Empirical Analysis on the Construction Workers’ Contribution to Chinese Construction Industry Economic Growth and Sharing of Ecnomic Gain

Abstract:

This paper utilizes the production function model as analysis model, selects gross product of construction industry of China as output (Q), the sum of fixed assets and current assets of construction industry of China as capital input (K), and the numbers of construction workers of China as labor input (L). The comparable prices of ‘Q’ and ‘K’ from 1993-2009 are calculated by using the deflator index of gross domestic product and the price indices of investment in fixed assets, and the base year is 1991. The result of regression analysis shows the labor elasticity factor is 0.42 by using the software of ‘EVIEWS’, then the contribution rate of construction workers is calculated as 33.2%, and the sharing rate of construction economic gain is 15.69%. Comparing with the contribution of the construction workers, their sharing is less. This paper also finds the construction industry of China is the period of decreasing return to scale, this demonstrates the management level of construction industry shall be improved.

• Periodical: Applied Mechanics and Materials (Volumes 71-78)
• Pages: 296-299
• DOI: https://doi.org/10.4028/www.scientific.net/AMM.71-78.296
• Online since: July 2011
• Authors: Min Chen, Qi Ming Li, Chao Qun Peng
• Keywords: Construction Workers, Contribution Rate, Production Function

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