| 金融抑制、经济结构扭曲与劳动收入份额下降 |
投稿时间：2016-03-20 修订日期：2016-03-20  点此下载全文 |
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| 基金项目:国家自然科学基金项目（面上项目，重点项目，重大项目） |
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| 中文摘要:是什么因素引发了全球范围劳动收入份额的普遍下降？本文尝试从金融抑制与经济结构扭曲的角度提供一个新的解释：催生于旧结构主义与赶超式发展战略的金融抑制政策扶持工业部门、压制服务业部门，造成偏向工业的经济结构扭曲，由于工业部门的劳动收入份额相对较低，这种扭曲将导致总体劳动收入份额下降。本文使用理论模型与基于跨国面板数据的实证检验证实了前述机理，在此基础上针对中国的研究发现，样本期中国的劳动收入份额显著低于模型预测值，且缺口趋于扩大；中国严重的金融抑制与经济结构扭曲状况可以解释劳动收入份额约三分之一的下偏。 |
| 中文关键词:金融抑制 经济结构 劳动收入份额 |
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| Financial Repression, Distortion of Economic Structure and the Declining Labor Share |
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| Abstract:This paper attempts to provide an explanation for the global decline of the labor share: Financial repression policies stemming from Structuralism and “Catch-Up” strategy suppresses the labor share through the channel of economic structure distortion. Based on the predictions of a theoretical model, we use cross-country panel data to show that financial repression supports the secondary sector and suppresses the tertiary sector, and an industry-biased structural distortion further leads to the decline of the labor share. A case study of China further indicates that there is a 6.18% gap between actual and predicted data of labor’s share of income during 1995 and 2005, and this gap tends to widen over time; counter-factual analysis proves that about 35.52% of its decline can be attributed to financial repression and distortion of economic structure. |
| keywords:Financial Repression, Distortion of Economic Structure and the Declining Labor Share |
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