Research On Total Factor Productivity And Labor Misallocation In Chinese Industrial Enterprises

At present,China depends on stimulating demand and factor inputs to promote economic growth,which has been constrained by multiple factors such as rising resources,environment,and labor costs.Increasing total factor productivity will become the main driving force for economic growth,and simply relying on technological progress can no longer meet the demand for rapid increase in total factor productivity.The rational allocation of resources also has a significant effect on the improvement of total factor productivity.Therefore,this paper multi-dimensionally measures and analyzes the total factor productivity and labor mismatch of different industries,regions,and ownership enterprises in China,and the potential for total factor productivity development using the data of industrial enterprises from 1998 to 2007.The following conclusions are obtained: First,during the sample period,the total factor productivity of the light industry was higher than that of the heavy industry.The total factor productivity of the eastern region was higher than that of the western region.The total factor productivity of foreign-invested enterprises was higher than that of the state-owned enterprises.Factor productivity showed a steady growth trend,with an increase of 19.11% in 10 years,and the average TFP growth rate was the highest in the western region and the lowest in the eastern region,indicating that the TFP levels in different provinces across the country showed a convergence trend.Second,the labor misallocation in heavy industry companies is higher than that of light industry.The degree of misallocation of labor in monopoly industries is higher than that of non-monopoly companies.The degree of misallocation in the eastern region is significantly lower than that in the central and western regions.Foreign-invested enterprises and mixed The degree of labor misallocation in ownership enterprises is relatively low,while the labor misallocation in state-owned enterprises and collective enterprises is relatively high.In addition to external factors such as different industries,regions,and ownership,the impact of the company's labor mismatches,the company's internal factors such as the age of the company,employee insurance and the proportion of exports will affect the extent of labor mismatches,which increase employee insurance and exports The weighted amount will reduce the degree of labor mismatch.Third,by measuring and analyzing the development potential of total factor productivity,if China's labor input factors can be rationally allocated,then during the sample period,total factor productivity can increase by 5%-9%,and state-owned enterprises' total factor productivity development potential.Significantly higher than foreign-invested companies.Based on the results of calculation and analysis,the following policy recommendations are proposed: deepening market economic reforms,including further deepening the reform of state-owned enterprises and continuing to deepen the market-oriented reform of the financial system,and establishing a fair development mechanism;creating employment opportunities,broadening the channels of employment;improving the minimum wage mechanism,which includes shortening the time interval for adjusting the minimum wage standard,implementing a differentiated minimum wage standard,ensuring that it is implemented in order to guarantee the legitimate rights and interests of the labor force;and constructing a multi-level education and training system to increase the competitiveness of the labor force factor.