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- W2374147194 abstract "Based on the importance and specificity of agricultural sector in the distribution of factor income,this paper analyzes the effect of factor abundance and directed technical change on relative marginal product and factor income structure in agriculture,under the CES function of land and labor.Applying the three-equation normalized supply-side system,we estimate the parameters of production function with the SUR model and the results show that:(1)The elasticity of substitution between land and labor is less than 1in agriculture.Technical change is biased to labor,which is relative abundant,while the institutional change induces the shift in direction of technical change.(2)The factor relative marginal product and income shares are shaped by directed technical change and factor abundance,and effects of the two are in reverse for most of the years.The directed technical change is the main cause of relative marginal product and income shares.Hence the labor-biased technical change improved the marginal product and income shares of labor.(3)The effects in agriculture show phased features:during the period of 1952—1983,an increase in relative abundance of labor in agriculture reduce the factor shares by 1.5%,but the labor-biased technical change raise the labor share by 6.3%.From1984 to now,the relative abundance of labor in agriculture descend continuously,inducing the labor share rise by 2.4%.But the land-biased technical change lower the shares by 5%.Therefore,we should pay more attention to the role of technical change to raise the labor income shares in agricultural sector." @default.
- W2374147194 created "2016-06-24" @default.
- W2374147194 creator A5081180199 @default.
- W2374147194 date "2015-01-01" @default.
- W2374147194 modified "2023-09-24" @default.
- W2374147194 title "Factor Abundance,Directed Technical Change and the Factor Income Distribution Structure of Agriculture in China" @default.
- W2374147194 hasPublicationYear "2015" @default.
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