CAJ | 학술논문

教育回报率影响不同教育层次劳动力的流动性，研究教育回报率的地区差异对理解劳动力流动的结构特征具有重要的意义。本文在“资本一技能互补”假说的基础上构建了理论模型来考察金融发展对教育回报率的影响，发现金融发展程度越高的地区，技能工人的工资溢价越高。实证分析使用CFPS数据证实金融发展程度对教育回报率有显著的正向影响；使用不同的指标和不同的实证模型检验，金融发展程度与教育回报率正相关这一基本结果仍然十分稳健。
교육회보솔영향불동교육층차노동력적류동성，연구교육회보솔적지구차이대리해노동력류동적결구특정구유중요적의의。본문재“자본일기능호보”가설적기출상구건료이론모형래고찰금융발전대교육회보솔적영향，발현금융발전정도월고적지구，기능공인적공자일개월고。실증분석사용CFPS수거증실금융발전정도대교육회보솔유현저적정향영향；사용불동적지표화불동적실증모형검험，금융발전정도여교육회보솔정상관저일기본결과잉연십분은건。
The difference in returns to education is one of the important factors for labor mobility. This paper develops a theoretical model under the assumption of ＂capital - skill complementarity＂ to analyze the effects of financial development on returns to education. We find that the wage premium of high - skill workers is larger in regions with higher level of financial development. Empirical analysis based on CFPS （2010） shows that finan- cial development is positively related to. returns to education across Chinese provinces and the result remains ro- bust while using different indexes and empirical models.