珠三角地区资本结构与劳资关系的实证研究

根据资本-劳动替代的“拐点论”，经济发展的初期总是伴随着物质资本的积累，物质资本将在相当长的时期占据经济增长的主导地位；由于资本劳动的边际替代率递减，当物质资本积累处于一定阶段，产生对人力资本更多需求，人力资本则成为这个时期的主要资本；只有在经济持续发展，政治文明发展到一定程度，信任、规范、网络和社会公德等社会资本才有可能成为推动经济发展的主导力量。珠三角地区城市的劳资关系在近30年均处于下降趋势，物质资本总体处于上升趋势，人力资本意义上的劳动力尤其是高层次高素质的劳动力较缺乏；社会资本可以显著的促进物质资本和人力资本的积累，物质资本水平的提高并不必然产生人力资本积累和社会资本积累的结果，人力资本积累也不必然促进社会资本的发展。需要转变经济发展方式，为资本演化创造物质条件，促进人力资本和社会资本积累，并在企业管理层面上促进合作型劳资关系的形成。

An Empirical Study of the Capital Structure and labor relations in Pearl River Delta

According to the capital - labor substitution ＂ turning point＂ theory, the early stages of economic development is always accompanied by the accumulation of physical capital. The physical capital will take the dominant position in a long period of economic growth. Because of the marginal substitution rate of capital -labor diminishing, when the material capital accumulates at a certain stage which results in more demand for human capital, human capital will become the main capital during this period. Only when the political civilization developes to a certain extent, social capital, such as trust, norms, networks and social ethics may become the leading force in promoting economic development. In Pearl River Delta cities, the average annual labor relations in the last 30 appear downward trend, physical capital upward trend. The human capital, especially high - level and high - quality labor force is in short. The social capital can significantly promote the physical capital and human capital accumulation, raising the level of physical capital does not necessarily pro duce the accumulation of human capital and social capital accumulation results, human capital accumulation does not necessarily promote the development of social capital. Some policies are need to change the mode of economic development, to create material conditions for the evolution of capital, to promote the accumulation of human capital and social capital. Enterprise should also promote the formation of cooperative labor relations.