Human Capital,technological Innovation And China's Economic Growth

For a long time,labor and material capital investment have been considered to be important factors to promote economic growth.With the strengthening of resource constraints and the continuous weakening of labor dividends,China's economic growth rate has fallen,and the sustainable development of the economy has been challenged.Many scholars have begun to emphasize the importance of human capital and technological innovation to economic growth.At the same time,the Fifth Plenary Session of the 19 th Central Committee emphasized "in-depth implementation of the strategy of rejuvenating the country through science and education,the strategy of strengthening the country with talents,and the strategy of innovation-driven development." Based on this,this article attempts to focus on the impact of human capital on economic growth,and conducts research from the perspective of technological innovation.,A theoretical analysis of the relationship between human capital,technological innovation and China's economic growth.By constructing an intermediary effect model and a threshold effect model,we will conduct a more comprehensive empirical test on the internal transmission mechanism of human capital and technological innovation affecting China's economic growth from the regional and industry perspectives,with a view to implementing an innovation-driven strategy for China.Promote sustainable economic development and provide certain theoretical and empirical support.In the theoretical analysis part,this article combines human capital theory,innovation theory and new growth theory,and first analyzes the mechanism of human capital affecting technological innovation.On the one hand,the higher the level of human capital,the stronger the ability to acquire knowledge and understanding of skills,and can more quickly master and tend to use cutting-edge technologies.On the other hand,the external characteristics of human capital enable it to promote the improvement of the overall level of human capital in a region or industry,thereby promoting technological innovation.Secondly,it analyzes the mechanism of technological innovation affecting economic growth.From the perspective of technological innovation process,technological innovation can choose vertical technological innovation mode and horizontal technological innovation mode to have an effect on economic growth.From the perspective of technological innovation diffusion,the transfer and overflow of technological innovation results provide favorable growth opportunities for the development of backward regions or industry enterprises.Thirdly,it analyzes the mechanism of human capital's influence on economic growth.From the perspective of the direct mechanism,human capital has productive characteristics,and increasing human capital investment can increase productivity.From an indirect mechanism,human capital can have an effect on economic growth by influencing technological innovation.Finally,based on the Romer(1990)model and the research ideas of relevant economists,human capital,technological innovation and economic growth are placed in the same analytical framework,and further endogenous human capital,through theoretical models to analyze human capital,technological innovation and The internal transmission path of economic growth.In the empirical test,it is mainly divided into two parts.The first part examines the total effect of human capital on China's economic growth and the direct and indirect effects of technological innovation on China's economic growth by constructing an intermediary effect model,and analyzes the issue of heterogeneity.In the second part,by constructing a threshold effect model,it examines the non-linear mechanism of human capital's effect on China's economic growth under the threshold of human capital itself and technological innovation.First,construct an intermediary effect model to test at the regional level(including the overall level of the region and the sub-regional level)and the industry level(including the overall level of the industrial industry and the sub-industry level)that under the intermediary effect of technological innovation,human capital has an impact on economic growth.Impact and heterogeneity issues.the result shows:At the overall level of the region,the total effect of human capital on regional economic growth and the intermediary effect of technological innovation,the direct and indirect effects of human capital on regional economic growth are both significant.The test results support the analysis that human capital can directly affect regional economic growth,and it can also have an effect on regional economic growth through the transmission path of technological innovation.At the sub-regional level,it mainly examines the heterogeneity of human capital's impact on economic growth.In the three major regions of East,Central,and West,the increase in human capital can also promote regional economic growth in the region.The overall effect is significant.The conclusions at the overall level are consistent.Among them,human capital has the strongest explanatory power for economic growth in the western region,followed by the eastern region.In addition,in the eastern and western regions,the impact of human capital on economic growth has significant direct and indirect effects,and the direct effects are greater than the indirect effects.In the central region,the impact of human capital on economic growth has a significant indirect effect.On the overall level of the industrial sector,the overall effect of human capital on the economic growth of the industrial sector is significant,indicating that the increase of human capital can increase the labor productivity of the industrial sector and promote the growth of the industrial economy.Under the intermediary effect of technological innovation,the direct and indirect effects of human capital on the economic growth of the industrial sector are still significant.Therefore,the inspection results at the overall industrial level are consistent with the inspection results at the overall regional level,which also verifies the mediating role of technological innovation