Human Capital And National Income Level

The "middle income trap" has always been one of the hot issues of domestic and foreign economists,and it is also a proposition that every country needs to face when moving from the middle-income stage to the high-income stage.In recent years,after 40 years of rapid growth in the reform and opening up of China's economy,the economic growth rate has shown a trend of slowing down.Some social contradictions accumulated in the previous extensive economic development model have gradually been exposed,and the development of society has entered a new stage.At the same time,with China's low fertility rate and the problem of aging,the"demographic dividend" is gradually disappearing,and human capital is being vigorously developed to promote China's economic growth.Therefore,it is worth paying attention to how human capital affects the national income level and what role it plays in crossing the middle-income trap.At the same time,combining with the actual situation of China's human capital,how to improve China's human capital level to make it smoothly across the middle-income stage is worthwhile to research.This article first reviews the existing literature and theories,and summarizes related research by scholars at home and abroad.Then,using the existing data,we explored the human capital status of countries with different income levels,and compared and analyzed the current situation and problems of human capital in China.In terms of empirical research,this paper selects 160 countries' macroeconomic data for empirical analysis,confirming the positive effect of human capital on economic growth in the middle and high income stages.Finally,in combination with the above research,this article proposes China's feasible policy options at the level of human capital when it crosses the "middle income trap".Through research,it is found that:First,through empirical research on middle-income countries and high-income countries,human capital is one of the driving forces for a country to cross the middle-income stage.On the one hand,for high-income countries,the increase in human capital investment can maintain the sustainable and stable development of the economy,thereby avoiding the region to fall back to middle-income levels due to weak growth after entering the ranks of high-income countries.On the other hand,from the perspective of national income heterogeneity,whether for high-income countries or middle-income countries,human capital investment has a positive effect on their economic growth.Moreover,the positive effect of a country's human capital investment on economic growth increases with time in the middle-income stage.Second,from the actual situation in China,comparing human capital data of countries with different income levels,we can find that China's human capital level still needs to be improved.The main problems are the low level of fiscal education expenditure,and the popularity of higher education is similar to that of high income countries The gap is large,the human capital is out of touch with industrial development,and the human capital investment between regions is unbalanced.Therefore,China should increase investment in the field of public education,especially in the central and western regions,while promoting reform of the higher education system,increasing the popularity of higher education,and encouraging technological innovation and the combination of production,education,and research.To sum up,combining the role of human capital in economic growth and the current status and problems of human eapital in China,China should pay more attention to the development and accumulation of human capital in the middle income stage and give full play to its role in economic growth.The promotion role enables China to smoothly cross the "middle income trap",and move towards a high-income stage.