Study On The Economic Growth Path Of China

Currently, There is a prominent issue that is imbalance of economic structure of China. Which direction should be adjusted? Going on the road of high accumulation or low consumption export-oriented economy or expanding domestic demand, especially consumer demand to promote economic growth, following a path of development Connotative has been an important historical issues.Crossing the history, any a great country is built on a strong national basis of the consumer market. And large of consumption has been used to human development. That is, consumption has been of the main aspects of human capital investment. As the theory of human capital becomes more sophisticated, and more widely applied in correlative empirical study, master the information of the human capital investment and human capital stock have become the vital basis and content for academic study and decision-making management. So how to scientifically measure the level of a country’s human capital stock becomes more and more significant and urgent. Purpose of this paper is according to the economic growth model using existing data of China, design a relatively reasonable and feasible method for human capital measurement, and estimate the human capital stock level of China, and then analyze the long-team impact of human capital stock on economic growth of China.The study is divided into two parts, are reviewed. Based on the relevant theories, we identify the objective, content and method for measurement of human capital investment,and then acquires the data of human capital stock of China in the period of 1992-2006. The second part analysis the impact of human capital stock on long-team economic growth, according the Uzawa-Lucas model and method proposed in the first Part.The first chapter introduces the background and practical significance of topics, puts forward the objectives of this paper, namely, human capital for economic growth impact studies. From Keynes theory to the neo-classical economic growth theory, and then to endogenous growth theory, we briefly comb the process of evolution theory, uses the study framework explain the idea of the full text of the structure of this article. The second chapter provides a brief overview of the two departments and the Ramsey-Model endogenous growth model for the analysis behind the research methodology of preparation. The third chapter introduces the theory of human capital investment and human capital stock, and gets the data of human capital investment of China. Through economic constraints conditions and the average number of years of education, accounts China’s stock of human capital. The fourth chapter estimates the risk-averse coefficient, the ratio of human capital into the products sector and the other large number of parameters. The fifth chapter analysis the impaction of human capital on economic growth.Basing on front of each chapter and according to Uzawa-Lucas two departments models, we analysis the on consumption growth rate, and product department growth rate and generalized economic growth rate. Finally we conclude policy conclusions.