| The past30years is a witness of fast-developing economic of China, which dues to more frequently factor movements, advance of technological innovation ability as well as transformation in technological progress of China.2015marks the final year of China’s12th Five-Year Plan, and will also usher in the13th Five-Year Plan towards the end of the year. This year has been defined as a crucial period for deepening reform by2020.With economic of China becomes "new normal", extensive economy has been emerging in recent years and decrease of economic growth becomes inevitable. So, how to developing smoothly:from high speed to mid-high economy growth under "new normal", which can not mainly relies on single factor investment pulling, but optimized factor distribution, leading to transition of advanced efficiency and fusion of capital accumulation and technological advance. This calls for further research of influence factor and conductive mechanism of economy. Capital-labor elasticity of factor substitution and biased technological advance are crucial to both economy and macroeconomic calibration, meanwhile elasticity of factor substitution reflects transition of dynamic relations among factors. Therefor we established a framework to research the influence of factor substitution toward economy growth in the perspective of biased technological advance, trying to systematic investigate the growth effect of factor substitution and subtle conductive mechanism. The purpose of pepar is to offer valuable reference to the future of economy.This paper combines existing literatures and economic reality at home and abroad to investigate from the scale of country, province and industry, extending from macro-view to medium-view. Differ from existing research, based on the conclusion above we attempt to explore the relationship between elasticity of factor substitution and dynamic state of comparative advantage, not only expanding the inner conductive mechanism of elasticity of factor substitution, but also provide a new perspective for future theories related.This paper includes eight chapters. Chapter one is exordium, the proof and the meaning of the topic, the research method and main content as well as innovation are simply here. The next chapter recalls and review related research, centering on elasticity of factor substitution and biased technological advance, relations between elasticity of factor substitution and economic growth, dynamic state of comparative advantage based on perspective of capital accumulation and technological advance. Chapter three to seven is the main content of this topic. Chapter three theoretical analyzes the elasticity of factor substitution under biased technological advance. Firstly introduce the relations between the elasticity of factor substitution and biased technological advance. Secondly theoretical analyze the elasticity of factor substitution under biased technological advance. Thirdly considering individual effect and abnormal samples in economic growth of some regions, in order to deepen the research toward factor substitution effect, we decompose it to theoretical analysis. At last we try to expand the "distribution effect" in factor substitution effect. Chapter four develop a standard CES production function, survey53developed and developing countries and rethink the De La Grandeville hypothesis. Chapter five develops a VES production function to calculate the elasticity of factor substitution between the eastern and western china. The most valuable part of this chapter is not only the switch of view, but also static analysis to dynamic analysis. Chapter six is the empirical study of decomposed factor substitution effect, which mainly empirically test how elasticity of factor substitution influence biased technological advance, how biased technological advance influence income share of factors, how elasticity of factor substitution influence income share of factors. Chapter seven, based on conclusion of previous chapter, consider the conductive mechanism of factor substitution acting on economy growth will ultimately through the path of influencing capital accumulation, which are effective paths for dynamic comparative advantage of China. Whether existing ignored mechanism in the push toward economy growth is what we further dig for. The last chapter draw conclusion of the topic and expectation for future research.After theoretical analysis and empirical test, the conclusions are below:1. The elasticity index of factor substitution influence biasness of technological advance. Given such biasness, correlation of factors will influence the direction of technological advance. With the improvement of factor elasticity of substitution, capital-biased technological advance will be more and more obvious. On the contrary, technological progress will be increasingly preferred to labor.2. Improving the elasticity of factor substitution is favorable to promote economic growth. No matter cross-border or china’s provincial data, the reason why there is difference in economic growth among countries, it can be explained using different capital-labor elasticity of factor substitution. Because the elasticity index of capital-labor factor substitution not only directly influenced the rate of capital accumulation ("efficiency effect"), but also indirectly influence structure upgrading of factor endowment through changing factor income share ("distribution effect").3. Based on conclusion above, considering capital accumulation and technological advance as two effective paths to the transition of dynamic comparative advantage, we take29industries of China as example to further explore the relationship between elasticity of factor substitution and dynamic transformation of comparative advantage. It shows that manufacturing industry of China generally support that improve the elasticity of capital-labor substitution will promote dynamic transformation of comparative advantage, which means there is another conductive mechanism in growth effect of factor substitution:elasticity of factor substitution-capital input-transformation of comparative advantage-economic growth.
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