Capital–Labor Ratios and Total Factor Productivity in the Balassa–Samuelson Model

The paper investigates the relationship between sectoral capital–labor ratios and total factor productivity (TFP) in the context of the Balassa–Samuelson model. It is shown that, under certain assumptions, the model implies that both traded- and nontraded-goods sectors' capital–labor ratios should be cointegrated with the traded -goods sector's TFP. Evidence from an intersectoral database for 14 OECD countries broadly supports this implication of the model. In addition to shedding light on the evolution of sectoral capital–labor ratios, the results also alleviate concerns regarding the reliability of capital stock data.     

Foreign Human Capital and Total Factor Productivity: A Sectoral Approach

We analyze the role of migrants in productivity growth in the three largest European countries—France, Germany and the United Kingdom—in the years 1994–2007, using Total Factor Productivity. Unlike previous research, which mainly employs a regional approach, our analysis is at the sectoral level: this allows to distinguish the real contribution of migrants to productivity from possible inter-sectoral complementarities, which might also foster growth. We control for the share of migrants and the different components of human-capital, such as education, age and diversity, and adopt instrumental variables strategies to address the possible endogeneity of migration. The results show that migrants contribute to the productivity of the sectors in which they are employed, but with important differences: highly-educated migrants show a larger positive effect in high-tech sectors, and to a lesser extent in services sector. The diversity of countries of origin contributes to productivity growth only in the services sectors.     

国产化政策与全要素生产率——来自汽车零部件制造业的证据

产业政策是否有效已成为当下学术界的热点话题.文章聚焦2005年中国汽车工业国产化政策,并结合同时期的税收减免政策,利用2002-2007年中国汽车零部件和整车制造业的微观数据,实证分析其对企业全要素生产率的影响.研究发现:(1)整车厂商对零部件厂商的纵向技术溢出效应是国产化政策提升零部件企业全要素生产率的主要机制,但市场规模的扩张和短期内市场垄断程度的上升也使零部件企业产生了技术改进的惰性;(2)国产化政策对企业生产率的影响在不同所有制企业之间存在差异:内资企业、非国有企业更多地从整车厂商的技术溢出中获益,外资企业则更多地从市场规模的扩大中获益,国有企业生产率受该政策影响不显著;(3)国产化政策与同一时期税收减免政策之间的关系存在两面性.国产化政策下,受税收减免的FDI向本土零部件企业发生了更多的技术转移,受税收减免的企业本身却缺乏效率改进的动力.上述结论带给新一轮中国工业改革的启示是:国产化政策在一定范围内仍然是有效的,特别是对高端装备制造业等战略新兴产业,政策导向有利于为新产业主体建设打下基础;但是产业政策同样不应被过度使用,制定政策应该重视政策工具在不同阶段的有机组合,取长补短,使各产业政策形成合力进而保证企业效率的提升.     

Outward FDI,Total Factor Productivity and Domestic Output: Evidence from Germany

This paper examines the impact of outward FDI on domestic output and total factor productivity by applying cointegration techniques to macroeconomic time series data for Germany. We find a positive relationship between outward FDI and domestic output as well as between outward FDI and total factor productivity. Furthermore, our results indicate that there is bidirectional causality between outward FDI and domestic output, and outward FDI and total factor productivity, suggesting that increased output and productivity are both a consequence and a cause of increased outward FDI. Overall, the results of this paper can be interpreted as evidence of productivity-enhancing, and thus growth-enhancing, effects of outward FDI, which is inconsistent with the simplistic idea that outward investment represents a diversion of domestic economic activity.     

Intangible Capital and Labor Productivity Growth: Panel Evidence for the EU from 1998–2005

Using new international comparable data on intangible capital investment by business within a panel analysis between 1998 and 2005 in an EU country sample, a positive and significant relationship between intangible capital investment and labor productivity growth is detected. This relationship proves to be robust to a range of alterations. The empirical analysis confirms previous findings that the inclusion of business intangible capital investment in the asset boundary of the national accounting framework increases the rate of change of output per hour worked more rapidly. In addition, intangible capital is able to explain a significant portion of the unexplained international variance in labor productivity growth, and becomes a dominant source of growth.     

基础设施投资与中国全要素生产率——基于自主研发和技术引进的视角

本文利用2004~2013年中国30个省份的面板数据,采用DEA-Malmquist指数法测算各省份全要素生产率及其构成,并借助动态面板模型从基础设施投资角度分析自主创新和技术引进对全要素生产率的实际贡献度。研究结果表明:我国基础设施投资能够有效促全要素生产率的提高,且在促进全要素生产率提高的途径方面存在差异性影响。具体来说,基础设施投资在一定程度上对自主研发产生挤出效应,弱化了自主研发对全要素生产率的积极作用;而对技术引进则存在一定的促进作用,能够增强技术引进对全要素生产率的正向效应。     

Refugee Immigration and Total Factor Productivity

This paper uses panel cointegration and causality techniques to examine the long-run relationship between refuge immigration and total factor productivity (TFP), a relationship that has not yet been examined in the literature. It is found that refugee immigration has, on average, a positive long-run effect on TFP, suggesting that refuge immigration increases the diversity of skills and ideas available to society as a whole, which in turn promotes specialization and innovation. It is also found that causality is unidirectional from refugee immigration to TFP, suggesting that refugees are primarily motivated by the push factor of persecution in the source country rather than by productivity (and hence welfare) gains as a potential pull factor in the destination country.     

