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Human resource service industry and regional economic growth

Author

Listed:
  • Long, Yang
  • Li, YanPing
  • Yu, Xiaotong
  • Zou, Siqi

Abstract

This study examines the impact of the human resource (HR) service industry on regional economic development in China from 2005 to 2022 using a spatial Durbin model. Empirical findings indicate that the industry significantly enhances regional growth through dual mechanisms: direct strengthening of local economies by optimizing HR allocation and improving labor market efficiency and positive spatial spillover effects in neighboring regions through knowledge dissemination, technological advancement and labor mobility. Analysis using three spatial weighting matrices (binary contiguity, geographic distance and economic disparity) consistently demonstrates the industry’s robust direct and indirect contributions to economic growth. While government policy interventions have effectively supported the sector’s development, challenges persist, including uneven regional development and demographic aging. This study suggests refining supportive policies and increasing investment in infrastructure and talent development to promote more balanced and sustainable regional economic growth, highlighting the critical role of HR services as a catalyst for regional economic integration in China’s evolving landscape.

Suggested Citation

  • Long, Yang & Li, YanPing & Yu, Xiaotong & Zou, Siqi, 2026. "Human resource service industry and regional economic growth," Finance Research Letters, Elsevier, vol. 100(C).
    • Handle: RePEc:eee:finlet:v:100:y:2026:i:c:s1544612326000875
    DOI: 10.1016/j.frl.2026.109556
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