A Research of the Impact of Knowledge Prosperity upon the Development of Foreign Trade in China
|Keywords||Knowledge and prosperity foreign trade human capital empiricalanalysis regional differences|
Between2000and2010, China’s foreign trade has experienced a rapid growth in eleven years. The average annual growth rate reached33percent, the gross amount of imports and exports quadrupled as much. But still outstanding at the same time, extensive mode of growth, less optimized structure, and a trade surplus expanded dramatically, a rapid increase in trade friction, macroeconomic uncoordinated resources and environmental carrying tightening a series of new contradictions. Since2010, with the major economies have bounced back, in each country, the effects of various policy measures to support foreign trade development will be further demonstrated and the prospect of foreign trade growth recovery is promising. However, under the new situation, China’s foreign trade is still faced with great challenges.Based on the review of Chinese and foreign literature on the knowledge of prosperity and foreign trade development, this article analyzes the related concepts and basic characteristics of the knowledge of prosperity and foreign trade development, and the transmission mechanism, including the definition of these three areas, human capital, knowledge accumulation, and the capacity of knowledge absorption, and research into the conduction mechanism of the development of foreign trade. An empirical study is adopted to explore the influence of the prosperity of knowledge and foreign trade on the basis of relevant variables’provincial panel data in the31provinces, municipalities, autonomous regions of Mainland of China from2001to2010. Conclusions have been drawn on the following aspects:A significant positive relationship between the level of human capital, the level of knowledge accumulation, absorptive capacity of knowledge and the development of foreign trade; the level of human capital and knowledge accumulation as well as knowledge absorptive capacity can promote the development of foreign trade; differences in the regional level of human capital, the level of knowledge accumulation, knowledge absorptive capacity and the differences of regional development of foreign trade levels are closely linked; relatively high level of human capital in the eastern region, relatively abundant accumulation of knowledge stock, strong knowledge absorptive capacity are important reasons for creating a high level of foreign trade development in the region. In addition, the article, on the basis of the foregoing theoretical and empirical analysis, analyses the problems of China’s foreign trade. With references of international experience and considerations of China’s specific situations, this essay also puts forward the suggestions about enhancing the level of human capital in China and increasing investment in education funding; improving our knowledge accumulation level and increasing efforts put into scientific research and development; giving full play to the potential of knowledge absorption capacity; improving policies and proposals to concerning the improve of full-time teachers’quality and technology market trading levels.