Analysis on TFP Growth and Convergence in Real Estate Development Companies Based on Malmquist Index Method

Based on the provincial panel data for 1997-2008,this article measures the total factor productivity(TFP) real estate development companies in China's 31 provinces by using Malmquist index method based on DEA model,then demonstrates regional and stage characteristics on the TFP from the perspective technical efficiency and technological progress.The result shows that the lowest TFP rate real estate development companies occurred in the stage 1997-2000,and the rate came to top in years 2001-2004.In the TFP growth,the level technical efficiency is obvious,but the growth effect of technological progress is relatively limited.In the spatial distribution,the TFP rate got highest in the middle,and the lowest in the east.Besides,the convergence test shows that club convergence within the east,middle and west districts respectively.