制造业出口、分工深化效应与企业的劳动收入占比

劳动者收入占比一直是中国经济增长中的一个热点问题。企业劳动收入占比反映了劳动和资本在出口收益分配中的相对地位及其收入分配关系。本文运用1998-2007年间企业层面的出口数据,实证分析了中国制造业出口对出口企业劳动收入占比的影响,并考察了出口影响企业劳动收入占比变动的传导机制,发现中国制造业出口对出口企业劳动收入占比具有显著的提升作用,出口企业劳动收入占比的提升是分工深化效应下生产结构转变的结果。本文澄清了所谓的"中国出口导向增长模式"不利于劳动者报酬提升的主流观点,有利于正确认识出口对收入分配的作用。     

要素密集度偏向型出口技术结构升级的收入分配效应——基于我国省级动态面板数据的GMM方法

基于我国28个省级区域的出口数据,运用修正后的Hausmann(2005)模型测度了各省级区域2002-2008年劳动和资本密集度偏向型产业的出口技术结构。在此基础上,运用差分GMM估计从全国和区域双层面对要素密集度偏向型出口技术结构升级的收入分配效应进行了实证分析。结果表明:近年来,我国资本和劳动密集度偏向型产业的出口技术结构都有较大的提升,但两种密集度产品技术含量的差距在不断扩大;Stolper-Samuelson定理在我国是适用的,劳动密集度偏向型出口技术结构升级对劳动收入占比具有显著的促进作用,而资本密集度偏向型出口技术结构表现为显著的负作用;导致我国出口增长与劳动收入占比下降"相悖"现象的原因在于资本密集度偏向型产品的出口增长速度快于劳动密集度偏向型产品。     

员工收入占比、公司价值与资本深化

近年来,我国劳动收入占比持续下降,制约了消费及经济增长。采用2007—2013年的6189个制造业上市公司数据,通过联立方程和3SLS估计,证明了员工收入占比同企业价值之存在动态的相互影响的关系。并发现,较高的员工收入占比不仅有利于企业价值的提升,还能帮助企业抵抗资本深化对公司价值造成的不利影响。这为提升企业中员工收入占比提供了实证依据。     

为什么我国劳动收入占比不断下降——一个基于权力（资源）结构和地方政府竞争的视角

中国宏观经济运行中产生了两个重要现象：工资增速远低于GDP增速和劳动收入在国民收入初次分配中的占比不断下降。究其原因在于：政府掌权了大多数资源和绝对的权力,导致分配偏向于政府和垄断企业;并且在以GDP为导向的地方政府竞争下,各地在产业选择时都偏向于发展资本密集型产业,从而提高了资本在国民收入分配中的谈判能力,导致企业的收入占比不断提高。     

对外贸易与劳动收入占比:基于省际工业面板数据的研究

考虑到进口贸易与出口贸易在影响机制上的差异性,本文重点探讨对外贸易开放程度增加在我国工业劳动收入占比下降中所起的作用并区分进口贸易和出口贸易的影响。在控制了劳动收入占比与贸易的联立关系之后,本文发现进口贸易的作用显著为负,出口贸易则表现出弱负向作用。此外,资本增强型技术进步也是我国工业部门劳动要素分配地位弱化的重要原因。     

要素偏向的技术进步、替代弹性与劳动收入份额

本文运用替代弹性不变的生产函数,分析了我国1995-2005年劳动收入份额降低的原因:资本和劳动替代弹性小于1,劳动增进型技术是资本偏向的,对劳动收入份额有负向影响;资本增进型技术是劳动偏向的,对劳动收入份额有正向影响,但1995年以来资本增进型技术是逐渐下降的。人均资本的增加有利于劳动收入份额的提高。劳动和资本增进型技术以及人均资本共同作用产生了我们观察到的劳动收入份额变动趋势。在劳动和资本增进型技术对劳动收入份额下降所产生的影响中,劳动增进型技术解释了其中的64%,占主导作用,资本增进型技术的下降对劳动收入份额下降的作用次之。     