in the process of human capital influencing economic growth.In the case of controlling other variables unchanged,the direct effect is greater than the indirect effect.At the level of sub-industry,further analysis from the perspective of the heterogeneity of the impact of human capital on industrial economic growth found that the impact of human capital on economic growth varies from industry to industry.There are three categories of resource-intensive,labor-intensive,and capital-technology-intensive.There are certain differences in the estimated results of intermediary effects by industry.The results of the estimation of the total effect of human capital on economic growth show that,under the control of other variables,in resource-intensive,labor-intensive,and capital-technology-intensive industries,human capital has a significant impact on economic growth.The conclusions at the overall level are consistent;when technological innovation is introduced as an intermediary variable,the direct and indirect effects of human capital on economic growth have been verified in resource-intensive and labor-intensive industries,and the direct effects are greater than the indirect effects,but in capital In technology-intensive industries,the indirect effects are not significant.Secondly,construct a threshold effect model to test the non-linear effect mechanism of human capital on economic growth based on the threshold effect of human capital itself and technological innovation from the perspective of the region and the industry.The results show that when human capital is set as a threshold variable,at the regional level,there is a single threshold for the impact of human capital on regional economic growth,and the second threshold interval has a greater impact coefficient than the first threshold interval,indicating high-level human resources The role of capital in promoting economic growth is stronger than that of low-level human capital,that is,human capital has a non-linear characteristic of significant spillover to regional economic growth.At the industrial level,the impact of human capital on industrial economic growth also has a single threshold,and as the level of human capital increases,its role in promoting industrial economic growth increases.It shows that with the improvement of human capital level,human capital also has a significantly enhanced spillover effect on the economic growth of the industrial sector,which is consistent with the conclusions at the regional level.Therefore,increasing the accumulation of human capital will be an important way to promote China's economic growth in the future.When technological innovation is set as a threshold variable,at the regional level,under the influence of technological innovation,human capital has a significant role in promoting regional economic growth,but the impact coefficient of human capital in the second threshold interval is smaller than that in the first threshold interval,Which shows that human capital has a non-linear impact on regional economic growth,and the impact is gradually weakened.The possible reason is that,on the one hand,when the regional technological innovation level reaches a certain level,ordinary human capital can no longer satisfy the regional economic growth.The demand for high-quality growth,at this time,the human capital structure cannot well adapt to the regional economic growth goals.On the other hand,in the process of regional economic growth,when the development of science and technology reaches a certain level,there will be an optimal range for the positive effects of human capital.After this range,there may be other more suitable factors that can drive economic growth.At the industrial sector level,under the influence of technological innovation,human capital also shows a significant positive effect on the economic growth of the industrial sector.Different from the regional level,the impact coefficient of human capital is within two threshold ranges during the inspection period.The internal performance is gradually increasing,indicating that with the improvement of technological innovation,the impact of human capital on the economic growth of the industrial industry is strengthening.The possible reasons are: on the one hand,the human capital index of the industrial industry is measured from the perspective of income law,and There are certain differences in methods at the regional level,and income may also be potentially affected by other aspects,which will be different from the measurement results of the education law.On the other hand,China is in the late stage of industrialization,and the free flow of human capital among industrial enterprises has gained a lot of space.When the level of technological innovation reaches a certain critical value,the effective supply of human capital can be replenished and increased in time,thereby reducing the industry in which the enterprise belongs The economic shock caused by upgrading,therefore,under the level of high-tech innovation,the role of human capital in promoting industrial economic growth will increase.Based on the above analysis and research conclusions,this article starts from the two aspects of improving China's human capital and technological innovation,and finally draws relevant enlightenment to promote China's economic growth and solve the problems of uncoordinated economic development.The possible innovations of this article include: First,at the theoretical level,research on economic growth from the perspective of human capital and technological innovation,draw on relevant theoretical literature,and place human capital,technological innovation and economic growth in the same analytical framework.Endogenous human capital and technological innovation;secondly,at the research perspective level,the mechanism of human capital affecting economic growth through technological innovation has been tested from multiple dimensions such as the regional level and the industry level,and the impact of heterogeneity is tested;finally,the method At the level,it not only analyzes the linear impact,but also studies the non-linear impact of human capital on economic growth,and makes a certain supplement to related research.