Empirical Study On The Impact Of Housing Price On Human Capital

The rapid development of our economy is based on the full play of comparative advantage.But now with the increased resource constraints such as land,demographic dividend,natural resources and urbanization process accelerated,house price and land price is rising fast,with the rising labor costs,industrial restructuring is faced with severe challenges.From Foxconn moving within Shenzhen events in 2010 to the rumors out of Shenzhen in 2016,and Shanghai Shenzhen and other large and medium-sized cities population negative phenomenon,both reflect the enterprise and workers' choices under the background of industrial restructuring and high housing prices.Labor outflow only reflects the change of the quantity of human capital under the background of high housing prices,but can not directly get significant conclusions about human capital stock of deep changes.At present,scholars have discussed the influence of the rising cost of labor mobility,and about the influence of house prices on the quality of the human capital research is relatively small and the point of view.Therefore,the purpose of this study is aimed at explore the impact of house prices on human capital from the national level and regional level respectively,analysis the rationalization of industrial restructuring and the high level of industrial structure's regulating role in the process of housing price impact on human capital.In this paper,from the height of the theory take the industrial restructuring as moderator variable explore the impact of house prices on human capital to supplement and improve the existing literature,enriches the existing research achievements,played an important reference value for future research.The research conclusion has important practical guiding significance to promote the healthy development of the real estate market,balance and improve human capital level,realize the talent gathering and promote the reasonable and orderly adjustment and coordinated development of the industrial structure.Therefore,this article from the perspective of industrial restructuring,based on Petty-Clark Theorem,analyzed the impact of house prices to an inner mechanism of human capital and puts forward four research hypotheses.Using the data of national inter-provincial panel data from 2002 to 2015,based on the regression model established by the hierarchical regression method,makes an empirical analysis of the influence ofhouse prices on human capital and upgrading of the industrial structure and rationalization of industrial structure' regulating role in the relationship between house prices and human capital from the national level and regional level.The research shows that the effect of real estate price on human capital is non-linear,and the effect of house price on human capital is the positive "U" type of the rise after the first decline.Industrial restructuring plays a negative role,namely the industrial structure more reasonable,more advanced,the relationship between house prices and the human capital is more flat,the human capital level is not sensitive to price changes,the influence degree of house prices on human capital is weaker,instead,on the other hand;In the east,west and central regions,there are regional differences in the extent of the effect of house prices on human capital.Based on this,this article will Put forward relevant policies and suggestions to ensure the people's well being and properly control house prices;formulate a sound housing policy and establish a sound housing guarantee system;balance and raise the level of human capital;accelerate the upgrading of the industrial structure and coordinated development of industries.In this paper,innovatively built the hierarchical regression model of the impact of housing price on human capital take the industrial restructuring as moderator variable,analyzed the inner mechanism of the impact of house price on human capital,and respectively from the national level and regional level make an empirical analysis on the effect of house prices to human capital.