Research On The Impact Of Human Capital Investment On Economic Growth In China

At present,China's economic growth is facing the dual pressure of downtrend and transformation and upgrading after experiencing the profound changes of the external environment and the adjustment of its own growth power.It is urgent to find new sources of economic growth.In the past,the economic development was driven by the resource elements,which was an extensive growth.The new mode of economic growth needs to transform from extensive speed to extensive growth to quality and efficiency intensive growth.We need to hance total factor productivity and effectively improve the quality of economic development,which requires stronger innovation capability.The theory of endogenous economic growth holds that human capital investment will affect the ability of knowledge innovation,promote technological progress and promote economic growth.Therefore,human capital investment is the key factor to promote the economic growth and promote the transformation and upgrading of China.A comprehensive analysis of human capital to China's economic growth mechanism and to reach conclusions about the influence of human capital investment on economic growth.It is an urgent problem to find out how to promote the transformation and upgrading of economic growth by controlling the investment of human capital.The main contents of this paper are as follows:The first Chapter,introduction.Firstly,the research background of this paper is clarified,and the research significance of this paper from both theory and practice is introduced.Then put forward the purpose of this study and give the structure of the study route.After that,introduce the research content and main research methods of this article;Finally,some possible innovations in this paper are put forward.The second chapter,theoretical basis and literature review.Starting from the systematic combing of the background,origin and development of human capital and economic growth theory by researchers at home and abroad.Analysis and summary of these research results.Then we summarize the research status,research priorities and other related results of the relationship between human capital and economic growth,evaluate the existing research results,and clarify the logical starting point of the research.Finally,the study of system dynamics is combed,and the applicability of the related theories,the object of the study and the characteristics of the model structure are expounded.It lays the theoretical foundation for the theoretical analysis and the empirical analysis of the latter.The third chapter,analysis of the mechanism of human capital investment on China's economic growth.First of all,we review the research viewpoints of domestic and foreign scholars on human capital and human capital investment,and distinguish and define the concept of human capital and human capital investment.Then,according to the concept,characteristics and types of human capital,we conclude that human capital investment can be divided into three dimensions: education investment,health in investment and research investment.According to the notable characteristics in the process of human capital investment,it can be divided into five aspects: human capital investment has long-term ? continuity and dynamism characteristics,and human capital investment has high income,consumption,relevance and risk characteristics.Finally,based on the above three dimensions,the mechanism of human capital investment to economic growth is analyzed.The fourth chapter,an analysis of the current situation of human capital investment in China.The statistical analysis of the specific circumstances related to human capital investment in education,health and scientific research in China.Through the analysis.After years of human capital investment,the level of human capital development in China has been greatly improved.But by comparing with the international developed countries,we can clearly find that there is a certain gap between China and the developed countries in some aspects.On the one hand,it shows that the investment intensity of China's education investment,health investment and science and technology investmentis obviously insufficient.On the other hand,it is shown that further strengthening is needed on some specific indicators.This shows that our country should not only invest more in human capital,but also pay more attention to the investment intensity of human capital,and pay attention to the development quality of human capital on the basis of expanding the stock of human capital.The fifth chapter,dynamic analysis of the impact of human capital investment on economic growth in China.Constructing the dynamic economic effect model of human capital investment in China.Through the unit root test,cointegration test,Grainger causality test,variance decomposition,impulse response analysis to further empirical research on China's education human capital investment,health human capital investment and scientific research of human capital investment on economic growth,the stock of fixed capital and employment in the long-term equilibrium relation and short-term fluctuation relationship and these economic variables to economic growth through what kind of growth path and impact trajectory based on VEC model.Finally,we get specific conclusions based on the three dimensions of education,health and scientific research on the impact of human capital investment on economic growth in China.The sixth chapter,system dynamics analysis of the impact of Chinese government's public human capital investment on economic growth.Considering the current human capital investment in China,taking the government as the core body,we use system dynamics model and VENSIM modeling software to build a system dynamics model of our government's public human capital investment and economic growth.Analysis of the interaction relationship between public education expenditure,health expenditure,scientific research expenditure and economic growth in China.Simulation of the differences in the effects of public education expenditure,health expenditure and scientific research expenditure on economic growth in China,further analysis of the three aspects of human capital investment expenditure efficiency.The policy suggestions are put forward to provide some support for decision making.The seventh chapter,conclusion and prospect.It is the conclusion of this paper.And according to the shortcomings of this study,the future direction of improvement is proposed.The main innovative points of this article:First,this paper analyzes the impact of human capital investment on economic growth based on a dynamic and nonlinear perspective.This paper considers that the effect of human capital investment on economic growth may have a certain time lag,and different types of human capital investment changes will have different degrees of influence on economic growth.Therefore,this article will focus on the dynamic economic growth effect analysis of China's human capital investment.The government's public education investment,health investment,scientific research investment and economic growth are included in the same system analysis framework,and the impact of human capital investment on economic growth is predicted and judged from the complex nonlinear angle by using the system dynamics method.Second,constructing the dynamic economic effect model of human capital investment in China.Through the unit root test,cointegration test,Grainger causality test,variance decomposition,impulse response analysis to further empirical research on China's education human capital investment,health human capital investment and scientific research of human capital investment on economic growth,the stock of fixed capital and employment in the long-term equilibrium relation and short-term fluctuation relationship.It reveals the correlation between human capital investment and economic growth in China.The study found that investment in education is lagging behind in the short run.In the long run,it has a sustained and steady pulling effect on economic growth.Research investment has a long-term positive equilibrium relationship with economic growth,but the impact on economic growth is more significant in the short term.Health investment can improve labor efficiency and promote economic growth in the short term.In the long run,health investment plays a negative role in economic growth.Find the path and impact trajectory of China's human capital investment on economic growth.It is proposed that the education investment and health investment in China mainly affect the economic growth by affecting the employment personnel,and the research investment is mainly through the influence of the capital stock to realize economic growth,while the employment personnel increase more economic growth than the capital stock.Third,The system dynamics model of Chinese government's public human capital investment and economic growth is constructed.To further simulate the differences in the impact of public education expenditure,health expenditure and research expenditure on economic growth in China.Different policy scenarios are set up to examine the impact of the structural change of expenditure proportion on the economic growth of the three groups.And through policy simulation to find out how to control the human capital investment structure to promote economic transformation and upgrading.The simulation results show that: education expenditure has the most obvious role in promoting the future economic growth in China;the expenditure for research also has a positive effect on economic growth,but the effect of economic growth is not as good as education expenditure;The effect of health expenditure alone on economic growth is not obvious.It is necessary to cooperate with educational and scientific research expenditures in order to better play its economic growth effect.The increase of public human capital investment in our government is a gradual process,and we should paymore attention to the structural adjustment of these three aspects of expenditure.The growth rate of scientific research expenditure before 2016 should be greater than the growth rate of educational investment.After 2016,the educational expenditure should be greater than the growth rate of scientific research expenditure.