Research On The Impact Of The Heterogeneous Human Capital On Income Disparities Among Different Industries

With the continuous evolution of the industrial revolution,China’s economic development had made remarkable achievements.However,with the continuous increase in the income levels in various industries,and the people’s living standards had greatly improved,some problems had gradually appeared.The problems had attracted a lot of attention from society and academia were the continuous expansion of income gap among industries in China and the structural contradictions of human capital.The existence of these sharp contradiction not only had a negative impact on China’s economic development,but also affected the harmony and stability of the society.Nowadays,human capital as "living capital" had huge potential for value-added in the post-industrial and the early knowledge economy period.The growth of human capital had become the essence for promoting economic growth and adjusting the income gap of industries.Therefore,this paper would focus on the impact of the heterogeneous human capital on income disparities among different industries.Based on the analysis of the present situation and influence mechanism,this paper proposed two hypotheses: 1.The accumulation of high-quality human capital was conducive to narrow the income disparities among different industries,while the increase of low-quality human capital could expand the income disparities;2.The human capital of different kinds of industries had different effects on the income disparities among different industries.To verify the hypotheses,this paper built SYSGMM model by using 2003-2017 national 19 industry category panel data.The empirical results showed that the influence of heterogeneous human capital on the income disparities existed "Threshold Effect ".The increase of secondary and higher quality of human capital increase could narrow the income disparities among different industries,and the elementary quality human capital would expand disparities.At the same time,the study also found that the impact of human capital in different kinds of industries with different education levels was different.Compared with the industries with medium and high education levels,the adjustment effect of human capital in the industries with low education level on the income gap was smaller.In addition,the human capital yield of medium education level industries existed "Sharing Effect",due to the industries barriers and wage decision mechanism,the yield of secondary quality human capital was raised and the disparities of medium education level industries was widening.The phenomenon violated the principle of fairness and efficiency and made the industry income distribution more and more unreasonable.On the basis of theoretical and empirical analysis,this paper proposed to optimize human capital structure,increase the investment of healthy human capital,enrich the ways of vocational skills training for on-the-job labor and standardize the income distribution order,so that human capital could better adjust the income disparities among different industries in China.