《劳动合同法》、企业投资与经济增长
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| Title | Labor Law, Corporate Investment, and Economic Growth
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| 作者 | 潘红波 陈世来 |
| Author | Pan Hongbo and Chen Shilai |
| 作者单位 | 武汉大学经济与管理学院 |
| Organization | Economics and Management School of Wuhan University |
| 作者Email | phb@whu.edu.cn |
| 中文关键词 | 劳动合同法 产权性质 企业投资 劳动密集型行业 经济增长 |
| Key Words | Labor Law; Property Rights; Corporate Investment; Labor-Intensive Industries; Economic Growth |
| 内容提要 | 本文分析2008年《劳动合同法》是否会降低企业投资水平，并在宏观层面拖累中国经济增长。研究发现：《劳动合同法》对国有企业投资的影响较弱，但是会显著降低民营企业的投资水平；《劳动合同法》对民营企业投资的负面影响主要体现在劳动密集型行业。进一步的检验发现，《劳动合同法》对中国区域经济增长会产生负面影响，而且这种效应主要体现在民营企业提供就业多、民营经济占比高的区域。这表明，相对于具有雇员软约束的国有企业，以强化员工保护为目的的《劳动合同法》会降低民营企业的投资水平，进而拖累中国经济增长。本文从企业投资和经济增长视角对《劳动合同法》的相关研究进行了创新，同时对2008年后中国经济增长的下滑提供了新的解释。就政府政策而言，要保持我国经济的持续快速增长，政府需要制定一些替代性的政策，以对冲《劳动合同法》给企业增加的雇员负担。 |
| Abstract | This paper tests whether labor law executed from 2008 has a negative impact on corporate investment, and subsequently impedes the economic growth of China. We find that the effect of labor law on the investment of state-owned firms is insignificant; Labor law has a significantly negative impact on the investment of private firms, which is particularly pronounced in labor-intensive industries. Furthermore, labor law has a significantly negative effect on the GDP growth of provinces, which is more pronounced in provinces dominated by private firms with heavy employees. These results suggest that, compared with state-owned firms with soft employee constraints, labor law for employee protections reduces the investment of private firms, and subsequently hinders the economic growth of China. This paper contributes to the extant literature on labor law by analyzing the effects of labor law on corporate investment and economic growth, and provides new interpretations on the decline in the economic growth of China from 2008. The policy implication of our paper is that, to maintain the high level of economic growth of China, the government should make some alternative policies to hedge the negative effects of labor law on employee burdens of firms. |
| 文章编号 | WP1049 |
| 登载时间 | 2016-04-08 |
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