China's Institutional Changes Drive Productivity Growth, Transforming Economic Landscape.
The article explores how changes in total factor productivity (TFP) can be understood through institutions in China. TFP growth represents a costless increase in output due to technological and organizational advancements. By using a method that aligns theory, methodology, and measurement, researchers were able to analyze China's productivity post-reform and link it to institutional factors. The study shows that a consistent approach can help understand how institutions impact productivity in imperfect market systems.