Chinese Economy Booming with Increased Productivity Growth Across Sectors!
The article estimates productivity growth in different sectors of the Chinese economy by using a measure called Total Labor Productivity (TLP). TLP considers multiple factors like labor, equipment, and materials, unlike other measures like Total Factor Productivity (TFP). The researchers measured productivity increases in two periods (1987-1992 and 1992-1997) and compared the results with TFP. They found that productivity in China has indeed been increasing during these periods.