Low Labor Share in GDP Holds Back Economic Development

The declining share of labor compensation in China＇s GDP has raised intense public concern. Using statistics since 1978, this research paper examines, in detail, the changing patterns of labor compensation since reform and opening- up. Following international practices. this paper has adjusted China＇s labor compensation statistics.The results show that, iu contrast to a significant drop in the share of labor competsation in GDP before making an adjustment, the adjusted share has actually remained stable for the most part after the late 1970s.There has been no discernable fall until the last several years, The real prablem in China＇s functional distribution of national income since the late 1970s has not been the declining share of labor compensation in GDP. Actually, the share has always remained consistently low.It can be characterized as beiag ＂stable at a low level on a long-term basis＂.How to increase the labor share,which is in the interest of the average worker is a major question that must be addressed in China＇s future economic development.

Is China’s Economic Growth Profitled or Wage-led?——A Theoretical Inquiry and Empirical Study on the Impact of Labor Share on Growth

The paper makes a comparative review and evaluation of different theories on impacts of the distribution of labor and capital income on economic growth as well as criticism of the mainstream theories and suggests using Bhaduri-Marglin model as the theoretical basis for relevant research. By formulating the econometric model and analyzing time series data from 1978 to 2012, the paper makes an empirical research into the impact of labor share on economic growth in China. It has discovered that the positive effect of labor share on consumption demand growth in China outweighs its negative effect on investment and net export growth, concluding that growth in China is wage-led at present. That may mean that （1） increasing labor share promotes growth and the goals of equality and efficiency supports each other,＂ （2） the demand and optimizing structure＂ lies in regulation tools. key to ＂stabilizing growth, expanding domestic establishing a set of pro-labor institution and

Declining Labor Share:Is China's Case Different?

This paper explores why labor share in China has declined since the middle of the 1990s. Existing literature usually ascribes the labor share decline in developed countries to biased technological progress. However, our investigation shows that China ＂s case is different. Using a simultaneous equation model estimated with three-stage least squares, we find that FD1, levels of economic development and privatization have negative effects on the labor share. The negative influence of FDl on labor share results from regional competition for FD1, which weakens labor forces＂ bargaining power. A U-shaped relationship exists between labor share and the level of economic development, and China is now on the declining part of the curve. The negative effects of privatization on the labor share stem from the elimination of the so-called ＂wage costs eroding profit ＂ situation and the positive supply shock on the labor market.

SPECIAL ISSUE： DISTRIBUTION OF NATIONAL INCOME IN A TRANSITIONAL ECONOMY Changes in the labor share of GDP： a U-shaped curve

In this paper, we try to find some general rules and the structural factors that cause a fall in labor economic growth in countries all over the world, the by a U-shaped curve in which the tuming point is for labor share in primary distribution share. We show that, in the process of evolution of labor share is characterized $6,000 per capita GDP （in PPP, 2000）. We develop a model to explain this phenomenon that provides an in-depth explanation for Kuznets＇ inverted U hypothesis. Our findings indicate that the evolution of China＇s labor share is basically consistent with the model we have constructed. In addition, sectoral composition and the relative bargaining power of labor are also factors influencing labor share. These findings imply that labor share of primary distribution in China may enter an upward trajectory over the next two years. This process may be accelerated by the central government＇s policies for dealing with global financial crisis and by structural adjustment.

Employment Structure,Lewis Turning Point and the Labor Share of Income:Theoretical and Empirical Analysis

In the context of the labor market segmentation in China and its reaching the Lewis turning point,this paper interprets the changing trend of the labor share of income in China from the changing perspective of the employment ownership structure.The theoretical analysis reveals that the labor share of income follows a U-shaped curve when the agricultural labor force gradually moves into the private and self-employed sectors.Using the Chinese provincial-level panel dataset between 1990 and 2016,our empirical study finds that there is a critical threshold.When the share of agricultural labor force is above this threshold value,the impact of the increase in the employment share of the urban private sector on the labor share of income is negative.In contrast,the impact becomes positive when the share of the agricultural labor force is less than or equal to this threshold value.Moreover,the impacts of other variables of employment ownership structure don’t show this kind of feature on both sides of this threshold value.The increase in the employment share of the urban private sector accounted for about 29.37%of the growing labor share of income between 2007 and 2016.This paper provides policy implications in the following four areas:institutional guarantee improvement,harmonious labor relations establishment,redistribution policy imposition and economic development pattern transformation.

