CONVERSION EFFICIENCY OF NEW AND OLD KINETIC ENERGY AND ITS IMPACT FACTORS IN CHINA'S CONSTRUCTION INDUSTRY BASED ON MALMQUIST INDEX METHOD

摘要

This paper measured the Conversion efficiency of new and old kinetic energy (CENOKE) in construction industry during 2010 to 2018 by Malmquist index method, and analysed the impact factors on the CENOKE by panel model. The results revealed the CENOKE in construction industry increased by 2.9 during 2010 to 2018. Further, decomposing the CENOKE into Efficiency Change (EFFCH) and Technological Change (TECH), the EFFCH was up by 5.5 which was the main strength to drive CENOKE, while the TECH decreased by 2.5 and had a hindrance to CENOKE. From the regional level, the Eastern region had the highest CENOKE, followed by the Western region, and the Central region. Overall, the China's construction industry was driven mainly by old kinetic energy. Among the influencing factors of CENOKE, the energy structure and the profitability had a negative effect on CENOKE, while the equipment level, urbanisation rate and property rights structure were positive on CENOKE. The suggestions to improve CENOKE in construction industry included optimising energy consumption structure, advocating green buildings, promoting construction industrialisation, and enhancing human capital.