Empirical Study on the Impact of Minimum Wage Standard Adjustment on Regional Innovation
Based on the provincial panel data from 2005 to 2020,this paper empirically investigates the impact of the minimum wage on regional innovation and its mechanism.Considering the possible reciprocal causality between the minimum wage and innovation,this paper uses a one-period lagged minimum wage as an instrumental variable to solve the problem.The empirical results show that the minimum wage promotes regional innovation,and its influence mechanism is factor substitution effect and human capital accumulation effect.Further robustness analysis indicates that there is a positive causal relationship between the minimum wage and regional innovation.While the heterogeneity analysis reveals that there are obvious regional differences in the impact of the minimum wage on regional innovation,with the eastern region experiencing the most pronounced effect,followed by the western region,and the weakest in the central region.The government should increase investment in education,improve labor quality,further optimize the education and human capital structure,and incentivize enterprises through relevant policies to conduct on-the-job training based on their actual conditions to enhance employees'skill levels and human capital accumulation,re-move barriers to labor mobility and facilitate it across industries and regions,accelerating the communication,colli-sion,and exchange of diverse knowledge,ideas,and perspectives.This,in turn,enhances the complementarity of skilled labor and stimulates innovation.
minimum wageregional innovationfactor substitutionhuman capital accumulation
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万方数据
