| In recent years,general secretary Xi Jinping emphasized that talent is the first resource,and the talent policy as the focus of next reform,which has aroused the concern of the government about the employment problem.To study the employment effect of Guangdong’s fiscal investment expenditure is mainly to help the government to formulate the fiscal investment expenditure policy accurately,so as to relieve employment pressure,expand employment scale,optimize employment structure and realize the strategy of "strengthening the country through talents".Firstly,this paper sets up a theoretical model from the level of labor demand,and draws a conclusion that the financial investment expenditure can promote the employment.Then based on Keynes’ s effective demand theory and labor market theory,we deduce the mechanism of financial investment expenditure on employment.Secondly,by analyzing the current situation of Guangdong’s fiscal investment expenditure and employment,we draw the following two major problems: first,the main investment direction of Guangdong’s fiscal investment expenditure is mostly concentrated on industries with low employment concentration index,and the ability to absorb employment is relatively weak.The two is the imbalance and incoordination between the investment expenditure level and the employment level of the Pearl River Delta and the non Pearl River Delta.Finally,through cointegration test,error correction model and system GMM estimation,we get the conclusion: first,there are a long-term equilibrium relationship between Guangdong’s fiscal investment expenditure and employment and short-term correction relationship.Second,the effect of fiscal investment expenditure on the scale of employment under the different regions of the Pearl River Delta and the non Pearl River Delta is not the same.The financial investment expenditure of the Pearl River Delta has a negative effect on the employment,and the financial investment expenditure in the non Pearl River Delta has a positive impact on the employment. |
