Research On The Impact Of Human Capital And Technological Innovation On Regional Economic Growt

The analysis of the factors of regional economic growth and the causes of economic growth has always been one of the hot issues studied by economists.Since joining the WTO,China has experienced high-speed economic growth and has been recognized by the world as a miracle.In recent years,China’s economic growth has gradually slowed down and adjusting the industrial structure has become the top priority of domestic economics research.The existing researches in academic circles at home and abroad believe that human capital,especially high-end human capital and technological innovation,are one of the important driving forces of economic development.Therefore,this article combines the theory of endogenous economic growth to study the relationship between the two elements of human capital and technological innovation and how they impact regional economic growth,and examines the influence mechanism on the regulation of regional economic growth.In addition,by analyzing the threshold effect and quantile effect of technological innovation and human capital investment,it is concluded that the influence of human capital elements on the regional economy is follows an "inverted U-shaped" relationship.This paper selects a 359 economic data parameter from 30 provinces,autonomous regions and cities in China from 2008 to 2019 except Tibet as research samples to establish a panel data regression model.The main regression study analyzes the positive impact of human capital and technological innovation on regional economic growth,and further adding the interaction term of human capital and technological innovation,constructing a moderation effect model,and testing the internal impact mechanism between the two and regional economic growth.The research results show that human capital and technological innovation both respectively have a positive effect on regional economic growth,and at the same time the interaction term of the two also shows a significant positive correlation with regional economic growth.This ensures that human capital affects regional economic growth by adjusting technological innovation,and through cross-regional regression,it is found that the adjustment effect is different in different regions(east,middle,and west).Furthermore,we established a threshold regression model,analyzed the cumulative effect of human capital and technological innovation on economic growth,and verified that the influence of human capital on the regional economy is an "inverted U-shaped" relationship,while technological innovation is a "monotonic increasing" relationship.The quantile regression results show that the impact of technological innovation on economic growth is more effective than human capital.Human capital will have a significant impact at the lower level of the regional economy(10%-50% percentile),while at the higher level of the regional economy(50%-90% percentile),it will mainly rely on technological innovation,which aligns with the threshold model.This shows that to increase economic growth,the dual efforts of human capital and technological innovation are required for China to withstand the pressure of the current global economic downturn and achieve high-quality development,and that human capital and technological innovation need to be better combined to realize the maximum utilization of resources.The results effectively confirmed that endogenous economic growth theory conforms the real world environment of China,and provided policy suggestions that result in high efficient allocation of the two to stimulate China’s economic growth.