摘要
作为再分配调节机制的主要手段之一,政府间转移支付在实现发展成果由人民共享方面起到重要作用。笔者利用1999—2007年中国工业企业数据库以及地市财政转移支付数据,系统性考察了中央对地方专项转移支付对劳动收入份额的影响,实证分析指出,专项转移支付占GDP之比每提高1个百分点,工业企业劳动收入份额平均下降0.747个百分点,政府转移支付规模扩大显著阻碍了劳动收入份额提升,并且这一结论在稳健性检验中均保持稳健。机制分析进一步得出,一方面,转移支付显著提高了资本要素的回报率,因此使得企业扩大固定资产投资,更偏向资本增强型技术进步;另一方面,转移支付也进一步削弱了劳动者的议价能力。最后,异质性分析结果表明,发展当地消费服务业能够有效缓解这一影响。
As one of pivotal means in redistribution mechanism,inter-government transfer plays an important role in sharing the development achievement by people from different region across China.Using Annual Survey of Industrial Enterprise and fiscal transfer data from 1999 to 2007,this paper systematically discusses how the fiscal transfer from central to local governments reshape the enterprises labor share(ELS).This paper demonstrates that when the ratio of earmarked transfer to GDP increases a percentage point,the ELS would decrease by 0.747 percentage points,which means the inter-government transfer significantly blocks the rising of ELS,and the results remain robust within a series of tests.The mechanism analysis shows that although the fiscal transfer s influence to the financing cost is trivial,it improves the ROA and hence leading to expansion of investment on fixed asset and capital-enhanced technology development.Besides,the fiscal transfer also empowers the monopsony in labor market.Finally,the heterogeneous result illustrates that the development of consumer-service sector may mitigate the negative effect of fiscal transfer.
出处
《中央财经大学学报》
CSSCI
北大核心
2023年第6期27-41,共15页
Journal of Central University of Finance & Economics
基金
国家自然科学基金重点项目“我国小城镇的转型发展与治理研究”(项目编号:71834005)
国家社会科学基金重大项目“深入实施区域协调发展战略研究”(项目编号:2021MZD011)。
作者简介
唐盟,男,1996年9月生,上海交通大学安泰经济与管理学院博士研究生,研究方向为财政理论与政策,联系方式为tangmeng8304@sina.com。
