In this paper,under the assumption that the labor force function increases strictly and is bounded and the labor force growth rate function decreases monotonically from a positive value to zero,we obtain an improved S...In this paper,under the assumption that the labor force function increases strictly and is bounded and the labor force growth rate function decreases monotonically from a positive value to zero,we obtain an improved Solow Swan model. We prove that the per capita capital trends stabilitily to the steady state of the classical Solow Swan model with zero the labor force growth rate. Two comparison theorems,a limited theorem and a stability theorem are given. At the end of this paper,we give an example and discuss the economic meaning of this model and the theorems.展开更多
The ＂migrant worker shortage＂ which occurred several）pears ago and the recent ＂labor shortage＂ were both caused by an imbalance between the supply and demand of migrant workers. It is a periodical outcome of spon...The ＂migrant worker shortage＂ which occurred several）pears ago and the recent ＂labor shortage＂ were both caused by an imbalance between the supply and demand of migrant workers. It is a periodical outcome of spontaneous adjustment by the migrant labor market. As rural welfare was greatly enhanced in 2009, migrant workers＇ opportunity cost of working outside their hometowns was raised. The connotation of migrant workers＇ ＂market price＂ is changing. The new generation of migrant workers, namely, those born after 1980, are becoming the mainstay of enterprises＇ employment. Being better educated, they have different lifestyles than previous generations. ＂Leisure and entertainment＂ have become part of their opportunity cost and reduced their labor supply. ＂Labor shortage＂ is an endogenous force that helps transform China＇s growth patter, upgrade the industrial structure and promote urbanization. The seasonal ＂return of migrant workers＂ and the ＂labor shortage＂ which appears around China＇s Spring Festival each year have grown into a unique b,t effective collective bargaining mechanism that helps increase migrant workers＇ wages. Facing labor shortages, governments should regulate the labor market pricing and orientate labor-intensive enterprises towards transition, continue to enhance the social security system for migrant workers and those in rural areas, and make an accurate forecast of the population trend and adjust population policies.展开更多
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 usin...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展开更多
This paper examines the transition of growth stage China is about to experience and the main conclusions are as follows： （1） Phase Ⅰ of economic growth driven by investment and export is losing the momentum of eff...This paper examines the transition of growth stage China is about to experience and the main conclusions are as follows： （1） Phase Ⅰ of economic growth driven by investment and export is losing the momentum of efficiency enhancement through intervention and the growth stage of efficiency enhancement through structural adjustment is coming to an end. Urbanization and the development of service sector will inaugurate Phase Ⅱ of stable economic growth characterized by structural optimization through efficiency enhancement; （2） Three leading factors promoting the transition from Phase Ⅰ to Phase Ⅱ include： demographic changes and the emergence of workforce turning point, the reversion of factor elasticity parameters of long-term growth function, and service-oriented economic structure; （3） Developed provinces and municipalities in east China have already entered into the channel of economic deceleration. With increasing urbanization rate, accelerating service-oriented structure and declining demographic dividend after 2016, China＇s economic slowdown would be inevitable if labor productivity fails to improve.展开更多
Using various sources of data, this paper examines the contributions of rural labor migration to economic growth and poverty reduction in China. The results show that there is still a significant number of people livi...Using various sources of data, this paper examines the contributions of rural labor migration to economic growth and poverty reduction in China. The results show that there is still a significant number of people living in poverty in rural areas, while the effectiveness of migration on poverty reduction has declined, implying an urgent need for new approaches to poverty reduction. China＇s experiences could also be valuable for the formulation of development strategies in other developing countries.展开更多
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 sh...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.展开更多
In recent years, the Chinese economy has been facing downward pressure from slowing growth, but there has not been a significant rise in the registered/surveyed unemployment rate. The combination of these factors show...In recent years, the Chinese economy has been facing downward pressure from slowing growth, but there has not been a significant rise in the registered/surveyed unemployment rate. The combination of these factors shows yet again that Okun＇s law does not fit China. Based on empirical observation of the relationship between China＇s economic cycle and its 1 abor market transition, we put forward a broader version of Okun＇s law which is applicable to analyses of the Chinese transition. The specific applications of the broad version of the law are connected with stages of economic development. The standard Okun model, which includes only the unemployment variable, is suited to developed countries in which labor transfer is complete. The broader version of Okun＇s law, which is applicable to transitional economies, introduces a variable for the transfer of agricultural labor. Using Chinese and cross-country panel data, we find that, compared with long-term trends, short-term changes in the transfer of agricultural 1 abor are significantly correlated with the economic cycle. This finding broadens our understanding of the general pattern of the relationship between the labor market and the economic cycle and provides scientific support for employment policy adjustments that takes ＂new urban jobs and the surveyed unemployment rate as an important indicator of macro-adjustment and control.＂展开更多
文摘In this paper,under the assumption that the labor force function increases strictly and is bounded and the labor force growth rate function decreases monotonically from a positive value to zero,we obtain an improved Solow Swan model. We prove that the per capita capital trends stabilitily to the steady state of the classical Solow Swan model with zero the labor force growth rate. Two comparison theorems,a limited theorem and a stability theorem are given. At the end of this paper,we give an example and discuss the economic meaning of this model and the theorems.
