关键词: 发展战略, 消费投资结构, 劳动收入份额, MS-VAR模型

Abstract: The development strategy of the government plays an important role in economic structure. In this article, we use Technology Choice Index as the proxy variable of development strategy，employ the time series data during 1978-2014, based upon MS-VAR model to analyze the asymmetric effects exerted by development strategy on consumption-investment structure and labor share. The empirical results show that there exists significant difference in development strategy with turning points at 1994 and at 2013. In the overtaking strategy regime, development strategy has depressed consumption investment structure and labor share; In the pro-comparative advantage strategy regime, development strategy has improved consumption investment structure and labor share. Especially, since the year of 2013 government’s development strategy has switched into comparative advantage strategy again, some positive effects have been achieved in terms of structure adjustment. Thus, government should make continuous efforts to push its development strategy to be more conforming to comparative advantage in future. Only in this way，can we mitigate the imbalance of the economic structure fundamentally，especially of the imbalance of the consumption-investment structure and of the depressing labor share, and thus promote the healthy and sustainable economic development.

Key words: Development Strategy, Consumption-investment Structure, Labor Share, MS-VAR Model