| In 2015,China's per capita GDP stepped across the threshold of 8,000 dollars firstly and entered into the ranks of so-called middle income countries.At the same time that China's economy keeps continuous growth,the rate of economic growth shows a trend of gradual slowdown and always maintains a trend of a medium-to-high rate of growth in a long term.However,China's income gap shows a trend of an overall extension,including the gap between urban and rural areas,between regions,between industries,between classes and so on,which seriously affects the improvement of the residents' consumption level and the quality of economic growth.In 2003,China's gini coefficient was 0.479 and it had reached 0.491 by 2008.Although it fell to 0.473 in 2013,it still exceeded the internationally recognized warning line of 0.4.The distensible income distribution gap means that the social welfare created by China's rapid economic growth has not been shared equally by all the residents through the income diffusion mechanism.This phenomenon has been highly concerned by the government.The 18 th National Congress of the Communist Party of China put forward the policy of "doing everything possible to increase residents' income,striving to synchronize the growth of residents' income with the economic development and to synchronize the increase of labor remuneration with the increase of labor productivity,increasing the proportion of residents' income in the national income distribution and increasing the proportion of labor remuneration in the primary distribution"."Fairer" was written into the party congress report,which further deepened the people-oriented concept.In the field of the income distribution,“fairer” means to avoid large and deep income distribution irrationality and large gap between the rich and the poor in the development of socialist market economy.Then,how do we explain the situation that the rapid growth of China's economy coexists with its continuously distensible or too large income distribution gap? Most existing researches choice a single view to analyze,for example urban and rural areas,regions and industries,the effect of the income distribution on economic growth,while few paper investigates the relationship between the income distribution gap and the economic growth from all aspects.In addition,there's no tight combination with the characteristic of one country's or region's economic growth itself to study deeply by what mechanism the income distribution gap impacts economic growth,leading that the result cannot reflect the real situation of one country.In view of this,this paper choices the residents' income distribution gap and economic growth as the research object.Firstly,the paper constructs a theoretical model of the impact of the residents' income distribution gap on economic growth,from the aspects of technological innovation,consumption level,capital market,human capital,industry structure upgrade and social stability mechanism,to study the effect mechanism of residents' income distribution gap on economic growth.Secondly,from the aspects of the urban-rural differentiation,regional heterogeneity,industrial heterogeneity and different types of economic organizations,this paper carries out detailed research on the income distribution gap.It researches China's economic growth from the two aspects of different development stages of every province and region and the trend forecast of China's future economic growth,and at the same time researches the relationship between the income distribution gap and economic growth by scatter diagram.Thirdly,the paper researches the direction and degree of the impact that the income distribution gap between urban and rural residents and regional ones,the average wage of the workers of the three major industries and the average wage of workers in different economic types of the organizations have on economic growth through five mechanisms by panel data,and gives a reasonable explanation based on China's specific situation.Fourthly,the paper summarizes the real reasons on the impact of the change of income distribution gap on economic growth from positive and negative aspects.Finally,the paper puts forward suggestions directly on adjusting the income distribution gap reasonably and promoting economic growth.The results of the research show that:Firstly,the theoretical analysis of the impact of the income distribution gap on economic growth.(1)income distribution gap-the effect of the product market and the cash flow-innovation and labor productivity-economic growth(2)income distribution gap-consumption demand structure-investment demand-economic growth(3)income distribution gap-the distortion of the credit market and the fiscal policyindustrial structure-economic growth(4)income distribution gap-human capital structure and scale effect-technological progress-economic growth(5)income distribution gap-consumption demand-industrial structure-technological innovation-economic growth(6)income distribution gap-social stability-economic growth.Secondly,the analysis of the current situation of the income distribution and the economic growth in China.(1)The overall income distribution gap shows an increasing trend.(2)The income gap among groups of high income and low income of the city and town shrinks,while the same one enlarges in the countryside.The absolute and relative gap of the urban and rural income shows the trend of enlarging,the Engel coefficient of the city and town is larger than that of the countryside,and the every component of the income of the city and town residents is higher than that of the countryside.(3)The absolute gap of the urban and rural per capita income among every province is large,but the relative gap of the city and town fluctuates significantly.The per capita income gap of the city and town among different regions shows U shape,and the per capita income gap of the countryside among different regions shows inverted U shape.The income gap among the residents from the east and west shrinks slightly,the gap among the east and other regions shrinks,the absolute income gap of the countryside in the four major economic regions increases.The absolute and relative gap of the urban and rural income among every province in the four major economic regions show significant.(4)The contribution degree of the unequal income among different industries to the urban and rural income gap increases gradually.The income gap among different industries and regions shows significant,and they are successively the East>the West>the Middle>the Northeast.The industry monopoly and the human capital are the important factor that influences the industry average wage.The relative difference of the average wage of the urban organization between the industries and the regions is significant.(5)The difference of the increasing rate of the average wage among every economic type of organization is large,the average wage level of the enterprises,institutions and agencies increases persistently,and the income gap becomes small among the three major organizations.(6)More than one third of areas in China successfully entered the middle-high income stage in 2016,it is very likely to reach the high income level in 2020,half of the provinces will reach the high income level in 2021,and will enter into the high income stage in 2021-2025,and most of the provinces will achieve the high income level in 2025.(7)China's overall income distribution gap and economic growth show inverted U shape.The urban and rural income gap and economic growth show the trend of first enlarging then shrinking and then stabilizing.The increasing rate of the income of the city and town residents and the increasing rate of per capita GDP changed at the same ratio.The relative gap of the increasing rate of the countryside residents income with the one of the per capita GDP is large.The income gap and the district economic balance improve at the same time,the inflection point of the change of the district inequality may be arise.The average wage gap of the industry staff and the per capita GDP show inverted U shape.The staff wage of the ownership organization and the per capita GDP increase at the same time.The ratio of the staff of the office and the enterprise and the one of the public institution and the enterprise have a negative effect on the per capita GDP,while the ratio of the office and the public institution and the per capita GDP show U shape.Thirdly,the empirical analysis of the impact of the income distribution gap on economic growth.