对外贸易与中国劳动者的收入份额——基于1978-2012年中国省际面板数据的研究

本文基于1978-2012年中国省际面板数据,研究了对外贸易对中国的劳动收入份额的影响。结果显示,对外贸易使中国劳动收入份额下降,并且,出口和进口贸易对中国劳动收入份额的提高均起抑制作用。这是因为:一方面,中国的出口贸易模式背离了自身的比较优势,出口产品以资本密集型产品为主;另一方面,以资本密集型中间产品进口为主的加工贸易加剧了中国的结构性失业。同时,中国的劳动和资本要素呈互补关系,因此,提高资本密集度、鼓励创新、促进生产技术进步对提高中国劳动收入份额起着不可忽视的重要作用。     

论破解我国现阶段收入差距难题的现实路径

劳动收入分配在国民收入分配格局中占有非常重要的位置.初次分配中劳动收入占比状况事关劳动者收入水平和初次分配是否公平.目前,我国劳动收入在初次分配中的比重偏低是导致收入差距不断扩大的直接原因,长期发展下去会危及我国经济的持续健康发展与社会的和谐稳定,深入剖析劳动收入比重偏低的形成原因,采取强有力的措施不断提高劳动收入占比是有效破解收入差距难题的现实选择.     

出口参与对制造业企业劳动收入份额的异质性影响研究

本文基于2004—2009年中国工业企业微观数据,利用倾向得分匹配方法研究出口参与对中国制造业企业劳动收入份额的异质性影响。研究结果表明:制造业企业劳动收入份额处于较低水平,整体呈"金字塔"型,且企业劳动收入份额呈下降趋势;基于全部样本匹配的实证结果表明,出口使得企业层面劳动收入份额提高,并且这种影响具有滞后性;按地理区位分组的结果表明,出口使东部、中部和东北地区的制造业企业劳动收入份额相对提高,按企业规模分组的结果显示,出口对企业劳动收入份额的影响具有"逆规模"特征,出口的正向作用主要集中于中小型企业;按行业分组的结果显示,出口对于大部分劳动密集型行业企业劳动收入份额的提高具有促进作用。基于上述结论,本文提出了相应的政策建议。     

中间品贸易自由化、不完全竞争与劳动收入份额

基于中国工业企业数据库和关税数据,通过“倍差法”实证分析了中间品贸易自由化对我国制造业企业劳动收入份额的影响。研究发现,中间品贸易自由化显著提高了制造业企业的劳动收入份额;异质性分析表明中间品贸易自由化对劳动收入份额的影响主要是由非加工贸易企业驱动,并不影响加工贸易企业的劳动收入份额,且对劳动密集型企业的影响大于非劳动密集型企业,中间品贸易自由化显著提高了企业的技能劳动收入份额和议价劳动收入份额。     

要素价格变动、技术创新效率偏向与劳动收入份额

基于诱发创新理论检验了要素价格变动对技术创新效率偏向与劳动收入份额变动的影响效应，研究发现要素相对价格变动产生了技术创新效率偏向。在生产要素互补条件下，技术创新效率偏向资本要素时，劳动收入份额趋于下降；技术创新效率偏向劳动要素时，劳动收入份额趋于提高。进一步研究发现，中国1978-2017年总体技术效率处于劳动增进型演化路径，但1978-2004年期间存在技术创新偏向资本效率阶段，这解释了劳动收入份额转折的现象，同时也验证了要素价格诱发创新理论在中国的适用性。     

An empirical note on factor shares

In this study, we propose an explanation for why labor and capital shares do not seem to have a trend: an increasing trend in physical capital share is compensated by a decreasing trend in land share. Similarly, an increasing trend in human capital share is compensated by a decreasing trend in raw labor share. We also find empirical support for the claim that the elasticity of output with respect to reproducible factors, human and physical capital, is positively correlated with the income level. This result has important implications for economic growth theory and for empirical exercises related to economic growth.     

Why labor income shares seem to be constant?

