The Employment Effect of Domestic-Foreign Capital Interaction in Dual Circulation and Its Decomposition
This article utilizes the OECD's Global Regional Input-Output data and its complementary employment data from 2000 to 2019 to examine the impact of China's dual circulation strategy on employment at national,industrial,and enterprise levels.Using a framework that decomposes employment effects of internal and external circulation dynamics,the study finds that during the study period,China's internal circulation and its employment effects take the lead at all levels.Across various types of external circulation,participation in complex external circulation has a greater contribution on employment as compared with simple external circulation,albeit its heterogeneity across industries and enterprises.Specifically,the service sector's dual circulation has an increasing employment impact,as a major employment engine.While the employment impact of the agricultural sector's dual circulation declines over time,it remains second and serves as an important employment stabilizer.The manufacturing sector,ranking the third in employment impact from dual circulation,exhibits no significant change and acts as a stable employment provider.At enterprise level,domestic-domestic enterprises'internal circulation contributes most and increasingly to the added values and employment.Meanwhile,domestic-foreign and foreign-foreign enterprises'circulations have slightly declining employment impacts,yet their contributions remain substantial.The results of Structural Decomposition Analysis(SDA)indicate that the positive employment effects of intermediate supply and final demand offset the negative ones from labor productivity and added value rate,ensuring a stable employment growth.The employment impact of various factors exhibits heterogeneity across industries and over time.The article concludes with policy propositions on promoting high-quality and full employment.
Dual CirculationDomestic and Foreign EnterprisesEmploymentInput-Output AnalysisStructural Decomposition Analysis
NETL
NSTL
万方数据
