资本深化、要素收入份额与全要素生产率——基于有偏技术进步的视角

Capital Deepening,Factor Income Share and Total Factor Productivity——A Perspective from Biased Technical Change

资本深化和有偏技术进步是影响要素收入份额和全要素生产率的重要因素。在拓展标准化CES生产函数的基础上,从有偏技术进步的视角分析了资本深化对要素收入份额和全要素生产率的作用机制,并采用19902016年省际面板数据进行了实证检验。研究结果表明,不同于传统经济增长核算分析中单位替代弹性与中性技术进步假设,中国综合资本要素和综合劳动要素的替代弹性显著小于1,技术进步方向总体偏向资本;在综合要素之间总体呈现互补关系下,资本深化对资本—劳动收入份额比产生了负向作用,资本偏向型技术进步对资本—劳动收入份额比产生了正向作用,两者共同作用决定了要素收入份额的变动方向;要素收入份额偏离稳定基准点会对全要素生产率产生不利影响。因此,在持续的资本深化态势下,选择适宜的技术进步路径,提高资本要素产出效率,保持要素收入份额基本稳定,有助于提高全要素生产率,实现经济高质量发展。

Capital deepening and biased technical change are important factors influencing factor income share and total factor productivity.Based on the expansion of normalized CES production function,this paper analyzes the mechanism of capital deepening affecting factor income share and total factor productivity from the perspective of biased technical change and tests it empirically using the provincial panel data of 1990 to 2016.The results show that,unlike the unit substitution elasticity and neutral technical change hypothesis of traditional economic growth accounting analysis,the substitution elasticity of Chinese capital elements and labor factors is significantly less than 1,and the overall progress of technical change is biased towards capital;under the gross complement relationship between the factors,the capital deepening has a negative impact on the capital-labor income share;the capital-augmenting technical change has a positive impact on the capital-labor income share;the combination of the two determines the direction of capital-labor income share;deviating from the long-term stable reference point of the factor income share will adversely affect total factor productivity.Therefore,under the continuous capital deepening,choosing the appropriate biased technical change path,improving the capital output efficiency,and maintaining the long-term stable factor income share will help to improve the total factor productivity and achieve high-quality economic development.