| The essence of the transformation of economic development mode is to enhance the driving force of knowledge and innovation on economic growth.Technological innovation is not an independent factor of production.Its role in production is achieved by endogenously improving the efficiency of factor production,but technological progress is not necessarily Simultaneously improve the production efficiency of all factors,that is,technological progress is biased.Existing research mainly focuses on the relationship between the bias of technological progress and the share of factor income,but the mechanism of the impact of biased technological progress on economic growth is unclear,and when technological progress is biased toward capital and labor respectively,its impact on economic growth is large.,And whether the intermediary effect of investment channels will be different.Investment is one of the important channels for applying advanced technology to production.When technological progress is biased towards capital,the marginal production efficiency of capital factors increases,and enterprises will increase capital factor investment,which in turn drives the development of upstream and downstream enterprises,through the industrial chain forward and backward Related effects,related industries are expanded,forming the penetration of capital-biased technological progress in the upstream and downstream of the industrial chain,and the diffusion of biased technological progress between regions will maintain its biasedness unchanged,that is,capital-biased technological progress is passed Investment spreads among industries and promotes economic growth.When technological progress is biased towards labor,higher demands are placed on laborers ’skills and knowledge,and laborers are encouraged to increase their investment in education and skills,and skill premiums promote the conversion of non-skilled laborers to skilled laborers.As a result of the degradation of human capital,high-skilled workers must also continue toinvest in mastering new technologies.The continuous investment of workers in knowledge and skills has led to economic growth.On the basis of this theoretical analysis,this paper uses Chinese provincial panel data as a sample to estimate China’s technology progress bias index from 1995 to2018,and calculates its impact on economic growth when technology progress is biased toward capital and labor The strength of the impact is further verified by the intermediary effect of capital investment and labor investment.The research shows that China ’s technological progress from 1995 to 2018 shows labor-biased overall.The labor-biased technological progress promotes economic growth three times as much as the capital-biased technological progress,and the investment intermediation effect accounts for about half of the total effect.The intermediary effect of labor investment is greater than the intermediary effect of capital investment.Therefore,combining local factor structure,increasing investment in labor factors,and inducing technological progress toward labor is one of the important ways to promote economic growth. |
