Research On The Impact Of Human Capital Investment On The Relative Income Of Agricultural Transferred Population

Over the past 40 years of reform and opening up,China's economic development has made remarkable achievements,and the role of "demographic dividend" played by the labor force as the core microcosmic element cannot be ignored.However,with the arrival of the turning point of the demographic dividend,the problems of unbalanced economic development in our country and the gradual increase in the income gap between urban and rural areas have begun to become prominent.The Fifth Plenary Session of the 19 th CPC Central Committee proposed that the distribution structure should be significantly improved and the middleincome group expanded during the 14 th Five-Year Plan period.As the main force in the process of new urbanization,the non-agricultural transfer of rural surplus labor is an important way to expand the middle-income group,narrow the income gap between urban and rural areas,and achieve the coordination between urban and rural areas and high-quality economic development.However,the human capital gap with the urban registered population will not only affect the possibility of the agricultural transferred population entering the urban non-agricultural employment sector and the employment stability after entering,but also is not conducive to the improvement of their relative income and further promote the process of new urbanization.Therefore,in the context of new urbanization and highquality development,it is of great practical significance to study the impact of human capital investment on the relative income of agricultural transfer population.Based on the related theories of labor migration and human capital,this paper constructs an analysis framework that includes the human capital investment and relative income of the agricultural migrant population.It also analyzes the theoretical basis of the impact of human capital investment on the relative income of the agricultural transfer population from the perspective of education level,work experience,skill training and health level.Based on the Mincer income equation,this article uses CGSS2012?2017 data to empirically analyze the impact of human capital investment on the relative income of the agricultural transferred population,and focuses on the effect of education and work experience before and after the turning point.At the same time,it measures employment stability from the perspective of signing labor contracts and non-agricultural jobs,and comprehensively examines the mechanism of various indicators to increase relative income by stabilizing employment,which further enriches the research framework on income disparity.The conclusions of this paper are as follows:(1)There is an inflection point in the effect of education and work experience on the relative income of the migrant agricultural population.For those whose education level is below high school,the improvement of academic education is not conducive to reducing the objective income deprivation index,while the agricultural migrant population with high school or above education can increase their relative income by increasing their educational input and time spent in education.After 13.13 years of working life,the labor force that does not participate in skill training will enter the bottleneck period of income growth and gradually find it difficult to narrow the income gap with others.However,to a certain extent,receiving skill training can weaken the negative impact of education and work experience on objective income deprivation index after crossing the inflection point.(2)Improving the level of health is continuously negatively correlated with the objective income deprivation index.Exceeding physical fitness will increase the objective income deprivation index,which shows that maintaining physical fitness is beneficial to increase relative income.(3)The regression results of the intermediary effect model show that human capital investment can reduce the objective income deprivation index and narrow the income gap with urban residents by promoting the employment of agricultural migrants into non-agricultural industries and increasing the possibility of contract signing.The indicators have played a part of the mediating effect.(4)The regression results of further analysis confirmed the conclusions of the benchmark regression,and the quantile regression results all confirmed that groups with higher income deprivation are more likely to narrow the income gap through human capital investment.For this reason,the government should appropriately tilt its educational financial input to rural areas,and at the same time focus its educational expenditure on the stage of high school education,so as to promote the development of vocational high school education in these areas and improve the vocational skills and employability of the migrant agricultural population.At the same time,we encourage cooperation with enterprises and schools to establish a sound "industry-university-research" system,increase the precision and targeted skills training for the migrant population,and help the new generation of migrant workers and middleaged migrant workers facing transition to improve their employment skills and increase their income.In addition,we should increase social security and medical security input for the migrant agricultural population,improve the basic medical security system and popularize medical and health education,and gradually promote the migrant agricultural population to have the same basic urban medical and health services as the registered population.Further break down the barriers of the household registration system,improve the provision of basic public services,promote the improvement of the agricultural transfer population's own ability and investment in the human capital of their children,and improve their income level and the quality of citizenship.