CAJ | 학술논문

本文通过生产函数和联立方程模型，发现在非农就业增长、投资和劳动报酬占比之间存在着密切的相互联系和影响：在劳动力从农业部门转移到现代部门的过程中，由于未能获得与其边际产出相等的工资报酬，使得劳动报酬占比下降而资本所得份额上升，资本所得份额的上升促进了投资，投资的增加保证了非农就业的持续增长。我们通常把劳动报酬占比下降和高投资率视为中国经济失衡的表现之一并给予特殊关注，但是，本文所揭示的劳动报酬占比变化的内在机制不仅反映了中国经济增长的一些典型特征，也表明高投资率和劳动报酬占比下降并不是经济失衡的表现，它们是非农就业增长的必然结果，也是保证非农就业持续增长的关键原因。劳动报酬占比的下降虽然恶化了居民之间的收入分配，却是中国经济模式所必须经历的发展阶段。
본문통과생산함수화련립방정모형，발현재비농취업증장、투자화노동보수점비지간존재착밀절적상호련계화영향：재노동력종농업부문전이도현대부문적과정중，유우미능획득여기변제산출상등적공자보수，사득노동보수점비하강이자본소득빈액상승，자본소득빈액적상승촉진료투자，투자적증가보증료비농취업적지속증장。아문통상파노동보수점비하강화고투자솔시위중국경제실형적표현지일병급여특수관주，단시，본문소게시적노동보수점비변화적내재궤제불부반영료중국경제증장적일사전형특정，야표명고투자솔화노동보수점비하강병불시경제실형적표현，타문시비농취업증장적필연결과，야시보증비농취업지속증장적관건원인。노동보수점비적하강수연악화료거민지간적수입분배，각시중국경제모식소필수경력적발전계단。
Based on the researches about the production function and the simultaneous equation model, we find the close interrelationship among non-agricultural employment increase, investment and the labor income share. While in the process of the labor transfer from traditional agricultural sector into the modem sector, the labor can not get equal pay with their marginal product, so the labor income share decreases and the capital share increases. And then capital share increase will stimulate investment further and ensure continued growth in non-agricultural employment. As usual, the labor income share decrease and high investment rate represent the economic imbalance in China. But the inherent mechanism of the labor income share variations from our study not only reflects some typical characteristics of Chinese economic growth, but also shows that the high investment rate and labor income share decrease do not represent the economic imbalance. They are the outcomes of the non-agricultural employment increase and key reasons that ensure continued growth in non-agricultural employment. Although the decreasing of the labor income share is unfair to income distribution among the residents, it is the stage of development of Chinese economy that we have to hold.