| The theme of the Industry 4.0 era is to promote the reform of industry by using information technology.Now the society has entered the intelligent era.The 14 th Five-Year Plan and the 2035 Vision Goals in China point out that we should insistent on innovating to drive the economy development and accelerating the construction of the digital economy.The innovation development and digital economy are supported by science and technology,and they need the talents of technology developers.Now the battle for information and talent has begun.The idea of human resources was put forward by the American economist Dave Ulrich,which is creative and dynamic,as the main body of creating social wealth.The Sustainable Development Report on China 2016 and the Human Development Report 2019 were released by the United Nations Development Programme(UNDP)which point out that education and scientific and technological development in China have improved substantially since 1990,and China has entered the ranks of high-level development.From the national level,the construction and development of human resources management is the trend of the age,is the demand of the age.From the individual level,a person who could receive good education and establish the concept of lifelong learning is to meet the needs of social development.The Social and Demographic System(SSDS)was published by the United Nations which provides a detailed description of the socio-demographic norms,population size and structure.The National Economic Accounts 2008(SNA2008)clearly defines the concepts of the stock and flow as well as the accounting criteria.At the same time,it points out that all the items in the account must be measured by the currency.In order to survey the characteristics of human resources accurately,it is necessary to study human resources from the perspective of value.The Chinese System of National Accounting(CSNA)2002 has list a subsidiary table of population and human capital.The new system of national accounts CSNA2016 increase the population and labor force expansion table.The systematic study of human resource value accounting has a great significance to develop the labor force which are needed to adapt to the new demand of technology expansion.The previous studies on human resources are generally based on the two levels of quantity and quality,and few studies could combine the two parts to calculate the value of human resources and analyze the effect on economic growth.The human resource could defined as the ability to create wealth and value which are contained in human body,including human intelligence,physical strength and creativity.It is the result of people's education,training,social medical treatment and social security.Therefore,the human resources are an unified whole of quantity,quality and price.It is a comprehensive and novel accounting perspective and system to calculate the value of China's human resources by combining the quantity,the price and the quality of human resources.Based on Marx's labor value theory and Adam Smith's wage theory,this paper calculates the value of human resources in China from 1995 to 2018 using national macro data,and calculates the income created by human resources,the stock of human resources value and the material quantity of human resources successively,which are guided by SNA2008,SSDS and CSNA2016.The main research contents of this paper are as follows: First,it introduces the current situation of human resources in China and estimates the income generated by human resources in China.According to Marx's theory of labor value,the income of human resources is equal to the price of human resources multiplied by quantity.Taking the number of employees as the measurement index of the number of human resources,and the average wage level of employees as the price of human resources,the income of human resources can be estimated.Second,calculating the value of human resources in China.Improving the discount formula of future earnings,and estimating the discount rate of human resource value by the data of Chinese listed companies with the help of capital asset pricing model.Thirdly,the human resource quality index system is constructed,and the human resource price is adjusted by Hedonic method to obtain the nominal and quality-adjusted human resource price.Estimating the human resource material quantity and the material quantity index to reflect the change of human resource value in China.Fourthly,it analyzes the influence of each component factor on the difference of human resource income between different regions.The paper divides China's 31 provinces(autonomous regions and municipalities directly under the central government)into three major regions:eastern region,central region and western region.The Oaxaca-Binder factor decomposition method is used to explore the influence of human resource quantity,human resource price and human resource quality on regional human resource income in different time periods and their changes.Fifth,the production function model and the panel data regression model are used to calculate the impact of the quantity of human resources and the quantity of human resources on the economic growth in the whole country,the eastern region,the central region and the western region,and compare their contributions to economic growth.1.The value of China's human resources has increased year by year,from 76.72 trillion yuan in 1995 to 685.95 trillion yuan in 2018,with an average growth rate of9.99%.The present value formula of income is improved,the return rate of human resources value is estimated by the capital asset pricing model(CAPM),and the stock of human resources value is quantitatively estimated by utilizing the quantity,price and quality of human resources comprehensively.The number of human resources increased from 639 million in 1995 to 828 million in 2018.The price of human resources increased from RMB2,183 / person in 1995 to RMB29,853 / person in 2018.The quality of human resources has been continuously improved in the four dimensions of the education level,the medical security,the innovation ability and the production efficiency.The eastern region is far ahead in the value of human resources,while the central region is gradually expanding its