Estimation on agricultural total factor productivity based on improved Mincer wage equation in Henan Province
Journal Title: Journal of Henan Agricultural University - Year 2024, Vol 58, Issue 4
Abstract
[Objective] Based on the change trend of agricultural physical capital stock and human capital stock in Henan Province, this paper calculates the agricultural total factor productivity and analyzes the main factors that promote the growth of agricultural economy in Henan Province. [Method] Considering the influence of age on human capital, the age factor was included in Minser wage equation, and the agricultural human capital stock was estimated by using the improved Minser wage equation in combination with the perpetual inventory method. On this basis, the agricultural total factor productivity of Henan Province was calculated by using C-D production function model. [Result] As the total amount of fixed investment in agriculture increases greatly each year, the physical capital stock also increases year by year. The rapid transfer of agricultural employees, the gradual decline of agricultural human capital stock. Under the action of elasticity coefficient, although the product of physical capital stock and human capital stock is growing, its growth rate is lower than that of agricultural output value, and agricultural total factor productivity shows an upward trend. [Conclusion] It is proposed that we should continue to strengthen the input of agricultural material capital, improve the quality of agricultural employees, optimize the combination of human capital and material capital to promote the improvement of agricultural total factor productivity, and then accelerate the promotion of the strategy of strong agriculture province in Henan Province.
Authors and Affiliations
Fenyi DONG, Huanhuan LIU, Zhenjie ZHAI, Mengting LI, Xiaomeng MA
Keywords
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- DOI 10.16445/j.cnki.1000-2340.20240509.001
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