Amidst the wave of the Fourth Industrial Revolution,the development of new quality productive forces represented by intelligent technology will shape the form,structure and nature of new production relations that adapt to it,such as the lesser status of human-human coordination,the increased importance of human-machine coordination,and fundamental changes to the ownership relations,corporate organizational forms,distribution methods,management structures,and so on.The assumptions,logic,and paradigms of economics that are compatible with the first three industrial revolutions will all be challenged.Therefore,it is necessary to comprehensively reform the actual economic system and promptly adjust the capital system,industrial policy,employment and distribution policy,market policy,and education,science and technology,and talent policy that are not suitable for the development of new quality productive forces.
The proposal of developing new quality productive forces is based on the reality of the domestic economy and the complex international environment in the new era,to develop advanced productive forces needed for Chinese modernization,and to build a qualitative state of advanced productive forces that conform to the new development philosophy.This paper systematically analyzes the three characteristics of new quality productive forces:green,digital and high-tech,and demonstrates the key driving role of technological innovation in accelerating the formation of new quality productive forces.The results show that technological innovation strongly supports the formation of the modern industrial system through basic,critical and disruptive technological breakthroughs and their application to the industrial system,through the transformation of traditional industries,the promotion of emerging industries,and the derivation of future industries.The study shows that the new quality productive forces can help to enhance the value of the industrial chain for developing countries,contribute to the global economic recovery,and form a new economic growth pole.The authors believe that to accelerate technological innovation needed for the development of new quality productive forces,it is necessary to further improve China's systems,enhance the ability of independent research and development,accelerate breakthroughs in key core technologies,seize the commanding heights of technology,and actively build an open technological innovation system.
The slow relative productivity growth in the service sector is at the heart of “Baumol’s disease”, and the integration of services and manufacturing may offer a critical pathway to address this issue. This paper uses China’s tax survey data and OECD-ICIO input-output tables to examine how service inputs enhance the relative productivity of Chinese service firms and help overcome the “Baumol’s disease” trap. Additionally, it validates global patterns of this phenomenon through cross-country data. The results indicate that (1) increasing service sector input to the manufacturing sector improves the relative productivity of the service sector, narrows the wage cost gap between the two industries, and facilitates the crossing of the “Baumol’s disease” trap; (2) service sector input into high-tech manufacturing and into the manufacturing sector in developed countries is particularly effective in overcoming the “Baumol’s disease” trap, with producer services playing a significant role; (3) service sector input into manufacturing enhances competition, scale, and innovation within the service sector, which is vital for improving its relative productivity; and (4) cross-country data support the conclusion that service sector input into manufacturing can enhance the relative productivity of the service sector, establishing a global framework for overcoming the “Baumol’s disease” trap.
Abstract The promotion of fuller and higher-quality employment is a prime task for China’s high-quality development. Both employment security (ES) and employment quality (EQ) need to be improved for women who, as an essential part of labor force, have long been faced with high stress and employment threshold. The role of digital transformation in promoting women’s employment through reducing the cost of job information search is analyzed with the Job Search Theory in this paper. By using China Household Finance Survey (CHFS) data, this research found that digital transformation of households in China contributes to women’s employment significantly, raises the number and proportion of female family members in employment, and enhances women’ access to medical care insurance, endowment insurance, unemployment insurance, housing fund and overtime pay. Digital transformation can improve the information accessibility of households, and the reduction in information asymmetries benefits women’s employment, as indicated by the mechanism analysis. The positive impact of digital transformation is more pronounced for households in Central China, Western China and provinces with high unemployment rates, as well as those supporting the elderly and without housing. This paper will serve as a reference to fuel high-quality employment and reduce difficulties for women in the context of digital transformation.
Transportation infrastructure and household consumption are important issues in China.Due to excess sensitivity of household consumption,predictable income changes will cause substantial changes in consumption behavior.Understanding the excess sensitivity of consumption is the key to unleashing consumption potential,unblocking domestic flows and promoting high-quality development in China.However,no studies have investigated the relation between transportation network density and excess sensitivity of consumption. This paper matches panel data from the China Family Panel Studies(CFPS)of 2010,2012,2014,2016,2018 and macro transportation network density to explore the impact of transportation infrastructure on excess sensitivity of household consumption from the perspective of domestic market integration.This paper intends to illustrate the importance of transportation infrastructure and its influence on excess sensitivity of household consumption.Besides a series of robustness tests,heterogeneity tests and endogenous issues tests such as the instrumental variable method,we further explored the working mechanism of this effect.No previous research in the transportation infrastructure literature has accurately examined these problems. The results show that fast-growing transportation infrastructure significantly weakens the degree of excess sensitivity of household consumption.This conclusion was still robust after the instrumental variable method and a series of robustness tests were used.According to the heterogeneity tests,in terms of the weakening effect of transportation infrastructure,railroads rank the first,highways the second,substandard roads the third,waterways the fourth,and roads of other grades at the bottom.The mechanism test shows that transportation infrastructure has significant influence on the degree of excess sensitivity of household consumption by promoting domestic market integration.This paper confirms the weakening effect of transportation infrastructure.Improved transportation infrastructure will contribute to building a unified national market.Domestic market integration will weaken the degree of excess sensitivity of consumption and then stimulate consumption.This paper provides suggestions for implementing the strategy of boosting domestic demand,and helps the government understand households'consumption decision-making from a broader perspective.This study also provides a theoretical basis for the economic spillover effect of transportation infrastructure. This study contributes to the existing literature in the following five ways.First of all,this paper is one of the first to systematically investigate the impact of transportation infrastructure on Chinese excess sensitivity of household consumption at the micro level,and provides a new explanation for it.Second,this paper uses micro household-level consumption data from CFPS to investigate the impact of transportation infrastructure on excess sensitivity of household consumption.In contrast,numerous previous studies use macro aggregate consumption measures to explore the determinants of excess consumption sensitivity,which are not sufficiently comprehensive to capture micro facts about household consumption.Third,using the instrumental variable method,this paper constructs six instrumental variables to alleviate the endogeneity problem in the literature on the connection between transportation infrastructure and household consumption.This makes our main conclusions more convincing.Fourth,although the economic effects of transportation infrastructure have been widely researched by economists,few have definitely analyzed its impact on excess sensitivity of household consumption.This paper enriches the literature on the effects of transportation infrastructure.Finally,this study further identifies micro mechanisms through which transportation infrastructure affects the excess sensitivity of Chinese household consumption and deepens our understanding of their internal relationship.
