The Road to Servitization of a Country with Abundant Population Resources:Theory and Evidence from China's"College Enrollment Expansion"
As the global economy continues to transform from an"industrial economy"to a"service-oriented economy",more and more multinational manufacturing giants like General Motors,Philips and IBM have occupied a high-end position in the global value chain with the help of the transformation strategy of outsourcing assembly and processing and strengthening input servitization.In order to realize the transformation from a"manufacturing country"to a"manufacturing power",the report of the 20th National Congress of the Communist Party of China emphasized that it is necessary to accelerate the"promotion of the deep integration of modern service industry with advanced manufacturing and modern agriculture.According to the theory of division in the value chain,when the service is used as an intermediate input,it can introduce the contained advanced elements such as knowledge,technology and information into the final product in the form of a flywheel,which is of key significance for China's manufacturing to secure its transformation and upgrading and its promotion of the status of in international division.Based on this,the existing literature emphasizes the importance of servitization transformation to industrial upgrading from multiple perspectives,such as export value climbing,product quality upgrading,technological advance and green transformation.The important question behind the above facts is that in the context of the increasingly complex external environment,the unsustainable development path of dependent industrial transformation,and the increasingly emerging advantages of super-large domestic population,how can China's manufacturing find its endogenous power for the servitization transformation?In order to cope with development problems,General Secretary Xi Jinping emphasized at the first meeting of the 20th Central Financial and Economic Commission the need to"strengthen the development and utilization of human resources","improve the efficiency of human resource utilization",and support Chinese-style modernization with high-quality population resources.As a country with a large population in the world,can domestic high-quality population resources promote the"deep integration"of manufacturing and service industries and help build a"manufacturing power"?This is the core question this article aims to explore.Understanding and recognizing this major issue needs to be rooted in China's actual development situation.On the one hand,in 1999,China implemented an unprecedented expansion of college enrollment in order to improve its human capital.Since the implementation of the expansion policy,the number of students enrolled in colleges and universities has shown a rapid and gradual upward trend,with a enrollment growth rate of 42.5％in 1999 and graduation growth rate of nearly 40％in 2003.On the other hand,most of the productive and professional services as intermediate inputs are human capital-intensive products,and according to the factor endowment theory,the supply of human capital may affect the input servitization level of enterprise by changing the abundance of service factors.From a practical point of view,in parallel with the expansion process of Chinese human capital,the servitization transformation of the manufacturing industry in 1995～2013 is also advancing rapidly.It can be seen that there is a sufficient practical basis and great strategic significance for exploring the economic connection of human capital expansion to the servitization transformation of the manufacturing industry,and these experience summaries can provide a practical reference for China to promote the transformation and upgrading of the manufacturing industry to"intelligent,green and service-oriented manufacturing"based on the new development pattern of"dual circulation".The results show that the expansion of human capital can effectively promote the servitization transformation of enterprise,which explains the growth rate of enterprise input servitization by nearly 26.8％,and the conclusion is still valid after the effectiveness test of the difference-in-differences(DID)estimation and a variety of robustness tests.Mechanism and heterogeneity analysis show that human capital may promote the servitization transformation of enterprise by increasing the proportion of intermediate service input,upgrading management efficiency,improving employment structure,and enhancing innovation ability.In addition,the marginal effect will be differentiated due to the different characteristics of enterprises in terms of scale,financing constraints,innovation willingness or technology level.The extention study finds that the expansion of human capital promotes both domestic and foreign servitization,and domestic servitization can strengthen the security of supply chains,while foreign servitization has the very opposite effect.From the perspective of human capital,this paper excavates the endogenous driving force of the servitionzation transformation for a large country with population and resources,and the research conclusions will provide a practical reference for China to promote the construction of a trade power and strengthen the security of the supply chain under the new development pattern.
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