leading advantage over the western region.In 2018,the value of human resources in the eastern region,the central region and the western region was 387.14 trillion yuan,169.43 trillion yuan and 129.38 trillion yuan respectively,with an average growth rate of 10.14 percent,9.89 percent and 9.23 percent,respectively.2.The value of human resources in China has increased in fluctuation,rising from16.42 trillion yuan in 1996 to 58.20 trillion yuan in 2018,with an average growth rate of 5.92%.In 2018,the added value of human resources(58.20 trillion yuan)was63.31% of the annual GDP(91.93 trillion yuan).The ending stock is equal to the beginning stock plus the period change.The change in value is the flow of value in a given period actually.The central region has the largest increase range of value change,while the western region has the smallest increase range.In 2018,the change of human resources in the eastern region,the central region and the western region was 29.94 trillion yuan,15.02 trillion yuan and 13.24 trillion yuan respectively.The value change in the eastern region in 2018 was increased by 3.17 times,the central region by 3.29 times and the western region by 1.31 times compared with 1996 respectively.3.The quality of China's human resources is constantly improving,and the aspects of the "education level",the "medical security",the "innovation ability" and the "production efficiency" are constantly optimized.These four dimensions can reflect the quality level of human resources comprehensively.The average length of schooling in China rose from 6.74 years in 1995 to 9.25 years in 2018.The number of hospital beds per 10,000 people increased from 25.93 in 1995 to 60.23 in 2018.The proportion of R&D spending in GDP rose from 0.50% in 1995 to 2.19% in 2018.The labor productivity rose from 900,000 yuan per person in 1995 to 116,000 yuan per person in 2018.The life expectancy of China's population as a whole rose from70.80 years in 1995 to 76.34 years in 2015,and the average age of workers rose from34.68 years in 1995 to 38.98 years in 2018.4.The characteristic effects of the quantity,price and quality of human resources continue to increase,and enlarging the income difference of human resources between different regions.The Oaxaca-Blinder factor decomposition method is used to analyze the influence of each component on human resource income,and the influence of the component factors on the income difference between regions is clear.The largest difference in human resource income is between the eastern and western region.The largest difference in human resource price is also between the eastern and western region.The largest difference in human resource quantity is between the central and western region.The eastern region leads in the quality of human resources,and the western region is gradually overtaking the central region in per capita education spending and per thousand health professionals.5.The contribution of the material quantity of human resources to economic growth is greater than that of the quantity of human resources,and the influence of human resources considering the quality factor is more important to economic growth.The calculated original value of the human resource material quantity is adjusted to obtain the material quantity level including quality factors.The gross regional product(GDP),the stock of physical capital,quantity of human resources and quantity of goods and the materials of human resources have been on the rise in China.The eastern region has the advantage in economic development and all the production factors,the central region is the second,and the western region is the weakest.The average contribution degree of the material quantity of human resources to economic growth is greater than that of human resources quantity.The average contribution of China's material and human resources to economic growth is63.94% and 7.99%,respectively.The contribution of human resources quantity to economic growth increases in fluctuation with the advance of time,and the contribution of human resources quantity to economic growth increases first and then decreases.Based on the above research contents and conclusions,the following policy suggestions are made: First,improving the construction of data collection mechanism related to human resource value accounting,and incorporating the human capital accounting into the national economic accounting system,so as to lay a data foundation for more accurate human resource value accounting.Second,the local governments should actively improve and implement policies on the talent introduction,and attracting the high-quality talents to the central and western regions,and achieving a balanced allocation of human resources among different regions.Third,raising the wage level of human resources in the central region.The government departments in the central region should take measures according to the local conditions and carrying out the activities of attracting investments which are suitable for the local resources and economy.To create more jobs,expand employment and raise the wage level of the employed.At the same time,we should pay attention to the investment of regional innovation funds and increase the research,development and production of new products and high-tech products,so as to inject the vitality into regional economic development.Fourth,it should improve the quality of human resources in the western region.The western region needs to strengthen its construction in higher education,the innovation ability and the labor productivity.We will increase the investment in the construction of "Double First-Class" colleges and the universities in the western region,improving the training quality of basic education and the vocational technic education,improving the quality and productivity of laborers in the western region,and providing the qualified and adequate human resources for economic construction.As the working-age population in China is gradually declining,the rich fruits of the "demographic dividend" are gradually fading.All localities should work hard to improve the quality of the local labor force and turn the "demographic dividend" into "human resources dividend". |
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