International Flows of Technology Capital and China's Manufacturing Labor Income Share:A Quantitative Assessment Based on International Patent Data
Due to the increasingly frequent international flows of technology capital,this paper constructs a general equilibrium model to analyze its impact on labor income share.Using the patent data of China and the United States from 2000 to 2016 for parameter calibration,the paper quantifies China's technology capital openness degree and empirically verifies the impact of international flows of technology capital on China's manufacturing labor income share.The research shows that international flows of technology capital affect labor income share through the relative price effect of factors and the structure effect of factor inputs,and the combined effect of the two will have a negative impact on China's manufacturing labor income share.Furthermore,empirical research reveals that labor income share of the industries with high capital intensity,high proportion of state-owned enterprises and low trade dependence as well as the industries located in the central and western regions will be more negatively impacted.After taking into account the factor of time,it is found that the positive impact of technology capital is being strengthened.The conclusions of this paper have positive significance for increasing labor income share and realizing Chinese modernization of common prosperity for all.
technology capitalinternational flowspatenttechnology capital openness degreelabor income share
万方数据
维普
