, Xu ; Yaoguo, Dang ; Yuting, Shi

Author_Institution

Coll. of Econ. & Manage., Nanjing Univ. of Aeronaut. & Astronaut., Nanjing, China

fYear

2009

fDate

10-12 Nov. 2009

Firstpage

938

Lastpage

941

Abstract

Since traditional Cobb-Douglas production function cannot be supposed to great fluctuant data, this paper uses grey system GM(1,1) model to pre-deal with the raw data and establish grey production function model (model G-C-D) based on the GM(1,1) simulated sequences. This model is used to empirically analyze the role and its change of contribution factors (labor force, investment, technology progress) of Southern Jiangsu economic development from 2000 to 2007. Result shows clearly that technology progress factor is accounted for 50% above, but with a declining trend. However, capital factor shows obvious ascending trend. Finally, it explains this result and makes suggestions.

Keywords

economics; grey systems; Cobb-Douglas production function; Southern Jiangsu economic growth factors; grey production function model; investment; labor force; technology progress; Analytical models; Econometrics; Fluctuations; Impurities; Intelligent systems; Investments; Linear regression; Linearity; Parameter estimation; Production systems;

fLanguage

English

Publisher

ieee

Conference_Titel

Grey Systems and Intelligent Services, 2009. GSIS 2009. IEEE International Conference on

Conference_Location

Nanjing

Print_ISBN

978-1-4244-4914-9

Electronic_ISBN

978-1-4244-4916-3

Type

conf

DOI

10.1109/GSIS.2009.5408036

Filename

5408036