Why Does China＇s Labor Income Share Tend to Decline？- From the Perspective of Population Age Structure Change

Using a theoretical model, this article concludes that age structures influence people＇s propensity to save and thereby influence their capital intensity. In the context that capital and labor are in a substitutional relation, increased capital intensity may lead to a drop of labor income share. We perform empirical research with provincial-level data from 1990 to 2007 and have proved that the rising of the old dependency ratio and the decrease of the children dependency rate both contribute to the fall of labor income share. This assumption still holds true after the authors control the influences of other potential factors that may influence labor income share

Artificial Intelligence,Structural Change and Labor Income Share

Artificial intelligence(AI)is a strategic technology that leads a new round of technological revolution and structural transformation.This paper studies the effects of AI on structural change and factor income shares.As a general purpose technology and new infrastructure,AI may substitute either labor or capital and its application has differential prospects across sectors.With a multi-sector general dynamic equilibrium model,we find that AI services or AI-specific technologies will reallocate factors between sectors.The direction of the reallocation depends on sectoral differences in the output elasticity of AI and in the elasticity of substitution between AI and traditional modes of production.The process of structural change will in turn change the labor income share.This paper presents the theoretical conditions for the direction of these changes and the underlying economic mechanism.We derive policy implications about how to promote high-quality development with AI.

Effects of Commodity Trade Structure Variations on Labor' s Share of Income in China——An Empirical Study Based on Data of Production Industry Sectors

Proceeding from trade structure variations,this paper provides a new perspective on the study of the share of labor income in China.China's commodity trade structure has experienced a step change in recent years.According to theoretical analysis,trade exerts not only a direct effect on the share of labor income through international division of labor and specialization but also an indirect effect through factor intensity variations and technology progress bias.Empirical study discovered that export has a significant negative effect on the share of China's labor income while import has a positive effect.Import and export have different levels and directions of effect on sectors with different factor intensity.

Measuring Labor＇s Share of Income in China： 1993-2008

Accurately measuring labor＇s share of income is of great importance for China ＇S national policies, particularly its labor compensation policies during the 12th Five Year Plan period. This paper first analyses the measurement problems of labor＇s share of income from the perspectives of definition and data and their influences on the accuracy of the measurement results. Then it sums up and appraises several adjustment methods for existing measurement problems. Finally, the author estimates the operating surplus of private, unincorporated enterprises （OSPUE） in China using data from Urban household survey （UHS）, Rural household survey （RHS） and population survey, and further makes a correction to labor＇s share of income in China from 1993 to 2008 with data from flow of funds accounts. Finally, the author conducted trend analysis and international comparisons using the results obtained from the first part of the paper.

企业数字化转型对劳动收入份额的影响

数字化转型作为企业未来发展的新动能,其是否能够提高企业劳动收入份额,优化内部收入分配格局仍存在争议。为厘清二者之间的作用关系,需要在从理论上廓清数字化转型影响企业劳动收入份额的经济逻辑的基础上,利用2012—2020年中国沪深A股上市公司数据进行实证检验。研究发现:数字化转型从整体上提升了企业劳动收入份额,实现了“分好蛋糕”的目标;数字化转型通过工资率和劳动生产率影响劳动收入份额,且对工资率的影响大于对劳动生产率的影响,从而产生数字化转型提高企业劳动收入份额的净效应;数字化转型能够提高企业增加值,实现“做大蛋糕”的目标;与劳动密集型企业相比,资本技术密集型企业的数字化转型对劳动收入份额的提升作用更大;与非国有上市公司相比,国有上市公司的数字化转型对劳动收入份额的影响程度有所下降,主要原因在于国有企业对社会责任的特殊承担。通过揭示数字化转型影响劳动收入份额的内在机理,可以为二者之间作用关系的争议提供微观层面的实证依据,也为数字经济背景下企业如何兼顾效率与公平,实现共同富裕提供有益的政策启示。

