Gross Final Product and GFP-Driven Economic Growth

Liu Shijin

Development Research Center of the State Council, Beijing, China

Abstract:   After analyzing the defects of gross domestic product (GDP) as a statistical indicator, this paper identifies and defines the concept of gross final product (GFP), emphasizing the attribute of GFP as the final product of a natural process and  the actuator of the entire economic system. The paper also investigates the roles of foreign trade, production investment, public goods and private goods in economic growth under the GFP perspective, and explores the possibility for the GFP analytical framework to explain the economic growth process.
Keywords: gross final product, economic growth


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