The New Driving Force of Shenzhen’s Economic Development in the New Era—From the Perspective of Total Factor Productivity

Abstract

In New era, Shenzhen’s economic development needs new impetus. The paper analyzes the dynamic change mechanism, regional development potential and industrial structure upgrading efficiency of Shenzhen’s economic development from the perspective of total factor productivity. First of all, the paper analyzes and collates the mechanism of the production of total factor productivity and the way to improve it. Secondly, it calculates the total factor productivity of the whole, major region and industry in Shenzhen. The results show that the growth rate of total productivity in Shenzhen is strong, and the growth rate of total factor productivity in different regions and industries is uneven and differentiated, and the driving force of total factor productivity growth in different regions and industries is not the same. According to the conclusion, some constructive policies and suggestions are put forward. The government should grasp macroscopically to improve total factor productivity accurately and efficiently, use Multi pronged approach to deepen the reform of the economic system and making up the short board of Shenzhen’s economic development, build a modern industrial system and adhere to the general direction of industrial transformation and upgrading, and do deep tillage and meticulous work to formulate policies for service industries accurately, seize the commanding heights of human capital and optimize the structure of human capital.