Research On The Effect Of Human Capital Investment On The Upgrading Of The Industrial Structure In China

2014, China’s total economic growth is 7.4 percent over the previous year, which is China’s economic growth at 9 percent or less for three consecutive years, China’s economic development has entered a new normal. The new normal economic developments of major new features are: economic growth rate from high-speed into the moderate-high-speed; economic development powered by a resource-driven to innovation-driven; economic structure optimization and upgrading. And industrial restructuring and upgrading is the core content of economic structure optimization and upgrading.With the changes in domestic and international economic situation, China’s industrial structure upgrading pressure increased: The United States as the representative of the developed countries proposed a "re-industrialization" strategy; some Southeast Asian countries at lower prices to snatch low processing elements of the manufacturing market, this makes labor-intensive and capital-intensive industry in China encountered lack of external demand constraints. Coupled with the disappearance of the demographic dividend, rising labor costs, the traditional low-cost competitive advantage gradually weakened. Therefore, China must achieve a competitive advantage to shift from comparative advantages, promote the upgrading of industrial structure through technical innovation and human capital investment, and promote sustained and healthy economic development.But so far, the effect of human capital investment on upgrading of industrial structure is still the weak link of academic research, and less of this thematic study literature; most studies only focus on certain aspects to discuss the impact of human capital investment to upgrade the industrial structure, I have not been able to retrieve the research that comprehensive and in-depth study mechanism for the effect of human capital investment on upgrading the industrial structure; empirical research on the experience of the impact of human capital investment to upgrade the industrial structure is also more limited to the first、second、third industries gradual progress,few scholars research the effect of the human capital investment on labor-intensive to capital-intensive, to technology-intensive industries upgrade. In this paper, "the Effect of Human Capital Investment On the Upgrading of the Industrial Structure in China" for the doctoral thesis topic, more comprehensive and systematic study for the effect of the mechanism of human capital investment on upgrading industrial structure; the situation of human capital investment and upgrading of industrial structure were statistically description, and the effect of human capital investment on the upgrading of industrial structure were metered test; more in-depth analysis its institutional causes of the main problems of human capital investment; put forward suggestions to promote the upgrading of industrial structure of human capital investment on the base of that contra pose human capital investment problems and their causes, use the typical country experience for reference. Thesis main includes the following four parts:First section, the theoretical foundation. First, the system sort and objective evaluation of the domestic and foreign scholars research on human capital and industrial structure relationships. Secondly, human capital investment affect structure of factor inputs, technological advances, consumer demand structure, resource endowments four aspects systematic and comprehensive analysis of the impact of the mechanism of human capital investment for upgrading industrial structure. Its influence process is: human capital investment change the structure of factor inputs affect the upgrading of industrial structure; human capital investment promote technological innovation, promote technology dissemination and use, and its role in promoting technological progress throughout the whole process, and technological advances will lead to the relative cost of inter-industry changes, triggered new demand, prompting leading industry change, bringing industrial differentiation and integration, thus contributing to upgrading of industrial structure; human capital investment improved the personal income levels, thereby raising the consumption level to promote and upgrading consumer demand structure, thus contributing to upgrading of industrial structure; promote human capital investment accelerated resource endowment of exogenous growth and endogenous growth, relaxed resource endowments constraints, and cause resource endowments change, thereby affecting the upgrading of industrial structure. This part of the more comprehensive and systematic analysis of the impact of the mechanism of human capital investment to upgrade the industrial structure, and enrich the theoretical research, expanding the research space, but also for future research laid the theoretical foundation.Second section, the empirical evidence section. First, according to the intensity of the elements of industry to make use of the division, and take an overview of the historical evolution of the main structure of China’s industrial structure from the perspective of Chinese use three elements, by the current level of China’s industrial structure and evolution of the standard structure method of determining the relative comparison, China’s industrial structure upgrading drawn there upgrade slow, solid foundation, lack of motivation and other issues conclusions. Then discusses the human capital investment and stock metrics, use and improve existing methods measures the Chinese human capital stock. Then the impact of human capital investment to upgrade the industrial structure to carry out the VAR and OLS econometric test, select stock of human capital, upgrading of industrial structure, the per capita GDP, urbanization rate and other economic variables, establish the VAR model, use impulse response function depicts Human capital investment changes affect the process of the industrial structure upgrading over time, and then select the in human capital investment, physical capital investment, per capita GDP, urbanization, industrial structure upgrading and other economic variables, use OLS method to do multiple regression analysis, the final the conclusion is: in the long term, China human capital investment positive affect the upgrading of industrial structure sustainably, but the impact has little effect, the role of human capital investment is not fully played out. Secondly, more in-depth analyzed the problems of human capital investment is that the investment is not enough, unreasonable structure, efficiency is not high, and these problems had a negative impact on upgrading the industrial structure, resulting in China’s industrial structure upgrading slow, solid foundation, underpowered. Then analyze the system causes of the main problems of human capital investment, and draw motivation of human capital investment, constraints, lack of risk diversification mechanism, as well as performance evaluation, education, research institutions and so on is major problem causes. This part of the study is different from other scholars, formatted a new perspective, but also put forward suggestions for the next foundation.Third section, the international comparison section. Based on the economic development and upgrading industrial structure characteristics, select use the United States, Japan, Germany three typical countries experience about promoting the upgrading of industrial structure with the human capital investment for reference, upgrading the industrial structure of these three countries to make a division of historical periods from the perspective of using the structure of the three elements separately, and on this basis draw summarized the three national industrial structure upgrading human capital investment at all stages of the feature, which US human capital investment encourage and restraint mechanisms; German dual education system research in mandatory and induced policy Constraints system; Japan’s internal labor market employment system, unique VLSI integrated research system worthy for our study and reference.Fourth section, the suggestions section. Based on the main causes of system problems for human capital investment, learned the successful experience of typical countries, proposes to strengthen our human capital investment and promote industrial upgrading should take countermeasures, including: improving government performance evaluation index system, improve the internal labor market system, improve the distribution of income by factor contribution distribution system to encourage investors to invest in human capital; established education investment, research investment, job training investment, migration investment legally binding mechanism to constrain the behavior of human capital investment; established a diversified risk-sharing system with human capital multivariate investors, strengthened human capital market information network construction to diversify the risk of investment in human capital; build pluralism vocational education investment model, and vigorously develop vocational education to balance the human capital investment structure; promoting reform the education and research system to improve the efficiency of human capital investment.