The Impact of Intelligent Development on Human Capital: A Mediating Role of Income and Income Inequality

In Column (1), income is used as the explanatory variable, and the coefficient of intelligent development is found to be significantly positive at the 1% level, indicating that intelligent development contributes to an increase in average income. In Column (2), human capital flow is employed as the explanatory variable, and the coefficient of intelligent development is found to be significantly negative at the 1% level, while the coefficient of income is significantly positive at the 1% level. This suggests that intelligent development leads to a depletion of human capital, whereas an increase in income can attract human capital inflow. However, the magnitude of the impact of an increase in income is greater than the negative effect of intelligent development.

Column (3) examines human capital mismatch as the explanatory variable, and the coefficients of the mediating variables all pass the 1% significance test. This confirms that intelligent development can correct human capital mismatch through two mediating channels: an increase in income and the promotion of human capital mobility. Similarly, Column (4) shows that intelligent development widens the income gap. In Column (5), it is revealed that the widening income gap has a negative impact on human capital, resulting in a depletion of human capital. Finally, Column (6) confirms that intelligent development contributes to the widening income gap and human capital mobility, which in turn alleviates the chain mediating path of human capital mismatch.