Abstract:
Efficiency change is to rely on the improvement of total factor productivity to achieve overall output efficiency of the economic system.From the macro aspect, efficiency change is to improve the efficiency of the allocation of factors of production and industrial productivity.From the micro aspect, efficiency change is to improve enterprise technology progress, technical efficiency and scale efficiency.This paper analyzes the characteristics of China’s economic growth from three indicators: labor productivity growth rate, material capital productivity growth rate and total factor productivity growth rate.It holds that the decline of China’s economic growth rate caused by the decline of three indicators is the main feature of the current economy.It concludes with five main factors affecting the improvement of China’s total factor productivity：factor allocation, industrial structure, opening to the outside world, R&D investment, education and human capital.According to that, the paper puts forward the paths to improve the total factor productivity in the New Era: Achieve the upgrading of industrial structure by the market on the allocation of factors; Deepen enterprise reform and improve the technical efficiency and scale efficiency of production factors ; Open to the outside world completely and exert subsequent advantage; Increase R&D investment and improve the level of technological innovation; Improve education level and human capital quality; Establish the total factor productivity as the core of the government performance appraisal system.
