Research On The Influence Of Human Capital Structure Upgrading On China’s Economic Growth

Labor and physical capital inputs have long been considered important factors driving economic growth.With the strengthening of resource constraints and the weakening of demographic dividend,China’s economic growth has slowed down,profound changes have taken place in traditional economic growth drivers,and sustainable economic development has been challenged.China’s economy is at an important juncture of transforming the development mode,optimizing the economic structure and transforming the growth power.How to transform China’s economy from the stage of high-speed growth to the stage of high-quality growth is an urgent problem for China’s economy to be solved.Based on the review of the existing literature,this paper expounds the theories related to human capital structure and economic growth through theoretical and mechanism analysis,and analyzes the theoretical basis and mechanism of the impact of the upgrading of human capital structure on China’s economic growth.On the one hand,the advanced human capital structure can increase the proportion of professional human capital,complete technological imitation and technological innovation,and thus have a direct effect on China’s economic growth.On the other hand,technical imitation and technological innovation of professional human capital will lead to the formation of technological catch-up and technological improvement,resulting in technological progress,which will indirectly affect China’s economic growth.The spillover effect of technological progress can bring impetus to China’s economic growth.In addition to its direct effect,the upgrading of human capital structure can also have an indirect effect on China’s economic growth through the two transmission paths of industrial structure upgrading and technological innovation.In addition,based on the analysis of the mechanism of human capital structure upgrading on China’s economic growth,this paper puts forward the corresponding research hypothesis.The empirical analysis part of this paper verifies the research hypothesis.First of all,a panel regression model with dual fixed effects is constructed to conduct benchmark regression on the direct effect of human capital structure upgrading on China’s economic growth.After that,the robustness test of changing the core explanatory variables was performed.Secondly,the three-step mediation effect model is used to test the two transmission paths of the influence of the upgrading of human capital structure on China’s economic growth.Finally,the two-way causal relationship between the upgrading of human capital structure and China’s economic growth;Simultaneous equation regression and grouping heterogeneity regression were conducted to explore the possible bidirectional causality and heterogeneity of the effects of human capital structure upgrading on economic growth in different regions and industries in China.According to the above analysis,the research conclusion is drawn.First,the upgrading of human capital structure has a positive promoting effect on China’s economic growth to a certain extent,and its direct effect is significant.Second,as for the transmission path that the upgrading of human capital structure affects China’s economic growth,the process of the upgrading of human capital structure can produce indirect effects on China’s economic growth through the two transmission paths of industrial structure upgrading and technological innovation.Third,for different regions and industries in China,the impact of the upgrading of human capital structure on economic growth is significantly heterogeneous.Fourth,there is a two-way causal relationship between the upgrading of human capital structure and China’s economic growth to a certain extent.While the upgrading of human capital structure promotes China’s economic growth,the upgrading of China’s economic growth level can also affect the process of the upgrading of human capital structure.