要素比价扭曲、过度资本深化与劳动报酬比重下降

Distortion of Factor Relative Price,Capital Over-Deepening and Decline in the Labor Share

资本深化与劳动报酬占国内生产总值的比重变化的关系,从理论上说,只有当要素替代弹性大于1时,或者发生了资本偏向的技术进步,在资本深化过程中,劳动报酬比重会出现下降趋势。在中国现有体制背景下,影响劳动报酬比重的资本深化表现归结为四个方面:(1)经济发展、产业结构变迁;(2)转轨经济的增长方式扭曲了要素价格,提高了要素替代弹性;(3)要素价格扭曲使不同所有制经济部门倾向不同的技术进步方式;(4)资源资本化进程中的资源价格重估和再定价。在经济发展的特定阶段,资本深化导致劳动报酬比重一定程度的下降虽然不可避免,但是要素市场价格扭曲、技术进步的偏向以及金融过度深化导致的资源加速资本深化,从而带来的中国劳动报酬比重过快下降是需要矫正的。矫正的关键在于:推进政府主导型市场经济继续向市场经济转轨,健全要素市场以矫正要素比价扭曲,改善国民收入分配及再分配格局,促进经济发展方式转变。

This paper is based on the determination of labor share in the framework of neoclassical economics, analysis the reason of the continuing decline of labor share along with capital-deepening in the recent 15 years. We believe that on the particular stage of economic development, the decline of labor share result from capital-deepening is inevitable, but the rapid decline of labor share in China induced by distortion of factor price, biased technological progress and resource acceleration capital-deepening caused over-deepening of finance is needed to be corrected. The key is to continue promoting the transition from government-led market economy to market economy, that is , improving the factor market to correct distortion of factor prices, improving income distribution and redistribution, promoting the transformation of the mode of economic growth.