收入分配不公平与全要素生产率——基于中国上市制造企业数据的经验分析

基于2001—2017年A股上市制造企业数据,探究了普通职工收入分配不公平对企业全要素生产率的影响。研究结果表明:普通职工收入分配不公平明显制约了企业全要素生产率的提升;资本劳动比弱化了普通职工收入分配不公平对企业全要素生产率的负向影响;相对于资本密集型企业,技术密集型和劳动密集型企业的全要素生产率更易受到普通职工收入分配不公平的影响;普通职工收入分配不公平通过影响技术水平和管理成本的方式作用于全要素生产率。     

Capital–labor substitution and balanced growth

This paper explores how different values of the elasticity of substitution between capital and labor (σ) impact on the balanced growth paths and growth potential of a country in exogenous growth models. The behavior of the system depends on the value of σ and the passage of σ through two critical values causes a qualitative change in the nature of the singular points and of its trajectories. The balanced growth path defined by a singular point in the form of a saddle-path exists and is locally stable if σ lies between two critical values.     

Capital–skill complementarity and inequality: A sensitivity analysis

Krusell et al. in [Krusell, P., Ohanian, L., Ríos-Rull, J.V., Violante, G.L., 2000. Capital–skill complementarity and inequality: A macroeconomic analysis. Econometrica 68 (5), 1029–1053] analyzed the capital–skill complementarity hypothesis as an explanation for the behavior of the US skill premium. We refit Krusell et al.'s [Krusell, P., Ohanian, L., Ríos-Rull, J.V., Violante, G.L., 2000. Capital–skill complementarity and inequality: A macroeconomic analysis. Econometrica 68 (5), 1029–1053] model with two alternative capital equipment price series: One proposed by Greenwood et al. [Greenwood, J., Hercowitz, Z., Krusell, P., 1997. Long-run implications of investment-specific technological change. Amer. Econ. Rev. 87 (3), 342–362] and the official, revised National Income and Product Accounts (NIPA) data. We find that capital–skill complementarity is preserved, but other results were sensitive to the data used. Specifically, the fit of the model was similar to Krusell et al.'s [Krusell, P., Ohanian, L., Ríos-Rull, J.V., Violante, G.L., 2000. Capital–skill complementarity and inequality: A macroeconomic analysis. Econometrica 68 (5), 1029–1053] using the NIPA data, but not the Greenwood et al. [Greenwood, J., Hercowitz, Z., Krusell, P., 1997. Long-run implications of investment-specific technological change. Amer. Econ. Rev. 87 (3), 342–362] data. Also, both series produce estimates of the elasticity of substitution between unskilled labor and equipment that are substantially larger than Krusell et al.'s [Krusell, P., Ohanian, L., Ríos-Rull, J.V., Violante, G.L., 2000. Capital–skill complementarity and inequality: A macroeconomic analysis. Econometrica 68 (5), 1029–1053] estimates.     

Intersectoral and International R&D Knowledge Spillovers and Total Factor Productivity

Disaggregate panel data estimates are presented of equations that relate a set of OECD countries' sectoral total factor productivity to domestic and to foreign R&D capital. The estimates indicate that there are both important international and national R&D knowledge spillovers and that these spillovers are intersectoral and intrasectoral in nature. They show that the influence of domestic R&D is stronger in the large economies and that this is caused by more important domestic intersectoral R&D spillovers. There is also evidence of a greater influence of domestic and of foreign R&D in research intensive industries and of an interaction between the domestic economy scale and the research intensity effects.     

中国的地区专业化与全要素生产率——基于省级面板数据的分析

基于1999-2006年省级面板数据的分析显示,中国的地区专业化水平处于持续提高的阶段;对地区专业化与全要素生产率的相关分析表明,地区专业化的发展对于地区全要素生产率的提高具有正向的推动作用。中国仍处在由地区专业化推动的效率递增阶段;地区专业化的发展提高了地区对于自主研发成果的吸收能力,有利于自主研发技术推动作用的充分发挥,但它并没有改善对于外商直接投资技术溢出效应的吸收效果,甚至显现了负面的影响。     

