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Human Capital Structure Upgrading, Factor Market Development and Service Industry Structure Upgrading

【Authors】
DAI Kuizao, LI Xiaoli & LUO Junhan
【WorkUnit】
DAI Kuizao (Hunan University of Science and Technology, 411201)LI Xiaoli, LUO Junhan (Zhejiang University of Finance and Economics, 310018)
【Abstract】

Does the upgrading of China's human capital structure (HCS) have anything to do with the slow and delayed upgrading of China's service industry structure (SIS)? To answer this question, this paper does a theoretical analysis on how HCS affects SIS upgrading, and uses panel data of China's prefecture-level cities to verify the theoretical projection. It is found that China's HCS upgrading has promoted SIS upgrading in prefecture-level cities, and the promotional effect is even stronger in provincial capital cities and regions with a higher proportion of high-quality human capital. Such a promotional effect is mainly the result of improved labor efficiency and boosted technological innovation. The financial crisis weakened the influence of HCS while the policy support launched after the 18th CPC National Congress built the impact of HCS. Further research also shows that the development of the factor market can enhance the effect of HCS on the upgrading of SIS, while in areas with better developed capital market, labor market and technology market, the effect of HCS is more significant. This paper clarifies the relationship between the upgrading of HCS and the upgrading of SIS, offering new policy perspective for solving the problem of slow and delayed SIS upgrading in China.

JEL:L89, J21, P23

【KeyWords】
Service Industry Structure Upgrading, Human Capital Structure, Development of Factor Market