65 / 2016-10-12 19:58:42

Calculation of contribution rate of construction technology progress based on Cobb-Douglas production function

Almon parameters estimation method, Cobb-Douglas production function, construction industry, significance test, technical progress contribution rate

In order to adapt to the new normal economic growth, the growth rate of the construction industry is shifting from the high-speed growth to the medium-speed growth. To promote technological progress is an important task for the construction industry to realize the economic development mode from the extensive growth of scale and speed to the intensive growth of quality and efficiency. The contribution rate of technological progress to a large extent reflects the speed and quality of the development of the construction industry, and has reference value for understanding the development of the industry and formulating the relevant policies. The contribution rate of construction technology progress is calculated by the application of Cobb-Douglas production function model, Almon parameters estimation method and Eviews software to analyze the historical data of 2001~2012. Calculation results show that construction technical progress contribution rate has been at a low level since the beginning of this century, reflecting the construction industry technological progress is slow and lack of innovation. Especially, the capital investment of 4 trillion restrains the technological progress of construction industry to some extent.