Study On The Measurement Of Externality Of Human Capital In China And Its Influencing Factors

The externality of human capital plays a more and more important role in urban economy,which promotes the agglomeration of cities and brings the improvement of urban productivity,and attracts more and more attention of urban economists.China is facing economic downward pressure increase,the human capital will play a role in keeping the steady growth of China play an important role,and to evaluate human capital externality for applied economic theory and economic policy is very important.Any policy emphasize its benefits in the human capital externality is not under the premise of reasonable evaluation,the result is uncertain.Therefore,the research and exploration on the externality of human capital plays an important role in the development of Chinese economy.Based on the reading and organize the relevant literature on the basis of human capital externality,use Chinese provincial panel data from 2010 to 2017,the country is divided into eight regions,space-time evolution trend of China's urban human capital are summarized analysis,found that Chinese human capital generally presents the tendency of increase with time,spatial differences are very obvious.Secondly,from both macro and micro perspectives,the externality of human capital in China is measured by analyzing the relationship between urban human capital and individual income,which takes the proportion of workers with university degree or above in the total labor population as the observed index.Two data sets with different characteristics,namely,the provincial panel data of China from 2008 to 2017 and the micro-data of workers in the sixth population census,are used to deal with the endogenous problem of externality of human capital.The regression results of this paper show that there is a positive correlation between the two.Specifically,for every1% increase in urban human capital level,the externality of human capital increasesby 0.032% ~ 0.747%.There is a significant externality of human capital in China.This result has good robustness.Secondly,it makes empirical test on its influencing factors.Finally,combining with the problems found in the empirical study,the paper puts forward relevant policy Suggestions from the perspective of China's specific economic and social situation.