Effects of financial development and capital accumulation on labor productivity in sub‑Saharan Africa:new insight from cross sectional autoregressive lag approach

This study aims to shed light on the effects of financial development and accumula-tion of capital on the productivity of labor in the sub-Sahara African region within the period of 1990–2018.In this work,we used the(dynamic)common correlated effects estimator-mean group and additional techniques such as cross-section autoregressive distributed lag to calibrate the sample into the African subregion to ensure robustness.The findings reveal that financial progress in the region over time leads to an increase in productivity of labor and also the accumulation of capital.Furthermore,financial markets have a progressive impact on the productivity of labor within sub-Saharan African regions.We extend the very limited literature on the nexus between financial development and labor productivity by incorporating capital accumulation into our model which has not been previously studied.

Regression Analysis of the Sensitivity of Labor Productivity in Tourism to Operating Costs

The paper investigates the impact of selected variables of operating costs on labor productivity in the activity of accommodation and preparation and serving of food and beverages in the period from 2010 to 2020.The research was conducted by applying more linear on a sample of all companies that submitted annual financial reports in the observed period.The authors elaborate the special characteristics of the importance of labor productivity as an important indicator of business success,methods,and importance of business cost management and analyze the sensitivity of labor productivity to the costs incurred.Based on regression analysis,it is concluded that the amount of costs has an impact on the growth or decline of labor productivity,but based on the results of some of the costs incurred in business positively affects labor productivity,which is partially confirmed by the hypothesis of this study.

Effects of Infrastructure Investment on Structural Change and Productivity Growth in China

The rapid growth of infrastructure investment is a salient feature of China’s economy since the reform and opening-up in 1978,contributing to not only the aggregate demand but also the structural change and productivity growth on the supply-side.This paper builds a multi-sector general equilibrium model to show how infrastructure investment influences structural change through price,investment and income effects,and influences productivity growth through the intensive and extensive marginal effects.By quantifying the model with China’s economy for the period 1981-2017,the paper finds that the infrastructure investment restrained the rise of services,but boosted productivity growth over the period.The policy implication is that China should ramp up infrastructure investment to increase productivity as it pursues high-quality development,but give priority to new infrastructure and public-interest infrastructure to promote industrial structural upgrade.

Digital technology,the industrial internet,and cost stickiness

The deep integration of digital technology with the real economy has reconstructed production systems.We explore the impact of digital technology on the resource allocation behavior and efficiency of manufacturing enterprises.Using a sample of Chinese A-share listed manufacturing firms over the 2010–2021 period,we find that digital technology alleviates cost stickiness,especially in enterprises with a high level of Industrial Internet platform usage.This effect occurs by optimizing the labor force structure and improving the economic benefits of labor capital investment.Heterogeneity analysis shows that this effect is pronounced in enterprises with high levels of labor intensity and business complexity.Our findings shed new light on the consequences and mechanism of enterprise cost optimization that is driven by technologydriven reforms.

Emerging Geography of Creativity and Labor Productivity Effects in China

The paper presents an alternative approach to explain why regional productivity is different across regions by utilizing the creative class approach in China. First, we analyze the extent of spatial agglomeration of the creative class across regions in China. Second, we develop a model with spatial externalities to investigate how the concentration of the creative class can promote regional productivity. Our analysis confirms the importance of spatial agglomeration of the creative class in stimulating regional productivity. The results also imply that regional productivity is greater in markets with higher levels of innovation, capital stock, manufacturing and urbanization. In light of the results of our analysis, we discuss a number of policy implications.

Refreshing China’s Labor Education in the New Era: Policy Review on Education Through Physical Labor

Purpose:This study reviews China’s labor education theories and policies to reveal the main objectives,contents,and methods of the new era,as well as analyzes future development in labor education.Design/Approach/Methods:In addition to reviewing the relevant labor education theories,this study examines China’s labor education policies using historical documents and current policy texts.Marxist and traditional approaches to labor education,as well as the historical development of education in China,provide the macroscopic backdrop of this study’s analysis of the persistence and innovativeness of China’s labor education policies.Findings:China’s labor education policy has placed labor education on the same level as that in morality,intellect,sports,and aesthetics,thereby endowing labor education with new meaning.Labor education seeks to cultivate workers with all-round physical and mental development.Becoming more varied over time,labor education now involves the cultivation of skills,technological capacities,creative thinking,labor habits,and emotional development.Approaches and methods include formal programs and teaching,education in daily life at home and school,as well as practical activities outside of school.Originality/Value:This study identifies the meaning of labor education in different eras and analyzes the objectives,contents,and methods of China’s current policies on labor education,as well as its future developmental trends.In doing so,this study provides a useful reference for the implementation of labor education in elementary and middle schools.

TFP and labor productivity:empirical facts of China’s macro-economy and issues for long-run economic growth

The empirical facts of China’s Macro-economy from 2013 to 2014 show the rate of investment and scale of import and export are approaching a maximum and there is an increasing fluctuation in investment and trade;deflation in real economy and the real estate market bubble go hand in hand;and efficiency imbalances between industries and regions become acute.The phase of growth driven by investment and wealth is approaching its end and the economy has entered a crucial period of structural adjustment.The economic growth rate is anticipated to be 7.4%in 2014,and stand between 6.4%and 7.8%over the next five years.Steady growth and high efficiency become the new requirements during the slowing-down of economic growth.In the process of investment-driven growth transforming into efficiency-driven growth,it is well worth paying attention to the establishment of a long-term mechanism for consumption-driven growth.The balance between investment and consumption in the sense of demand management is rendered unhelpful to establishing a path for sustainable growth in China;the report aims to deliver a new perspective by pondering the dynamic efficiency of consumption in the transformation of investment potential into consumption-driven growth.

