Study On Efficiency Of Human Capital Allocation In Economic Development Of The New Jinzhou District

Human capital, which is a core capital in the knowledge-based economy, works together with physical capital to determine the speed, quality and potential of social and economic development of a country or a region. The efficiency of human resource allocation in economic development refers to the fitness possessed by human capital. In details, it can be explained as the degree of consistency and matching between human capital supply and demand in a specified regime and culture.The New Jinzhou District in Dalian is a crucial strategic region in Liaoning Province suggested by "Liaoning Costal Band Development Plan". In the11th five-year plan period, with a fantastic performance of various economic indexes and a satisfactory completion of diverse economic tasks, the New Jinzhou District still confronted a series of problems, such as inappropriate industrial structure, low entrepreneur innovation capability, weak support to social and economic development from inadequate quantity and quality of human resource, severe structural contradictions of human resource and etc. The economic structure reconstruction strategy has revealed the fact that neither of the amelioration and reconstruction of industrial structure, the innovation and revolution of technology, the paradigm shift of economic growth can be achieved without the backup of a competent and appropriate stock of human capital.Corresponding to the topic mentioned above and based on the analysis from "Analytical Report of the Sixth Population Census Data of the New Jinzhou District", this article utilizes data from "Statistical Yearbook of the New Jinzhou District", whose time range is from year2001to year2011, to conduct a research on the human capital allocation efficiency in the New Jinzhou District in Dalian. Firstly, this article concludes that the interaction between economic development and effective human capital in terms of production capacity, structural transformation capability and regime revolution ability. It also discusses the measure of effective human capital regarding its consistency with economic development, which lays the theoretical foundation for the empirical analysis. Secondly, this article conducts an empirical analysis on human capital allocation efficiency in the New Jinzhou District. It decomposes the empirical analysis into two parts. On one hand, it is a study of human capital consistency index, which stands for the absolute degree of consistency of human capital and is established based on a synthesis of subjective and objective weighting methods. On the other hand, it is a study using DEA method (SBM Model), which is considered as the relative degree of consistency of human capital. Both methods lead to a consistent conclusion, which shows that the consistency index is at the historical valley with the value of0.236in2001, and reaches its peak at0.669in2007. The index is overall rising with certain level of fluctuations between2001and2007. It diminishes overall with a low speed between2007and2009, and the reduction accelerates since2010so that it is close to the historical valley in2011with the value of0.286. Thirdly, the challenge and problems confronted by the New Jinzhou District appear mainly as excessive investment, inappropriate industrial structure, inadequate special-skilled labor, immature market economy and low quality of openness. Therefore, the New Jinzhou District should step forward in enhancing the stock of international talents, facilitating marketization in education, promoting the cultivation of innovative and applied talents, reducing barriers for talents immigration, raising the efficiency in talents immigration to establish better human resource cultivation and attraction. In addition, it shall facilitate the transformation and amelioration of the industrial structure, provide assistance to strategic emerging industries, continue the revolution of economic regime, and constantly improve the quality of openness, in order to construct the New Jinzhou District into a prosperous region with a well-established regime, strong innovation and passion, effective reduction of hindrance of talents inflows and well-structured openness.The major innovation of this article includes three aspects. Firstly, this article is intended for the New Jinzhou District in the degree of consistency of human capital regarding economic development. Secondly, it makes full use of the data containing11years from the statistical yearbook of the New Jinzhou District and takes significant features of the district into consideration. For instance, high proportion of FDI and frequent flows of labor. Thirdly, it combines subjective and objective weighting methods to construct a human capital consistency index representing an absolute degree of human capital consistency, and uses SBM model in calculating consistency score representing a relative degree of human capital consistency. The two methods appear to have a highly consistent conclusion after comparisons.The weakness of this article includes two aspects. On one hand, it lacks in relation of the New Jinzhou District with other countries or regions, since there are seldom studies on the New Jinzhou District. On the other hand, further discussion is still needed with respect to the economic meaning of projection vectors, though SBM model reduces the constraints of traditional efficiency measures in projection direction via introduction of projection vectors into directional distance function.