The Research On The Human Capital Allocation And The Regional Economic Growth

The research on the mechanism for economic growth has been becoming a hot issue in economic field. Human capital theory refers to human capital as one of the factors of production, and the facilitating effect of human capital on economic growth proved the positive effect of human capital on economic growth. Although this positive effect has been well-accepted in developed and developing countries based on empirical data, some researches have showed that human capital did not significantly promote economic growth. In this paper we try to reveal the mechanism of human capital on economic growth based on microcosmic perspectives, and we proved that the promotion effect of human capital on economic growth was not only related to human capital stock level, but also related to human capital allocation. Different allocation structure produces different human capital efficiency and output which is one of the fundamental factors promotes economic growth.The research on the relationship between human capital allocation and economic growth was subdivided into three parts:the factor contribution of human and physical capital, human capital and industrial structure as well as human capital and dualistic urban-rural economic structure. The research was based on the empirical analysis in Jingjinji area.Clearly defining the property right of human capital is the foundation to fulfill the function of human capital allocation. Only by the premise of clear property right can the human capital allocation transfer from low-income region to high-income region automatically, and thus the output could be improved and the economic growth could be promoted. The human capital ownership is private, which is the basis to define human capital property right.Either human capital or physical capital is important factor of production. The social total output could be increased without the increase of gross investment when the allocation of human and physical capital reaches to a certain value. Lower human capital reduces the function of disposition, hinders industrial structure supererogation and the change of dualistic urban-rural economic structure. For that reason, encouraging human capital investment, increasing human capital stock level and promoting the free flow of human capital are important conditions for optimum allocation of human capital which provides important guarantee for economic growth.