摘要
Labor shortage and the rise of wages in China have generated heated debate on the arrival of the Lewisian Turning Point. Based on an empirical study of macroeconomic data for 284 prefecture-level cities, this paper argues that the dual economy transition in China involves the coexistence of urbanization, industrialization and open economy. However, China has not yet arrived at the Lewisian Turning Point, because wage gaps between different industries and regions still exist and surplus labor is still being attracted to the labor-intensive manufacturing and tertiary industries in the eastern provinces. External economic shock and the mismatch between industrialization and urbanization are the primary causes of the coexistence of labor surplus and labor shortage.
