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The capital-skills complementary hypothesis had been widely verified and used abroad, domestic scholars started paying special attention to it and trying to use it to make relevant researches. In this paper, the capital-skills complementary hypothesis was firstly used to study the spatial heterogeneity of financial deepening and Chinese higher education premium; its primary purpose is to provide new thinking to the supply side reform of Chinese higher education. Through the improved Mincer equation and the empirical research, it is found that the person of higher education level prefers to the developed regions. The primary cause of such phenomenon is the one that developed region provides higher return of education (hereinafter referred to as "ROE"). Rightly, it is the regional difference of ROE that affects the flow direction and mode of labor force. In the region with higher financial development degree, enterprises prefer to borrow and loan money to use the capital to start their production. However, the weaker substitution of skilled labor and capital than the non-skilled labor and capital forced enterprises to increase their demands on skilled labor force and decrease their demands on the non-skilled labor force. In the context of a relative stable supply, the distortion from the demanding party improves the wage premium of skilled labor force. Therefore, the higher the financial development degree in a region is, the higher the ROE is. For Chinese higher education supply side reform, it is preferred to consider the spatial difference features of Chinese financial development. |
