Research On The Mechanism And Effect Of Capital Goods Import On The Skill Premium Of Skilled Labor In China

At present,China’s trade pattern is at an important juncture of using "import expansion" to achieve trade rebalancing.In China’s latest package of "promotion import" policies,it has been clear that the main direction of policy focus is to guide enterprises to import high-end equipment and technology.Capital goods,as the main representative of technology intensive and high production efficiency,have laid the foundation for economic development,and the import of capital goods has played a role of overtaking in the curve of economic transformation and development.And capital goods import increases capital accumulation,which is bound to put forward new requirements for the labor market of importing countries.The highly educated and skilled labor force is matching the capital goods with high technology content.Therefore,capital goods import has changed the demand structure of the labor market,thus expanding the wage gap between skilled and unskilled workers.On the basis of existing research,combined with the development of China’s economy,this paper systematically expounds the mechanism and effect of capital goods import on the skill premium of China’s skilled labor from the unique perspective of capital goods import.According to the existing literature,under the framework of the neoclassical theory and the new trade theory,this paper sums up the transmission mechanism of the gap between the input of this product and the remuneration of labor factors in China,which mainly includes the complementary mechanism of capital and skills,the transmission mechanism of price,the accumulation mechanism of human capital and the accumulation mechanism of skills.This paper defines the concept of skilled labor in China and explains the measurement of skilled labor skill premium.The chart data is used to illustrate the skill structure and skill premium of China’s labor market.In the empirical part,firstly,based on the provincial panel data of 31 provinces in China from 2003 to 2017,this paper analyzes the effect of capital goods import on skilled labor force.It mainly proves that capital goods import expands the skill premium of our country,and capital goods import is conducive to the accumulation of technical capital of our country.Through the capital skill complementary mechanism,it expands the demand for skilled labor,so it increases the skill premium.Secondly,from the regression results at the regional level,the impact of capital goods import on skilled labor skill premium is the same as that of the overall regression results,but the regional differences make the regression effect different.The regression coefficient of capital goods import in the eastern region is 0.174,which is greater than 0.083 in the central region and 0.066 in the western region.Moreover,the central region,as the primary inflow place of fixed assets,forms domestic fixed assets The effect of capital on skill premium is significantly negative,which also proves that the complementary effect of capital on skill exists in China.Finally,the empirical analysis of the mechanism of skilled labor skills premium caused by capital goods import proves that human capital and skills innovation mechanism can produce biased learning effect,increase the demand for skilled labor and expand the skills premium.