小型企业、劳动密集度与中国经济发展 ― 基于中国工业企业数据的实证分析 = Small Businesses, Labor Intensity and Economic Growth in China ― Empirical Evidence from Chinese Industrial Firms

다국어 초록 (Multilingual Abstract)

This empirical study reveals that the positive influence of small-sized firms on economic growth during China's middle-income stage is predominantly associated with the expanding presence of labor-intensive industries. This aligns with China's advantage of having abundant labor during this period. The study observes that as the capital-labor ratio of labor-intensive sectors approaches the overall capital-labor ratio, the share of labor-intensive industries experiences an increase. The research utilizes provincial panel data from China, employing the three-stage least squares method to estimate a simultaneous equation model. The results emphasize that, in China's middle-income stage, the optimal distribution of firm sizes is largely characterized by small firms. It acknowledges a gradual transition over time, highlighting that with the advancement of China's economy, the poistive role of small firms is progressively shifting towards larger businesses.