Migration Employment Income Of College Graduates And Human Capital Externalities

The economic circle thinks that the human capital externalities is the main factor of the development of science and technology and economic growth in the world nowadays.The knowledge spillover produced in the interaction between people not only increases the income of individual wages,but also enhances the productivity of society.At the same time,scholars believe that inter-regional wage differences are the most important drivers of labor migration.We analyzed the relationship between employment income and human capital externalities.Firstly,we discussed the current situation and motivation of college graduates' migration and employment,the factors that affect the employment income of college graduates,and the development of the theory of externality of human capital.The measurement method of human capital externality and the microcosmic conduction channel of human capital externality are analyzed.Secondly,based on the literature,we established an empirical model and estimates the employment income and the externality of human capital by using the dynamic survey of the Chinese labor force,the urban statistical yearbook and the sixth census data.The relationship between the income of migration employment and the externality of human capital,and the relationship between the income of migration employment of college graduates and the externality of human capital.Finally,the corresponding policy recommendations are put forward.The main conclusions are as follows: First,,the human capital externalities increases the employment income of workers.The elasticity of annual income to the proportion of highly educated labor force is 0.172,the elasticity of annual income to industrial specialization is 0.046,and the elasticity of annual income to employment density is 0.172.As the sample space shrinks to college graduates,the elasticity of annual income to the proportion of highly educated labor increases from 0.172 to 0.304.Second,he human capital externalities improves the income of migration employment.It can be seen from the results of the annual income regression that the proportion of highly educated labor force and employment density are significantly affected on the annual income of the migrant workers,and the coefficient increases gradually as the sample space shrinks to the graduates of colleges and universities.The elasticity of the annual income to the highly educated labor force is 0.178 to 0.233,and the elasticity of annual income to the employment density is 0.1.Third,the human capital externalities is the reason for the increase of employment income of college graduates.Through testing the result that the change of human capital externalities changes the employment income of college graduate migration,we can know that the change of the ratio of high education labor force and employment density is the reason of the increase of employment income of college graduate migration.The elasticity of the ratio of annual income to high education labor force is 0.304,and the ratio of annual income to employment density is 0.137.