A Study On The Influence Of Housing Cost On Urban Innovation Capacity Based On The Mediating Effect Of Human Capital

Under the new normal of economy,innovation has become a new engine to promote the high-quality growth of China’s economy.As the basic unit of national innovation capacity,the improvement of urban innovation capacity is crucial to the national construction of innovation system.Housing prices rising fast,with rising living costs,a direct impact on workers in the process of employment and career choice behavior of the city,which leads to the unreasonable flow of labor force,this become the important factors which restrict the development of the city innovation ability,combined with China’s population ages,the city how to attract and retain the workforce is the key to improve the innovation ability.Based on this,this paper proposes the following research questions: the direction and degree of the impact of housing cost on urban innovation capacity;From the perspective of labor mobility,the impact path of housing cost on urban innovation capacity;Under different housing cost level,the influence degree of labor agglomeration on urban innovation ability.Focusing on the issue of "the impact of housing price on urban innovation capacity",the relevant literature review found that,from the perspective of research,most of the data at the provincial level were adopted.From the perspective of research depth,more emphasis is placed on the direct effect verification of housing price and innovation ability.Although the internal transmission mechanism is theoretically analyzed,the internal transmission mechanism is not examined.And whether the direct effect is promoting or inhibiting,the conclusion is different.From the perspective of index selection,most scholars only use the housing price as a factor,but ignore that the measurement standard of housing price should be combined with income,and the key of labor mobility lies in the relative utility.Based on this,this paper,by using 2008-2017 panel data of 35 large and medium cities included in the cost of living index accurately measure urban housing price level,to reflect the relative effectiveness of the labor force,from the Angle of housing prices affect the labor flow,from the city level to explore the effect of living cost of urban innovation ability.Firstly,explore the direct impact of housing cost on urban innovation capacity;Secondly,the concept of heterogeneous labor force is introduced to explore the impact of rising housing cost on the quantity and quality of urban labor force;Then,the intermediary effect model is used to explore the indirect effect of housing cost on urban innovation ability,and to verify the intermediary transmission mechanism of human capital.Finally,the panel threshold model is used to explore the threshold effect of human capital and urban innovation ability under different housing cost levels,and the optimal housing cost range under the guidance of promoting urban innovation ability is proposed.The main research conclusions of this paper are as follows:(1)The increase of housing cost caused by the rise of urban housing price inhibits the inflow of labor force,which is not conducive to the agglomeration of urban human capital.(2)Human capital agglomeration promotes urban innovation capacity;The increase of housing cost has a negative influence on the improvement of urban innovation ability,among which human capital as an intermediary,and the relative mediating effect is 55.70%.(3)Under different housing cost levels,human capital and urban innovation capacity have threshold effect;Under the guidance of promoting urban innovation ability,the low housing cost level is the optimal housing cost range,and the residents’ renting ability is slightly difficult to afford or above.(4)From the perspective of improving urban innovation capacity,only 20% of 35 large and medium-sized cities in the past three years are in the optimal range of housing costs,and the role of human capital in promoting urban innovation capacity needs to be further improved.