A Study On The Effect Of Human Capital In China's Economic Growth

The theory of new-economic growth points out that human capital is the most important factor in economic growth, the investment in education and training is the source of economic growth. Presently, China is facing the change of economic growth mode, keeping a high-speed growth in this change urgently needs to be researched. In the 15th report, the conception that development of human resource is a strategic in China's social and economic permanent development in 21st century was put forward . For this reason, researching the status quo of the investment of human capital and its effect in economic growth, finding question existed, putting forward investment and accumulation strategy of human capital and promoting economic long-term growth, are this article's research purpose.Firstly, this article explains the concept and features of human capital. Then, points out its monetary and non-monetary estimation ways, obtains that education year is most scientific, real and feasible way by comparition, and estimates China's human capital science 1981 by this mean. Thirdly, based on the theoretically analyze, this article empirically analyses human capital's effect in China's economic growth by a new-classical economic growth model contained labor, physical capital and human capital, the results shows, of average growth rate of 9.8% from 1981 to 2001 in China, human capital contributes 0.96, the contribution rate is 9.84%, human capital's effect in China's economic growth is obviously lower than that of developed countries. Distinguishing among different region, the contribution in the east is 23.93%, 8.08% in the middle and nearly 0 in the west, it is evidently higer in the east than that in the middle and the west. At last, directed against the current situation, this article puts forward suggestions to promote accumulation of China's human capital.