Total Factor Productivity of Listed Companies in Manufacturing Industry: Study Based on Three Major Coastal Economic Zones in China

As terrestrial resources become increasingly scarce, human activities extend farther into the ocean. Coastal areas are blessed with rich aquatic resources, as well as the advantage of convenient shipping traffic. The manufacturing industry is a comprehensive symbol of a country's economic strength. Therefore, the improvement of the efficiency of manufacturing industry in the most developed coastal areas is the key of economic operation. This paper uses the Malmquist-Data Envelopment Analysis (DEA) model to analyze the total factor productivity (TFP) of listed manufacturing firms in China's three major coastal economic zones from 2009 to 2018. The result shows that the efficiency of manufacturing industry in China's three major coastal economic zones has maintained a relatively high level, and the growth rate of TFP is on a steady growth trend. A gap occurs between the actual level of manufacturing output and the level of frontier output in the three major coastal economic zones. Therefore, improving technological efficiency is one of the main issues to be faced. In the coming year, technological progress, the introduction of advanced technologies, and institutional innovations will be the main drivers of productivity growth.