The Interactive Effect of Talent Gathering, Technological Innovation and High-Quality Economic Development: An Empirical Analysis Based on China’s Provincial Panels

Abstract

Based on the panel data of 30 provinces in China from 2006 to 2019, this paper uses the panel vector autoregression model to empirically analyze the interaction and lagging influence among talent gathering, technological innovation and high-quality economic development. The research results indicate that the variance decomposition of high-quality economic development shows that talent aggregation and technological innovation are both driving forces for high-quality economic development, but the lag effect of talent aggregation is relatively small. For every 1% increase in talent aggregation level, the level of high-quality economic development increases by 0.154%. For every 1% increase in technological innovation level, the level of high-quality economic development increases by 0.325%; in the variance decomposition results of talent aggregation, high-quality economic development and technological innovation have a positive effect on talent aggregation and the effect is gradually increasing, but the lag effect of talent aggregation itself is becoming smaller and smaller. For every 1% increase in the level of high-quality economic development, the level of talent aggregation increases by 1.204%. For every 1% increase in technological innovation level, the talent aggregation level increases by 0.212%; in the variance decomposition results of technological innovation, the lag effect of high-quality economic development and talent aggregation is relatively large, but the proportion of talent aggregation is relatively small. For every 1% increase in the level of high-quality economic development, technological innovation increases by 1.700%. For every 1% increase in talent aggregation, technological innovation increases by 0.141%. Therefore, relying solely on talent aggregation cannot achieve the goal of high-quality economic development. It is also necessary to increase innovation investment, enhance the effect of talent aggregation, allocate resources reasonably, and form a positive interaction among the three.