Analyzing the Mediation Effect of Intelligent Development on Human Capital Misallocation: A Multi-Equation Model

Equations (2)-(4) represent a system of multiple equations. The mediating effect comprises of two types, namely, the independent mediating effect and the chained mediating effect. The former is characterized by the following causal chain: 'intelligent development → income structure adjustment → alleviation of human capital misallocation' and 'intelligence development → human capital flow → alleviation of human capital misallocation'. The latter is characterized by the following causal chain: 'intelligent development → income structure adjustment → human capital flow → alleviation of human capital misallocation'.