| The Chinese economy has entered a state of new normal. It is shifting gear from high speed to medium-to-high speed growth. China is now facing a series of bottlenecks, like the disappearance of demographic dividend, the lack of innovation ability, etc. and seeking for new growth points has become the top priority of maintaining sustained and stable economic growth. The accumulation of human capital is the right key to solving the problems above. In the meantime, China increases investment in emerging industries of strategic importance, pursuing innovation-driven development, implementing “Made in China 2025”, etc. pursuing innovative, coordinated, green, open and shared development. The 13 th Five-Year Plan proposed that China is abundant in human capital. Research on the impact of human capital on China’s economic growth has a certain practical significance. But research on the relationship between human capital and economic growth in China is mainly on the assumption that the industrial structure is stable. Industrial structure transition is the feature of the new normal. In the process of transformation, output effect of production factors related to material capital and human capital is inevitably affected. In the study of the relationship between economic growth and human capital, the influence of the transformation of industrial structure can not be ignored. Meanwhile, mechanism of China’s regional economic indicates that the realization of regional growth is not an isolated system. Studies should focus on the spatial effects between provinces across China.Based on space-time concept, this paper sets a three sector economic growth model to study influence on the economic growth of human capital and industrial structure. Using dynamic spatial panel data model, this paper studies the spatial effect of human capital and industrial structure transformation, especially the long term and short term effects of them. Results manly embodied in the following aspects:Firstly, human capital and industrial structure plays an important role in economic growth. Only when the transformation of industrial structure matches with human capital, can they have the biggest effects. Secondly, spatial statistical analysis found that China’s regional economic growth has a significant spatial spillover effect. Regions are not isolated from each other. There is significant spatial spillover effect between economic growth factors; In the time dimension, provincial economic development may occur "Matthew effect" and the gap of regional economic development may increase. Thirdly, the long and short term effects of human capital and industrial structure in regional economic growth have complex spatial and temporal characteristics. And the economic growth effect of the variables may have different effects in different periods. |
PDF Full Text Request