A Study On The Effect Of Human Capital Accumulation On The Technological Innovation Efficiency Of Zhejiang Manufacturing Industry

The development concept of innovation,coordination,green,open and shared was proposed at the fifth plenum of the 18 th CPC Central Committee.As the primary factor of development concept,innovation must be at the core of the overall development of the country.The manufacturing industry of Zhejiang has the advantages of lump-like economy,scale economy and so on,an it has become an irreplaceable manufacturing base in China.However,defects in Zhejiang manufacturing industry appears with the changes in the economic environment,such as the impertinency of resource allocation and the quantitative expansion.Although the total number of R&D personnel and funding in Zhejiang manufacturing industry continues to grow,and technological innovation achievements has increased year by year,however,these can not guarantee the quality of technological innovation.Only by coordinating the input and output of technological innovation,can the manufacturing industry develop healthily.Technological innovation is a complex input-output process.The knowledge,technology and the quality of workers is becoming more and more important in the development of the industry,and human capital,as its carrier of knowledge,technology and labor quality,has become an irreplaceable factor in determining technological innovation and promote economic development.By studying the impact of human capital accumulation on the technological innovation efficiency of Zhejiang manufacturing industry,it is of great significance to realize the transformation and upgrading of Zhejiang manufacturing industry.This paper first summarizes the relevant research of scholars at home and abroad by document analysis,and analyzes the influence mechanism of human capital accumulation on the efficiency of technological innovation by qualitative analysis.Then this paper describes the current situation of human capital stock and investment,input and output of technological innovation in manufacturing industry in Zhejiang.On the basis of those,SFA method is used to measure the efficiency of technological innovation in Zhejiang manufacturing industry,it is found that different industy have different human capital accumulation situation,and there is a huge difference in technology innovation efficiency.Finally,through comparative current situation and empirical results,it is found that there is a threshold effect in the human capital accumulation of Zhejiang manufacturing industry.Only crossing the threshold,the accumulation of human capital can promote the technological innovation efficiency.Therefore,human capital accumulation and the ability of absorb advanced technology should be taken seriously.Zhejiang should establish incentive mechanism,pay attention to the second innovation and enhance the matching of human capital and industry,so that human capital and technological innovation efficiency can be enhanced continuously,and a multi-functional,multi-level industrial structure could be formed to promote the transformation and upgrading of Zhejiang manufacturing industry.