Integration of manufacturing and services: Examining its effect on resource allocation and manufacturing labor productivity

IF 7.5 1区经济学 Q1 BUSINESS, FINANCE

International Review of Financial Analysis Pub Date : 2024-11-01 DOI:10.1016/j.irfa.2024.103708

Yangyang Yao , Wanhuan Cai , Zhongsheng Zhou , Yifan Zheng

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Abstract

The integration of manufacturing and services is a key factor driving the development of the manufacturing sector. Thus, this study uses Chinese province–industry data to determine the effect of such integration on resource allocation and manufacturing labor productivity. Additionally, heterogeneity is systematically examined, while avenues for its improvement are explored. Based on the results, dividing integration into forward and backward integration shows that both types significantly enhance manufacturing labor productivity by improving resource allocation efficiency, with forward integration demonstrating a more pronounced effect. This mechanism mainly manifests in capital- and technology-intensive industries but not in labor-intensive ones. Notably, while the integration of manufacturing and services enhances both economic and social efficiency by curbing capital over-allocation, it creates the problem of labor over-allocation. These conclusions provide value insights for promoting industrial transformation and upgrading.

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制造业与服务业的融合：考察其对资源配置和制造业劳动生产率的影响

制造业与服务业的融合是推动制造业发展的关键因素。因此，本研究利用中国各省的行业数据来确定这种融合对资源配置和制造业劳动生产率的影响。此外，还对异质性进行了系统研究，并探讨了改善异质性的途径。根据研究结果，将一体化分为前向一体化和后向一体化，可以发现这两种类型的一体化都能通过提高资源配置效率显著提高制造业劳动生产率，其中前向一体化的效果更为明显。这一机制主要体现在资本和技术密集型产业，而非劳动密集型产业。值得注意的是，制造业与服务业的融合在通过抑制资本过度配置提高经济和社会效率的同时，也带来了劳动力过度配置的问题。这些结论为促进产业转型升级提供了有价值的启示。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.