Study On The Influence Of Human Capital Investment On The Consumption Structure Of Chinese Urban Residents

With the growing demand for good material life,the consumption structure of the residents is changing in a subtle way.The upgrading of the consumption structure has promoted the sustainable and healthy growth of consumption,and the growth of consumption directly drives the rapid economic development.On the other hand,the rapid development of the economy has also gradually improved the daily consumption structure of the residents.Therefore,it is of practical significance to study the influence factors of the consumption structure.As the background of the new era,China vigorously promote the supply side structural reforms,only adapt to the changing needs of consumers,grasp the consumption lever balance supply and demand,in order to promote the sustainable growth of consumption,and consumption in the three main driving play a stimulating effect on the economy in the carriage.According to the existing literature,scholars have discussed the influence factors of the change of consumption structure from different angles.There are many factors affecting the consumption structure of residents,but few scholars have analyzed the changes in the consumption structure of urban residents in China from the perspective of human capital.Therefore,this article is innovative from the new perspective of human capital investment,and discusses its impact on the consumption structure of urban residents in China.This paper holds that the investment of human capital mainly affects the consumption structure of urban residents in China through two channels.The first channel is that the increase of the human capital stock has promoted the increase of residents' income.The increase of people's income drives people's consumption level to rise,changing people's consumption concept and consumption habits,and then causing the consumption structure of residents to change.The second channel is that human capital investment promotes the development of talent innovation.The driving force of talent innovation has improved the management and technical level of the supply side of the industry,and promoted the economy of scale,and the price of commodity fell relatively.The price change brings the"consumption effect",which makes the consumption structure of residents change.Based on the influence mechanism,this paper does the empirical research on the collecting panel data of 28 provinces in 1995--2005.And find the relevant economic indicators,with urban per capita actual human capital as the core variables,actual urban per capita disposable income,urbanization level,child dependency ratio as control variables.At the same time,the eight expenditures of the consumption structure are divided into three categories:survival,development and enjoyment.After a unified treatment of the panel data of 28 provinces in China,a regression model is established.Considering that residents' consumption level has a direct impact on the consumption structure of residents,the article makes a regression analysis of residents' consumption level before returning to the consumption structure of urban residents.Then the two block model regression analysis,including the analysis of national and sub regional and sub regional residents' consumption structure,the consumption structure of urban residents using innovative Engel coefficient regression,in order to explore the human capital investment change will affect the consumption structure of Chinese urban residents.Finally,the empirical conclusion is drawn that the real per capita investment of human capital has a significant negative impact on the urban residents' Engel coefficient,which has a significant positive impact on the enjoyment and development consumption of urban residents,and the impact shows some regional differences.According to the empirical results,this paper proposed suggestions to perfect the reform of the educational system,enlarge the human capital investment,to promote the consumption structure of urban residents increasing levels,and promote the sustainable and rapid development of Chinese economy.