投资效率下滑与劳动力市场结松矛盾的关系

Relationship between declining investment efficiency and labor market structural problems

新古典宏观经济学柯布一道格拉斯生产函数揭示了保持合理的资本劳动比率对于促进经济可持续发展的重要意义。数据显示，当前国内资本要素对经济增长的促进作用有所减弱，从生产函数关系看，支持经济增长的最优资本一劳动比率可能发生了变化。文章分析指出，未来几年我国劳动力供给还将处于较高水平，劳动力素质亦呈不断提升趋势，制约劳动力要素释放的因素主要来自于劳动力市场的结构性问题，未来应基于改善劳动力投入要素角度进一步挖掘投资效率。

The neoclassical macroeconomics Cobb-Douglas production function has revealed the great significance of maintaining a reasonable capital-labor ratio in promoting a sustainable economic development. Data show that the role of domestic capital elements in promoting economic growth at present has weakened to some extent; from the production function perspective, the optimal capital-labor ratio for the economic growth may have changed. This article points out that, the manpower supply in China will remain at a relatively high level and the manpower quality will be increasing; factors restricting the manpower contribution are mainly structural problems in the labor market and the investment efficiency could be further improved in the future from the perspective of improving labor input.