人工智能如何影响劳动收入份额——基于产业结构与企业升级的机制探讨

作为一项重要技术变革,人工智能在推动产业智能化的同时,势必对劳动力市场的要素收入分配产生重要影响。本文基于偏向性技术进步理论,运用2010—2021年中国城市与企业层面面板数据,从系统性视角考察人工智能对劳动收入份额的宏微观影响机制。研究结果显示:(1)人工智能应用在宏微观层面均有利于劳动收入份额增加,该结论在经过工具变量法、机器学习法估计等一系列稳健性检验后依然成立。(2)宏观层面,人工智能可通过产业结构高级化增加劳动收入份额。(3)微观层面,人工智能可通过提高创新质量、创新效率与全要素生产率来增加劳动收入份额。(4)人工智能对劳动收入份额的积极影响在城市层面的高人口规模、高市场化水平、高劳动力保护强度、高劳动力技能水平及企业层面的高企业规模、高劳动力技能水平、低劳动要素密集度的样本中尤为明显。研究结论为我国在数智化浪潮中完善收入分配制度、实现共同富裕提供了有益启示。

人工智能促进共同富裕的理论逻辑、现实难题和实现路径

发挥人工智能促进共同富裕的正向效应,并避免和化解其负面影响,对于顺利实现共同富裕具有重要意义。从理论逻辑上看,人工智能在多个方面对共同富裕有促进作用,主要包括稳定劳动收入份额、助推低技能劳动力共享经济增长的成果、为低技能劳动力创造新工作岗位以及对劳动力供给和需求的不对称影响等。但是,这些理论逻辑的落地还存在着缺乏人工智能供给端、需求端和分配端的整体发展规划,人工智能技术提高生产率的作用不明显,高等教育规模和结构不够合理,低技能劳动力缺乏人工智能技术培训渠道,数字基础设施建设存在短板等问题。为此,应该科学制定人工智能发展战略、推动人工智能技术在经济中的应用及扩散推广、建立与人工智能人才需求相匹配的教育培训体系、建立专门针对低技能劳动力的人工智能技术培训体系、提高欠发达地区和农村地区数字基础设施质量,以人工智能促进共同富裕的实现。

大数据发展与企业劳动收入份额——来自大数据综合试验区的证据

在着力构建新发展格局和建设数字中国背景下,如何利用数字技术扎实推进共同富裕成为亟待研究的课题。以2009—2020年A股上市公司为研究对象,将国家级大数据综合试验区试点作为推动大数据发展的准自然实验,运用双重差分模型深入剖析大数据发展对企业劳动收入份额的影响。研究结果表明:(1)国家级大数据综合试验区设立能显著提升企业劳动收入份额,该结论在经过多种稳健性检验后依然成立。(2)降低企业成本、优化人力资本结构和提高公司治理水平是大数据发展提升企业劳动收入份额的潜在路径。(3)国家级大数据综合试验区设立能兼顾“效率”和“公平”,扩大普通员工岗位和薪资占比。研究结果为在微观层面厘清数字技术发展如何影响劳动收入份额提供经验证据,为新时期扎实推进共同富裕提供政策启示。

企业ESG表现提升劳动收入份额实证研究——基于中国上市公司的经验证据

基于中国上市公司大样本数据检验证实:企业ESG表现提升劳动收入份额源自多种因素的共同作用。笔者依据相关公司治理理论,以2009—2021年中国沪深A股非金融类上市公司的样本有效数据,运用多元线性回归方法实证检验了企业ESG表现与劳动收入份额之间的关系及其变化。检验结果证实:企业ESG表现与劳动收入份额正相关;资金支持、内部控制水平、技术升级中介企业ESG表现与劳动收入份额的相关性;以劳动密集程度和技术密集程度为代表的要素密集程度正向调节企业ESG表现对劳动收入份额的提升,而企业规模和劳动调整成本则发挥反向调节作用。本研究通过将公司内部治理和公司外部性等相关理论原理尝试性地运用于企业ESG表现与劳动收入份额关系的实证研究,从一系列检验诸多相关要素的有机联系上证实了企业ESG表现显著提升劳动收入份额,丰富了关于可持续发展研究领域的现有文献,研究结论有助于为企业以改善ESG表现方式实现高质量发展提供理论依据。

国有经济如何影响非国有企业劳动收入份额?

