Approaching a Neoclassical Scenario:The Labor Market in China after the Lewis Turning Point

• 来源期刊: 中国财政与经济研究（英文版）
• 关键词: Demographic transition Lewis turning point Labor market institutions
• 年，卷（期）: 2013,（1）
• 页码范围: 16-32
• 页数: 17页
• 语种: 英文

摘要

As China passes through its Lewis Turning Point characterized first by the appearance of a labor shortage and a constant increase in wages,its labor market shows both features of the dual economy and neoclassical growth.This paper first depicts the trend of population as a root cause of the labor market transition from dual economy to neoclassical scenario.It then reveals the changed labor market profile-the labor shortage and wage increase.By examining three major groups of employment,namely,migrant workers,university graduates,and urban vulnerable workers,it tries to explore those unique characteristics of the labor market in such a transitional period and draws policy implications.