Estimating the Capital Service of Beijing: 1978-2012

Abstract

In macroeconomics, the measure of capital input and its contribution to production has been a spot in research. This paper takes Beijing city as the research object, referring to the 2008 SNA concepts and categories on capital service, making the full use of existing data, applying the PIM method to estimate the capital service and its index of 1978-2012. Because the capital service estimate is a new research field in China, the conclusions of this research can provide data support for the accurate accounting of total factor productivity and the decision support for the economic growth policies making in Beijing.
Key words: Capital service; Beijing; Productive capital stock; Age-efficiency profile