The Impact of Bank Credit on Labor Allocation among Industries

Abstract

Abstract: Based on the perspective of labor force distribution, this paper provides some new empirical evidence for how financial factors affect real economic activities. First, this paper expounds the impact of industry output on labor force allocation from two paths:scale and efficiency. And then we further consider the direct and indirect effects of bank credit in the labor force allocation. The empirical results of China's 2003-2015 year industry panel data show that there is a positive and negative correlation between production scale and production efficiency and labor distribution. Bank credit will affect labor allocation among industries, and it will have a reinforcing effect on labor force distribution by means of scale and efficiency channels. Credit expansion can improve employment level and drive economic growth, but it is not conducive to the improvement of total factor productivity.

Key words: bank credit, labor resources allocation, production scale, production efficiency, economic growth

Chen Xuesheng, Ji Xiang. The Impact of Bank Credit on Labor Allocation among Industries[J]. Management Review, 2020, 32(12): 3-14.

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