Labor Industry Allocation, Industrial Structure Optimization, and Economic Growth
Industrial structure optimization is an important explanatory variable of economic growth. The allocation of production factors among industries affects the evolution of industrial structure and then acts on economic growth. Labor force is one of the most important factors of production. In recent y...
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| Format: | Article |
| Language: | English |
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Wiley
2021-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2021/5167422 |
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| _version_ | 1832561589608251392 |
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| author | Liyuan Shi |
| author_facet | Liyuan Shi |
| author_sort | Liyuan Shi |
| collection | DOAJ |
| description | Industrial structure optimization is an important explanatory variable of economic growth. The allocation of production factors among industries affects the evolution of industrial structure and then acts on economic growth. Labor force is one of the most important factors of production. In recent years, there has been a significant wage difference between different industries in China’s labor market, and the employees have shifted from low-wage industries to high-wage industries. Using the sample data of 282 prefecture-level cities from 2008 to 2018, this paper tests whether this wage-guided labor industry allocation will affect economic growth and whether there is an intermediary effect of industrial structure optimization. The empirical results show that the allocation of labor force to high-wage industries not only directly hinders economic growth but also indirectly hinders economic growth through the intermediary effect of industrial structure optimization. Furthermore, this paper makes a comparative study in different regions. The research conclusion shows that promoting the optimization of industrial structure and economic growth depends on correcting the price distortion of labor market and guiding the cross-industry rational allocation of labor force. |
| format | Article |
| id | doaj-art-beb0ccafce004645bf7106be8b24f467 |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2021-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-beb0ccafce004645bf7106be8b24f4672025-02-03T01:24:42ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2021-01-01202110.1155/2021/51674225167422Labor Industry Allocation, Industrial Structure Optimization, and Economic GrowthLiyuan Shi0Beijing Union University, Beijing 100025, ChinaIndustrial structure optimization is an important explanatory variable of economic growth. The allocation of production factors among industries affects the evolution of industrial structure and then acts on economic growth. Labor force is one of the most important factors of production. In recent years, there has been a significant wage difference between different industries in China’s labor market, and the employees have shifted from low-wage industries to high-wage industries. Using the sample data of 282 prefecture-level cities from 2008 to 2018, this paper tests whether this wage-guided labor industry allocation will affect economic growth and whether there is an intermediary effect of industrial structure optimization. The empirical results show that the allocation of labor force to high-wage industries not only directly hinders economic growth but also indirectly hinders economic growth through the intermediary effect of industrial structure optimization. Furthermore, this paper makes a comparative study in different regions. The research conclusion shows that promoting the optimization of industrial structure and economic growth depends on correcting the price distortion of labor market and guiding the cross-industry rational allocation of labor force.http://dx.doi.org/10.1155/2021/5167422 |
| spellingShingle | Liyuan Shi Labor Industry Allocation, Industrial Structure Optimization, and Economic Growth Discrete Dynamics in Nature and Society |
| title | Labor Industry Allocation, Industrial Structure Optimization, and Economic Growth |
| title_full | Labor Industry Allocation, Industrial Structure Optimization, and Economic Growth |
| title_fullStr | Labor Industry Allocation, Industrial Structure Optimization, and Economic Growth |
| title_full_unstemmed | Labor Industry Allocation, Industrial Structure Optimization, and Economic Growth |
| title_short | Labor Industry Allocation, Industrial Structure Optimization, and Economic Growth |
| title_sort | labor industry allocation industrial structure optimization and economic growth |
| url | http://dx.doi.org/10.1155/2021/5167422 |
| work_keys_str_mv | AT liyuanshi laborindustryallocationindustrialstructureoptimizationandeconomicgrowth |