中文摘要：

本文从金融发展视角解读中国劳动收入份额下降这一现象。首先基于文献探讨金融发展对劳动收入份额的作用机制，利用1997—2007年省级面板数据进行实证分析，结果表明：无论是金融发展的总指标，还是分项指标皆与劳动份额有显著负向关系，说明现阶段金融发展是我国劳动收入份额下降的重要因素之一。即便控制内生性、异常样本点和指标定义等潜在问题，上述结论也是稳健可靠的。本文评估了金融发展对国民收入分配的影响，也为破解当前我国经济的消费一投资结构困境提供了一定政策启示。

英文摘要：

This paper tries to give a new explanation, from financial development perspective to decreasing labor income share in current China. Based on literature review, we investigate the mechanism of financial development on labor share, and then empirically analyze using 1997 -2007 provincial data. The results show that, whether total indicator or sub - indicators of regional financial development have negative relationship with labor share. It confirms that financial development is a significant factor for decreasing labor share, even other potential problems are controlled. Our research would help to assess the impact of financial development on factor income distribution, and shows some policy implications for cracking the Consumer - Investment plight in current China.