Research On The Impact Of Urban Human Capital Externality On Wage Level

For a long time,the income-increasing effect of human capital externalities has been a research hotspot in academia.On this occasion,China’s economy has changed from highspeed development to a new normal,but the accelerated accumulation of urban population will still be the main theme for a long time to come.As a basic force to promote urban development,external effects of human capital are indispensable.Only after a proper assessment of the external effects of human capital can a policy that emphasizes human capital agglomeration and its external welfare outcomes be more meaningful.This article attempts to measure the externality of human capital and elaborate on the mechanism of the effect of the increase in income of the externality of human capital from four paths,and to find the threshold of city size corresponding to the four impact paths.On the basis of sorting out related theories,this paper summarizes and analyzes the related researches on the externalities of human capital,wage income,and city size by scholars at home and abroad.Then the mechanism analysis of the path that human capital externality affects the wage level of urban residents.The empirical part is based on the 2015 Chinese Social Survey(CSS)microdata,as well as data from the China City Statistical Yearbook and China Regional Statistical Yearbook for the corresponding years.It measures human capital externalities and uses a threshold regression model to measure Scale is the threshold variable.It examines how the four micro-mechanisms of human capital externality affect the income of residents affected by the size of the city,which enriches the research content and empirical level of the human capital externality income increase effect.The study found that after controlling the characteristics of individuals and cities,significant externalities of urban human capital were observed.After excluding a series of potential problems,the results remained robust.At the same time,human capital externalities affect residents’ income through multiple paths,and for cities of different sizes,the effects of each path are different.After performing threshold regression analysis on the four impact paths,it is found that the human capital stock has always been the source of urban labor income growth,and the employment of externalities such as employment density,urban industry specialization,and degree of diversification all depend on a certain city size and scale.Too small and too large are not conducive to their external effects.Therefore,after indepth analysis combining specific threshold regression results,the following conclusions are reached:(1)The concentration of a large number of labor forces in the urban sector can indeed form the externality of human capital and control the characteristics of individuals and cities The external effects of human capital have been better reflected;(2)Investment education can greatly increase wage levels regardless of the size of the city,and the increase in wages will attract more employment inflows,and the size and structure of urban human capital will be obtained.Improvement;(3)for small and medium-sized cities with a certain scale,the specialized concentration of industries enables them to generate a sufficiently large comparative advantage in a certain field,thereby achieving a leading position in the competition of the city;(4)for larger scales For cities in China,the internal social division of labor system is relatively complete,and enterprises have a higher demand for diversified human capital.Therefore,it is possible to raise wages by increasing employment density and industrial diversification;(5)agglomeration effects and learning The effect of the effect may also be caused by the "urban disease cost Offset.Therefore,this article hopes to provide relevant reference for China’s urban population regulation and urban development policy.