(1)On the urban-rural level:(1)The urban and rural income gap and the economic growth show U shape with the inflection point 0.205.The annual average value of the urban and rural income gap on the current stage is 0.144,which is in the left half of the U-shaped curve.(2)Technological innovation,per capita consumption and the economic growth are negatively correlated significantly.Financial development level,human capital accumulation and economic growth significantly show positive correlation.Industrial structure upgrade is positively correlated with economic growth.(3)Technological innovation embedding has negative adjustment effect on the relationship between them.The per capita consumption and industrial structure upgrade embedding has positive adjustment effect on them.The financial development level and human capital embedding has significantly negative adjustment effect.(2)On the regional level:(1)The income gap in the eastern and central regions is in a U-shaped relationship with the economic growth,with the inflection points of 0.129 and 0.234 respectively,and the urban and rural income gap in the east and central regions is negatively correlated with the economic growth at the present stage,which is in the left half of the U-shaped curve(0.091 and 0.130).The urban and rural income gap in the western region and the economic growth show inverted U shape with the inflection point-0.032,and at the present stage the western urban and rural income gap is negatively correlated with the economic growth,which is in the right half of the U-shaped curve(0.201).(2)The eastern technological innovation,per capita consumption,the industrial structure upgrade are negatively correlated with the economic growth.Financial development level,human capital accumulation have significant positive correlation with the economic growth.Technical innovation and financial development level embedding have a positive adjustment effect on them,the per capita consumption embedding has a significant positive adjustment effect on them,the human capital accumulation embedding has a significant negative adjustment effect on the relationship between them,and industrial structure upgrade embedding has a negative adjustment effect on the relationship between them.(3)Technological innovation,per capita consumption and the economic growth in the central region are negatively correlated.Financial development level,human capital accumulation and economic growth have significantly positive correlation.Industrial structure upgrade is positively correlated with economic growth.Technological innovation and human capital embedding has a positive regulating effect on the relationship between them,per capita consumption embedding has a significant positive regulating effect,and financial development level and industrial structure upgrade embedding have a negative regulating effect on the relationship between them.(4)Technological innovation and per capita consumption in the western region are negatively correlated with economic growth significantly.The level of financial development is positively correlated with economic growth.Human capital accumulation is positively correlated with economic growth.Industrial structure upgrade is negatively correlated with economic growth.Technological innovation embedding has a negative regulating effect on the relationship between them,per capita consumption embedding has a positive regulating effect on the relationship between them,financial development level and human capital accumulation embedding have a significant negative regulating effect on the relationship between them,and industrial structure upgrade embedding has a significant positive regulating effect on the relationship between them.(3)On the industry level:(1)The average wage gap of employees in the inter-industry is negatively correlated with economic growth,while the average wage gap in the industry is positively correlated with economic growth.(2)The estimated result of the intra-industry shows that technological innovation,per capita consumption and economic growth are negatively correlated in the inter-industry,while financial development level,human capital accumulation and industrial structure upgrade are positively correlated with economic growth.Technological innovation embedding has significant negative adjustment effect on the relationship between them,per capita consumption embedding has significant positive adjustment effect on the relationship between them,financial development level embedding has positive adjustment effect on the relationship between them,human capital accumulation and industrial structure upgrade embedding have negative adjustment effect on the relationship between them.(3)The estimated results of the intra-industry show that technological innovation,per capita consumption and economic growth are negatively correlated significantly,while financial development,human capital and industrial structure are positively correlated with economic growth significantly.Technological innovation embedding has significant positive adjustment effect on the relationship between them,per capita consumption embedding has significant negative adjustment effect on the relationship between them,financial development embedding has negative adjustment effect on the relationship between them,human capital accumulation and industrial structure embedding have positive adjustment effect on the relationship between them.In addition,the role and the mechanism which the income distribution gap plays on the economic growth in every trade of the three major industries,the second intra-industry,the third intra-industry has difference to some extent.(4)On the economic type level:(1)There is a positive correlation between the average wage gap and economic growth among the three major economic types of the organization.(2)The estimation among the three major economic types of the organization shows that technological innovation,per capita consumption and economic growth are negatively correlated significantly.Financial development level,human capital accumulation and economic growth are positively correlated significantly.Industrial structure is positively correlated with economic growth.The embedded technological innovation has a significant positive regulating effect on the relationship between the average wage gap and per capita GDP.The embedding of per capita consumption and human capital accumulation has a negative regulating effect on the relationship between the average wage gap and per capita GDP.The embedded financial development has a positive regulating effect on the relationship between the average wage gap and per capita GDP.Industrial structure embedding has significant negative adjustment effect on the relationship between the average wage gap and per capita GDP.In addition,the effect and mechanism of the average wage gap of employees in the other seven types of organizations on economic growth are also different.Fourthly,the reason analysis of the impact of the income distribution gap on economic growth.The impact of the income distribution gap on economic growth is not simple and linear but changeable with times,that is,the smaller income distribution gap is better for economic growth,but the larger one hinders the economic growth.Specifically speaking,the expansion of the income distribution gap has stimulated the enthusiasm of the laborers,which is conducive to the accumulation of material capital and human capital and the realization of optimal allocation of resources.The too large gap in the income distribution leads to insufficient consumption,which is not conducive to material capital accumulation,industrial structure upgrade,human capital accumulation and social and political stability. |
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