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2022 | OriginalPaper | Chapter

The Cobb-Douglas Production Function for an Exponential Model

Authors : Roman G. Smirnov, Kunpeng Wang, Ziwei Wang

Published in: Advances in Econometrics, Operational Research, Data Science and Actuarial Studies

Publisher: Springer International Publishing

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Abstract

The chapter delves into China’s remarkable economic growth since 1978, marked by significant events such as the introduction of market-oriented reforms, WTO membership, and recovery from the Great Recession. It employs the Cobb-Douglas Production Function to analyze the impact of these events on production, labor, and capital. The study is distinguished by its use of exponential models to fit economic data, demonstrating that China’s growth can be accurately described by these models. The chapter also explores the limitations and applicability of the Cobb-Douglas function, providing a nuanced understanding of China’s economic expansion over five distinct periods. By combining analytical and statistical methods, the research offers valuable insights into the dynamics of China’s economy, making it a compelling read for those interested in economic growth and modeling.
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Metadata
Title
The Cobb-Douglas Production Function for an Exponential Model
Authors
Roman G. Smirnov
Kunpeng Wang
Ziwei Wang
Copyright Year
2022
Book
Advances in Econometrics, Operational Research, Data Science and Actuarial Studies

Print ISBN: 978-3-030-85253-5

Electronic ISBN: 978-3-030-85254-2

Copyright Year: 2022

DOI
https://doi.org/10.1007/978-3-030-85254-2_1

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