| Currently,China’s economy has entered a "new normal",and its economic structure has begun to slow down.It is essential to change its development mode,from extensive growth relying on resources and capital investment to innovative development.The importance of human capital has become prominent,and talents have become the core competitiveness of economic development.In recent years,with the economic growth,China’s housing prices have risen rapidly and kept high.On the one hand,increasing the cost of living has an impact on labor mobility,which in turn affects the total amount of regional human capital;On the other hand,rising house prices also affect the land and labor costs of enterprises,forcing the adjustment of regional industrial structure,and then affecting human capital.Is the impact of rising house prices on human capital promoting or hindering? What is its internal mechanism?In reality,there are also some areas with higher housing prices and higher levels of human capital,such as Beijing,Shanghai and other large cities,because their economic structure,especially the industrial structure,is better,labor income and development opportunities are more.So can the upgrading and rationalization of the industrial structure adjust the impact of housing prices? These problems are of great theoretical and practical significance in the context of the new development pattern and the rapid rise of house prices.This paper mainly studies the impact of rising house prices on regional human capital,and considers the adjustment effect of upgrading and rationalizing industrial structure,and expounds its action path.Specifically,in the part of theoretical mechanism,it discusses the mechanism that house price affects human capital by affecting labor flow and individual human capital investment,and focuses on the theoretical path that the upgrading and rationalization of industrial structure can produce adjustment effect by affecting labor structure and per capita income.In the empirical analysis part,the panel fixed effect model is used to estimate the data of China from 2000 to 2019,and the second-order lag of per capita land transfer area is taken as the tool variable of environmental endogeneity,and the dynamic panel system GMM method is used to test the robustness.Finally,the heterogeneity of cities with different housing prices is further analyzed.It is found that the rise of house price has a nonlinear impact on human capital,and the impact relationship is "inverted U".The upgrading of industrial structure and rationalization of industrial structure play a negative moderating role in the process of housing prices affecting human capital,that is,the higher or more reasonable the industrial structure is,the smaller the impact of human capital is when housing prices rise;Further,it is found that there is heterogeneity between high-priced cities and low-priced cities.In high-priced cities,rising housing prices mainly inhibit human capital level,while in low-priced cities,rising housing prices mainly promote human capital level.Based on this,this paper puts forward the following policy suggestions: first,continuously improve the regulation mechanism of the real estate market to prevent the unreasonable rise of house prices from crowding out human capital;Second,scientifically plan the layout of urban industries,actively promote the optimization and upgrading of industrial structure,and reduce the negative effect of rising house prices on human capital;Third,pay attention to the talent housing policy,which is conducive to promoting the regional "people grabbing war";Fourth,optimizing and improving the urban investment environment,strengthening infrastructure construction and improving the level of public services will help to improve the total amount of regional human capital. |
PDF Full Text Request