关键词: 人口红利, 劳动力流动, 劳动力配置效率, 全要素生产率

Abstract: In the new era of high-quality economic development, the demographic dividend in China needs to transform from the quantity dividend of labor force to the efficiency dividend of labor allocation, and the key to release the efficiency dividend of labor allocation is to guide the flow of labor force between regions reasonably. This paper constructs a two-region equilibrium model and reveals the theoretical mechanism of interregional labor mobility to promote the growth of total factor productivity leading to releasing the efficiency dividend of labor allocation. Our empirical analysis shows that there is a downward trend in the efficiency dividend of labor allocation in China which even decays prior to the quantitative dividend of labor force. The inflection point of “non-significant” appeared to occur in 2006. Interregional labor mobility promotes the release of labor allocation efficiency dividend at the one percent significant level, and the increased labor mobility has had an acceleration effect. The heterogeneity test suggests that in the area with greater elasticity of labor price supply or higher marginal production capacity of labor force, increased labor inflow would promote the release of labor allocation efficiency dividend.

Keywords: Demographic Dividend, Labor Mobility, Labor Allocation Efficiency, Total Factor Productivity