基于中国工业企业数据,实证检验了国有经济对非国有企业劳动收入份额的影响。结果发现,国有经济比重上升能够显著提高非国有企业的劳动收入份额,且该影响是国有经济工资溢出效应和效率损失效应共同作用的结果。当国有经济比重较低时,其工资溢出效应是提高非国有企业劳动收入份额的主要方面;当国有经济比重较高时,其效率损失效应在提高非国有企业劳动收入份额中的作用更加突出。异质性检验发现,当国有企业有更高工资或更低效率时,国有经济提升非国有企业劳动收入份额的作用会增强。当劳动力供给充足或市场化程度较高时,国有经济对非国有企业劳动收入份额的提升效果会下降。因此,不断完善社会主义市场经济体制,深化国有企业改革,保持合理的所有制结构有利于促进民营经济健康发展。

头部企业市场扩张与行业劳动收入份额变动关系研究

为研究头部企业市场份额变化对行业劳动收入份额的影响,基于1998—2007年的中国工业企业数据,测算制造业头部企业市场份额和制造业劳动收入份额,并建立计量模型进行实证分析。研究结果表明:头部企业市场份额的提高显著降低了行业劳动收入份额,且上述影响在资本密集型行业更为明显;企业间再分配效应和企业内效应是劳动收入份额变动的主要来源,企业进入效应和退出效应的影响相对较小;头部企业市场份额变化主要通过企业间再分配效应影响行业劳动收入份额。

中国制造业企业出口能否促进共同富裕?——基于劳动收入份额的视角

共同富裕是中国式现代化的重要特征,完善收入分配制度是实现共同富裕的重要路径。文章运用异质性企业理论,利用中国工业企业数据、中国海关贸易数据对中国制造业企业出口影响劳动收入份额的方向和效果进行了多时点DID和灵活DID检验。研究发现:出口能显著提升企业的劳动收入份额;异质性检验表明,出口对劳动收入份额的提升作用在低生产率企业、非国有企业、出口高技术产品的企业以及高市场集中度行业的企业中表现得更为显著;持续期检验表明,即使企业出口转为内销,出口对劳动收入份额的提升作用依然持续;影响机制检验表明,企业出口对劳动收入份额的影响存在正向的劳动收入效应和负向的生产率效应,其中,劳动收入效应占主导地位。因此,中国应继续推进贸易自由化进程,鼓励非国有企业对外开放、推动制造业转型升级、鼓励高市场集中度行业对外开放,同时进一步优化劳动力市场结构、不断完善社会保障体系。

劳动收入变化中的要素收入结构和技能溢价:理论与估计

提高劳动报酬在收入分配体系中的比重是构建新发展格局和实现共同富裕的重要驱动力,本文基于2010—2021年沪深A股上市公司构成的面板数据,从技能溢价和劳资收入比的视角出发,采用固定效应和Tobit模型探讨其对劳动收入份额的影响、作用机制以及其中存在的异质性。研究发现,技能溢价和劳资收入比对劳动收入份额呈显著的负向影响,在经过内生性问题处理和一系列稳健性检验后,结论依然成立。进一步研究发现,技能劳动雇佣比对技能溢价有显著的负向影响。因此,应继续推动技术创新和引导技术进步,改善不同技能劳动要素收入及资本要素收入的关系,以实现高质量发展与共同富裕的双赢。

薪酬税收激励与劳动收入份额

我国推动企业高质量发展的税收优惠政策多数偏向资本要素,而激励使用劳动要素的较少。前者通常不利于提升劳动收入份额,后者的影响又如何呢?对此,本文基于2008年薪酬抵税改革运用双重差分实证分析。研究发现:薪酬税收激励能提升劳动收入份额,在样本均值处约上升4.62%。该政策促进企业提高薪酬待遇,且普通员工受益大于管理层,并且对企业效率和效益均有正向影响。综合来看,此类税收优惠政策能更好兼顾高质量发展和共同富裕,践行“在高质量发展中促进共同富裕”宜更多运用。

积累率、再生产结构与经济增长——基于中国城市数据的实证研究

以价值衡量的净产出增长取决于社会中的积累率水平、追加资本的结构以及净产出增量的分配结构。经济增长是社会剩余和再生产结构的函数。本文运用我国1998—2019年4个直辖市和283个地级市(含省会城市)数据,对该结论进行了实证检验。研究结果显示:积累率、追加资本结构和劳动收入占比对我国经济增长具有显著性影响,这种影响在我国省会城市与非省会城市以及南方城市和北方城市间具有显著的异质性。在我国全面建设社会主义现代化国家的背景下,保持合宜的经济增长速度是维持社会稳定、实现发展目标的基础。随着我国资本密集度的不断提高、二元经济结构的调整、人口结构的变化以及创新型国家的建设,追加资本中可变资本比例的下降和劳动收入的不断上升,会对经济增长带来抑制作用。因此,应通过保持较高的积累率、调整投资方向、不断提高劳动生产率的方式获得理想的增长速度。