Labor Inputs and Productivity in Chinese Industries:2000-2018

Under the framework of growth accounting,this paper introduces four heterogeneity characteristics of labor,namely,educational level,age,gender and industry,constructs a cross classification matrix of employment,labor compensation and working hours,and calculates the labor input(volume)of the whole country and of 19 industries during 2000-2018.Then it decomposes the volume into quantity and quality parts to analyze the total amount of labor input and the performance of industry labor input.The results are as follows.First,during the research period,the annual growth rate of labor input was 2.5%,and 78.8%of that came from the growth of labor input quality.The growth of labor input was mainly resulted from the improvement of educational level and the optimization of industrial structure.Second,in 2018,the proportions of labor input of the primary,secondary and tertiary sectors were 13.76%,31.06%and 55.18%respectively,and the transfer speed of labor input to the secondary and tertiary sectors was higher than that of the quantity structure;the labor input volume in the new economy and related industries in the tertiary sector has been greatly increased.Third,the index method-based labor productivity(ILP)of some producer service and consumer service industries was relatively low,and the growth of total industry output mainly attributed to the increase of labor input and the expansion of industrial scale.The improvement of labor input quality has become the key to the growth of labor input in China,and the improvement of educational level is the core power to improve the labor input quality.

Regaining China's Resource Reallocative Efficiency to Boost Growth

The structural changes that the Chinese economy has been experiencing since its working-age population began to decline pose challenges for its further growth.First,as it loses its comparative advantage in labor-intensive activities,the share of manufacturing in its GDP has shrunk.Second,unproductive enterprises that are reluctant to exit the market tend to seek policy protection,which leads to the immobility of resource allocation.Third,the reallocation of the labor force from the highly productive manufacturing sector to the low-productivity service sector leads to the degradation of resource allocation.The inadequate exploitation of the potential of resource reallocation implies that the decline in manufacturing is premature.It is therefore important to combine market competition policy,industrial policy,and social protection policy to stabilize the development of manufacturing.

China’s Pattern of Growth: Moving to Sustainability and Reducing Inequality

This paper uses both macro level and sectoral data to study the sources and pattern of China＇s impressive economic growth over the last 25 years. Extending the growth accounting framework, we show that widening inequality, rural poverty, and resource intensity are to a large extent rooted in China＇s growth strategy, and resolving them requires a rebalancing of policies. We find that growth of investment in the industn＇al sector has been the single most important factor driving gross domestic product and overall labor productivity growth since the early 1990s. The shift of labor from low-productivity agriculture has been limited. The productivity gap between agriculture and the rest of the economy has continued to widen, leading to increased rura-urban income inequality. Continuing with the current growth pattern would further increase already high investment and saving needs to unsustainable levels, lower urban employment growth, and widen the rural-urban income gap. However, reducing subsidies to industry and investment, encouraging the development of the services industry, and reducing barriers to labor mobility would result in a more balanced growth and a substantial reduction in the income gap between rural and urban residents.

Underlying motivation for land use change： A case study on the variation of agricultural factor productivity in Xinjiang, China

Understanding the driving forces and mechanism of land use change is a key issue in land change science, and has received much attention over the past 30 years. While many driving forces have been identified, the mechanism of land use change is still unclear, mainly because of limited knowledge of the underlying motivation for land use change. Traditionally, the underlying motivation for land use change was ascribed to people＇s pursuit of satisfying their own demands or that of profit maximization. However, those theoretical hypotheses combine all productive factors without highlighting certain predominant factor, in this paper, a case study was conducted on the variation of land productivity, capital productivity and labor productivity in agricultural land use in Xinjiang Uygur Autonomous Region of China. The case study revealed that only labor productivity presented a long-term increasing trend in regional cotton and grain production. This result implies that people＇s pursuit of increasing labor pro- ductivity is probably the underlying motivation for land use change. Additional details identi- fied in agricultural and non-agricultural land use in China support the above implication. As labor productivity is a determinant of people＇s living standards, increasing labor productivity means improving people＇s living standards. Therefore, it is concluded that land use change results from people＇s pursuit of increasing labor productivity in a changing environment.

Reassessing the Lewis Turning Point in China： Evidence from 70,000 Rural Households

There is no convincing evidence to prove that China＇s Lewis turning point （LTP） arrived in 2004-2005, as suggested in some of the existing literature. Employing data from the National Bureau of Statistics of China for 70,000 rural households and following the method proposed by Minami （1968） to identify the Lewis turning point in Japan, the present study reassessed the reaching of the LTP in China and found that China＇s economy reached the LTP around 2010. From a regional perspective, China ＂s eastern region reached the LTP in 2010 and its central and western regions are now approaching the turning point. After arriving at the LTP, China＇s rural economy will face three key tasks.＂ safeguarding grain security, promoting economic restructuring and realizing agricultural modernization. To cope with the shortage of human capital in agriculture production and the challenge of the tight balance between grain supply and demand, the Chinese Government should improve the human capital training system, accelerate agricultural modernization and guarantee national grain security.

Study on the Development of Northwestern China's Economy

Through scientific researches and analysis of large quantities of detailed data of Northwestern China’s (NWC). The article illustrates position and present situation and advantages of NWC in Chinese economic developing, and studies the development opportvnities and challenges facing the NWC. factly, on the basic of the above analysic. The paper puts forword the development model and development means in the NWC.

Productivity Change and Growth in Posts and Telecommunications Sector

First,the Production Functions(PF)are estimated for Posts and Telecommunications(P&T)sector's aggregate economy, using annual data from 1957 to 1993. In this paper the contributions of factorinputs to the output growth are measured.Some comparative static results are presented and some interesting results about the economic characteristics of P&T sector are introduced.