By introducing the knowledge sector, this paper has structurally redefined the production function and on such a basis, analyzed the role of new factor supply in China's economic transition and reached the followi...By introducing the knowledge sector, this paper has structurally redefined the production function and on such a basis, analyzed the role of new factor supply in China's economic transition and reached the following conclusions: 1) The supply of new production factors represented by knowledge sector has become the dominant force that decides whether China can overcome the barrier of structural deceleration, and achieve sustained growth and stride into a higher stage of development; 2) In the context of rising urban household income and upgrading demand, the knowledge sector has emerged, encompassing science and technology, culture, health and sports that contribute to enhanced "human capital in the broad sense", and the production and consumption process of the knowledge sector is also the process of human capital improvement and endogenous innovation; 3) Aside from its endogeneity, the knowledge sector creates spillover effects that will revitalize traditional industries and services, remove the barriers between consumption and production, and promote structural transition and economic upgrade for innovationdriven growth; 4) In the context of flagging growth driven by material capital, great importance should be attached to the contribution of consumption to human capital in the broad sense and promote the interactive upgrade of consumption and production structures, which are the key to overcoming the bottlenecks of development.展开更多
文摘By introducing the knowledge sector, this paper has structurally redefined the production function and on such a basis, analyzed the role of new factor supply in China's economic transition and reached the following conclusions: 1) The supply of new production factors represented by knowledge sector has become the dominant force that decides whether China can overcome the barrier of structural deceleration, and achieve sustained growth and stride into a higher stage of development; 2) In the context of rising urban household income and upgrading demand, the knowledge sector has emerged, encompassing science and technology, culture, health and sports that contribute to enhanced "human capital in the broad sense", and the production and consumption process of the knowledge sector is also the process of human capital improvement and endogenous innovation; 3) Aside from its endogeneity, the knowledge sector creates spillover effects that will revitalize traditional industries and services, remove the barriers between consumption and production, and promote structural transition and economic upgrade for innovationdriven growth; 4) In the context of flagging growth driven by material capital, great importance should be attached to the contribution of consumption to human capital in the broad sense and promote the interactive upgrade of consumption and production structures, which are the key to overcoming the bottlenecks of development.
