所属栏目:家庭金融/消费金融

The Impact of the High-Tech Industry Total Factor Productivity on Household Consumption from the Perspective of Biased Technological Progress: A Sequential Proportional NDDF-Luenberger index
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发布日期:2026年02月19日 上次修订日期:2026年02月19日

摘要

This study investigates the impact of Total Factor Productivity(TFP) growth in China's high-tech industry on household consumption, examining the distinct roles of labor and capital factor productivity from the perspective of biased technological progress. We innovatively construct a sequential proportional NDDF-Luenberger index. This index not only provides a theoretically consistent measure of TFP but also enables its precise decomposition into labor factor productivity and capital factor productivity, allowing for the quantitative identification of the degree and direction of technological bias. Our analysis yields three key findings. First, China's high-tech industry TFP evolved through a three-phase pattern of "surge–retreat–recovery," characterized by persistent capital-biased technological progress. Second, at the national level, improvements in overall TFP, labor factor productivity, and capital factor productivity all significantly promote household consumption, validating the theoretical pathway where supply-side efficiency gains stimulate demand. Third, significant regional heterogeneity exists: the Eastern region exhibits a "capital-led" growth pattern with weaker consumption effects from labor productivity; the Central and Western regions show "factor synergy," where both productivities contribute to consumption; whereas the Northeastern region suffers from a blocked transmission mechanism, where technological progress fails to significantly boost local consumption due to insufficient integration with the regional economy. By integrating supply-side TFP with demand-side consumption through the lens of biased technological progress, this research provides critical insights for fostering a virtuous cycle between innovation and domestic demand, offering valuable implications for industrial and regional policy design aimed at sustainable and inclusive growth.
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Fang ping Shang; Qiao xia Qi; Yi di Huang; Guo-liang Yang The Impact of the High-Tech Industry Total Factor Productivity on Household Consumption from the Perspective of Biased Technological Progress: A Sequential Proportional NDDF-Luenberger index (2026年02月19日) https://www.cfrn.com.cn/lw/16565.html

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