Abstract

The common assumptions that labor income share does not change over time or across countries and that factor income shares are equal to the elasticity of output with respect to factors have had important implications for economic theory. However, there are several theoretical reasons for why the elasticity of output with respect to reproducible factors should be correlated with the stage of development. In particular, the behavior of international trade and capital flows and the existence of factor saving innovations imply such a correlation. If this correlation exists and if factor income shares are equal to the elasticity of output with respect to factors then the labor income share must be negatively correlated with the stage of development. The existence of a labor intensive sector that produces non-tradable goods would explain why labor income share has no correlation with income per capita.     

中国现代部门劳动分配比例的变动趋势与影响因素——基于中国省级面板数据的分析

中国劳动分配比例的下降是由现代部门劳动分配比例的下降引起的。对中国1996—2004年省级面板数据的估计结果表明,中国现代部门劳动分配比例下降的根本原因是二元经济条件下的巨大就业压力、不断提高的劳均资本和人力资本、工会在保护劳动者权益方面的缺位。该结果对不同的模型设置和样本选择具有很强的稳健性。进一步的研究还发现,在低发展水平组,劳均资本对劳动分配比例的负面影响更大。     

Domestic Implications of a Global Labor Market

Conventional thinking about labor markets has been slow to adjust to the reality of labor in a context of a global rather than a closed, national economy. Liberalization of international trade and capital flows has made substitution of foreign for domestic labor increasingly feasible. This has put downward pressure on reservation wages of unemployed workers. Also, the relatively easy substitution of foreign and domestic manufactured products relative to services has led to a dual economy in which manufacturing employment has been severely impacted by foreign competition while service employment has not. This has been amplified by the U.S.’ comparative advantage in high education and skills, which tends to be more characteristic of services than of manufacturing. This implies that low-skilled workers will be increasingly left behind unless they upgrade their skills in an increasingly competitive global economy. JEL Classification J400,F410     

国际贸易、技术变动对我国工业部门劳动收入份额的影响

文章较为系统地分析了国际贸易、技术进步等因素对中国工业部门劳动收入份额的影响。研究显示在1999～2009年期间,我国工业部门的劳动收入份额总体上呈现出缓慢下降的趋势,工业部门劳动收入份额变动主要是行业内部劳动力再配置的结果;利用中国工业部门21个细分行业的面板数据,通过系统广义矩方法对国际贸易、技术变革对行业劳动收入份额的影响进行计量分析表明,国际贸易具有较为显著的提高我国工业部门行业劳动份额的效应,而技术进步则存在显著降低工业行业劳动份额的效应,这与我国工业部门在研究期内的技术进步具有劳动节约型特征有关。     

Institutions,Corporate Governance and Capital Flows

Countries with weaker domestic investor protection hold less diversified international portfolios. An equilibrium business cycle model of North-South capital flow with corporate governance frictions between outside investors and corporate insiders explains this phenomenon through two channels. First, weak governance leads to concentrated ownership in the South because international diversification by insiders is penalized by lower stock market valuation. This reduces the float portfolio, or the supply of South assets. Second, weak governance tilts the demand of South outside investors towards domestic assets to hedge labor income risk. This is due to a higher share of labor in income, which increases labor income risk. In addition, the dynamics of investment under insider control leads relative dividend and labor income to be more negatively correlated in the South, making domestic assets a better hedge against local labor income risk. I find that the insider ownership and hedging channels are responsible for at least 29% and 11%, respectively, of the cross-country variation in international diversification. Thus, weak institutions lower international diversification primarily through concentrated ownership of firms, with outsider hedging also playing a quantitatively significant role.     

Wealth Distribution,Elasticity of Substitution and Piketty: An ‘Anti‐Dual’ Pasinetti Economy

This paper studies the dynamics of wealth distribution between workers and capitalists in a neoclassical growth model with differential saving rates. It shows that if capitalists are thriftier than workers and the factors elasticity of substitution is high enough to ensure endogenous growth, capitalists’ share of total wealth asymptotically tends to one. It is also proved that a tax on capital income shifts the long run distribution of wealth in workers’ favor, and that the capitalists’ share of total wealth is a decreasing function of the tax rate. The results of the paper are compared to Piketty's ‘fundamental laws’ of capitalism.