财政分权对全要素生产率的影响--基于“省直管县”改革的准自然实验

"省直管县"改革一改以往"省-市-县"的管理模式,有助于提高县级政府的财政分权水平。为缓解内生性,将"省直管县"改革视为一项准自然实验,构建双重差分模型检验了财政分权对全要素生产率的因果效应。研究发现:①财政分权对全要素生产率的正向促进作用高于负面阻碍作用,但不同形式的分权影响有异质性,具体来说财权的下放有利于全要素生产率的提高,经济社会事务管理权限的下放则不利于。②当地方政府自主权提高时,其"重生产、轻服务"的支出偏好,使得当地基础设施供给增加,而能够增强地方软实力、加快创新要素集聚的公共服务供给相应减少,造成了全要素生产率的损失,导致在经济高质量高效益增长中政府"有形之手"的作用发挥不够。③随着改革的推进,财政分权对全要素生产率的正向作用逐渐减弱,并不再显著。据此,从合理划分省以下政府的事权与支出责任,充实基层政府财力;提高公共服务类指标在政府官员政绩考核中的权重,加强各县(市)政府间的合作,实现各自为政的地方经济向统一市场整合等方面提出政策建议。     

人力资本与区域全要素生产率分析

本文采用Malmquist指数分析了我国30个省级行政区1996—2003年的全要素生产率(TFP)增长,并将其分解为技术进步指数和效率变化指数。为了减少计算偏差,我们在使用承认无效率项存在的生产前沿技术的同时,引入了人力资本要素。本文的分析结果表明我国的人力资本水平增长迅速,30个省区的经济增长效率差距逐年扩大。同时我们发现在引入人力资本要素后,1996—2003年区域全要素生产率的增长得益于技术进步;如果不考虑人力资本存量,则低估了同期的效率提高程度,而高估了期间的技术进步指数。     

Total Factor Productivity and Efficiency of Australian Airports

By using a Malmquist total factor productivity index and data envelopment analysis it is possible to investigate the efficiency and productivity of Australian airports during the 1990s. The results from this analysis indicate that these airports recorded strong growth in technological change and total factor productivity, but did not fare all that well in terms of growth in technical and scale efficiency during the 1990s. At the international level it appears that Australia's largest airports fare reasonably well in comparison to airports overseas, although they still possess the potential to realise further gains.     

Capital–skill complementarity and the immigration surplus

We build a neoclassical growth model with overlapping dynasties and capital–skill complementarities to evaluate changes in immigration policy. Calibrating the model using US data, we quantify the differential effects of skilled and unskilled immigration on factor returns and on the welfare of different sectors of the population. An influx of high-skilled immigrants lowers the wages of skilled workers, raises the wages of unskilled workers, and because of the relative complementarity between capital and skilled labor, substantially raises the rate of return to native-owned capital. By contrast, an influx of unskilled immigrants produces an opposite effect on wages, and has only a negligible effect on the return to capital. Because of capital–skill complementarity, an increase in the number of skilled immigrants generates an immigration surplus—the overall welfare benefit accruing to the native population—that is approximately ten times larger than the immigration surplus generated by an identical increase in the number of unskilled immigrants. This differential welfare effect is far higher than can be accounted for by the disparity between the productivities of each type of worker.     

集聚经济、公共基础设施与劳动生产率——来自中国城市动态面板数据的证据

文章采用2001-2007年中国城市面板数据实证检验了集聚经济、公共基础设施与城市非农劳动生产率的关系。结果表明:在控制住其他影响因素后,一个地区的就业密度和公共基础设施对其非农劳动生产率都有着显著为正的影响,但在忽略城市公共基础设施的情况下,集聚经济的估计值明显偏高了。     

Rural–Urban Migration,Substitutability of Human Capital and City Productivity: Evidence from China

Among the studies on the productivity effect of migration, the role of the substitutability of human capital between migrant workers and local workers has not received much attention. The elasticity of substitution is important for rural–urban migration in China, because there is a substantial difference in schooling quality between rural and urban regions and because there is imperfect competition in city labor markets. Using aggregate city‐level data from the 2010 China Population Census, we find that the positive effect of human capital on city productivity improves as the substitutability increases. Moreover, a grid‐search shows that the “best” estimate of the substitutability in China is between 2.1 and 2.5, far from being complete.     

开放经济下知识资本与全要素生产率——国际经验与中国启示

本文就知识资本对全要素生产率的影响效应进行比较分析,文中把国内知识资本分为研发资本、人力资本、创新设施资本和技术资本以及国外知识资本分为进口和FDI溢出知识资本,以130个经济体1981—2010年间的面板数据,依据系统聚类法将130个经济体划分为创新领导型、创新追赶型和创新缓慢型三类俱乐部样本,运用宏观知识生产函数模型对知识资本与全要素生产率的影响效应进行了实证检验。结果显示:国内知识资本和国外知识资本的溢出都是影响全要素生产率提升的重要因素,但是不同知识资本要素对不同创新经济体全要素生产率的影响存在明显差异:研发资本、技术资本和FDI渠道对创新领导俱乐部的促进作用大于创新追赶和创新缓慢俱乐部;人力资本和进口渠道对创新追赶俱乐部的促进作用大于创新领导和创新缓慢俱乐部;创新设施资本和技术差距对创新缓慢俱乐部的促进作用大于创新领导和创新追赶俱乐部。我国正处在创新追赶型国家向创新领导型国家转变的重要阶段,创新政策的重点应促进国内外各创新资源的有效配置,增强知识资本投入产出能力,加快提高全要素生产率。