文摘The ＂migrant worker shortage＂ which occurred several）pears ago and the recent ＂labor shortage＂ were both caused by an imbalance between the supply and demand of migrant workers. It is a periodical outcome of spontaneous adjustment by the migrant labor market. As rural welfare was greatly enhanced in 2009, migrant workers＇ opportunity cost of working outside their hometowns was raised. The connotation of migrant workers＇ ＂market price＂ is changing. The new generation of migrant workers, namely, those born after 1980, are becoming the mainstay of enterprises＇ employment. Being better educated, they have different lifestyles than previous generations. ＂Leisure and entertainment＂ have become part of their opportunity cost and reduced their labor supply. ＂Labor shortage＂ is an endogenous force that helps transform China＇s growth patter, upgrade the industrial structure and promote urbanization. The seasonal ＂return of migrant workers＂ and the ＂labor shortage＂ which appears around China＇s Spring Festival each year have grown into a unique b,t effective collective bargaining mechanism that helps increase migrant workers＇ wages. Facing labor shortages, governments should regulate the labor market pricing and orientate labor-intensive enterprises towards transition, continue to enhance the social security system for migrant workers and those in rural areas, and make an accurate forecast of the population trend and adjust population policies.
文摘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
文摘This paper examines the transition of growth stage China is about to experience and the main conclusions are as follows： （1） Phase Ⅰ of economic growth driven by investment and export is losing the momentum of efficiency enhancement through intervention and the growth stage of efficiency enhancement through structural adjustment is coming to an end. Urbanization and the development of service sector will inaugurate Phase Ⅱ of stable economic growth characterized by structural optimization through efficiency enhancement; （2） Three leading factors promoting the transition from Phase Ⅰ to Phase Ⅱ include： demographic changes and the emergence of workforce turning point, the reversion of factor elasticity parameters of long-term growth function, and service-oriented economic structure; （3） Developed provinces and municipalities in east China have already entered into the channel of economic deceleration. With increasing urbanization rate, accelerating service-oriented structure and declining demographic dividend after 2016, China＇s economic slowdown would be inevitable if labor productivity fails to improve.
基金The authors are grateful for financial support from the National Natural Science Foundation of China （Grant Nos. 71473267 and 71642003 ）.
文摘Using various sources of data, this paper examines the contributions of rural labor migration to economic growth and poverty reduction in China. The results show that there is still a significant number of people living in poverty in rural areas, while the effectiveness of migration on poverty reduction has declined, implying an urgent need for new approaches to poverty reduction. China＇s experiences could also be valuable for the formulation of development strategies in other developing countries.
基金This paper is one of the phased products of a joint research project undertaken in 2007 between the Micro-Group of the Institute of Economics, Chinese Academy of Social Sciences （CASS） and CCWE, Tsinghua University. The micro-data employed come from a survey of firms conducted by the Institute of Economics, CASS, in 2006. The authors gratefully acknowledge the support of the Ministry of Education＇s Cheung Kong Scholars Program and the National Natural Science Foundation （project number： 70473048）.
文摘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.
文摘In recent years, the Chinese economy has been facing downward pressure from slowing growth, but there has not been a significant rise in the registered/surveyed unemployment rate. The combination of these factors shows yet again that Okun＇s law does not fit China. Based on empirical observation of the relationship between China＇s economic cycle and its 1 abor market transition, we put forward a broader version of Okun＇s law which is applicable to analyses of the Chinese transition. The specific applications of the broad version of the law are connected with stages of economic development. The standard Okun model, which includes only the unemployment variable, is suited to developed countries in which labor transfer is complete. The broader version of Okun＇s law, which is applicable to transitional economies, introduces a variable for the transfer of agricultural labor. Using Chinese and cross-country panel data, we find that, compared with long-term trends, short-term changes in the transfer of agricultural 1 abor are significantly correlated with the economic cycle. This finding broadens our understanding of the general pattern of the relationship between the labor market and the economic cycle and provides scientific support for employment policy adjustments that takes ＂new urban jobs and the surveyed unemployment rate as an important indicator of macro-adjustment and control.＂
