Human Capital Stock Analysis Of The Contribution Rate To China's Economic Growth

The human capital elements play a more and more important role in the process of economic development; China is in a forward to a market-oriented economy and the industrialization process. In some ways, the economic development is still in its initial stage, though it has been facing a shortage of resources, surplus labor and low quality of the economic development, so the exploitation of the human capital to the china's economic which can achieve sustained, efficient, rapid growth has become imperative.Using the time series data from 1990 to 2004 year,First is the cross-section analysis study of the human capital stock in 1990 and 2004. then, is the lengthwise analysis of china's human capital stock from 1990 to 2004,the last is the correlative and contributive analysis of china's human capital stock to the economical growth from 1992 to 2004 year, applying the spss14.0 software.This paper is divided into five parts. The first part is based on the theories of capital, human capital, human resources, material capital. Then it introduces the definition of economic growth, and the stock of human capital measurement methods. The second part is the dynamic and contrastive analysis of the human capital stock from 1990 to 2004.It calculates the human capital stock of 1990 and 2004 year, then compares with each other, concludes the tendency of the human capital stock. The third part is the theme of this paper, introduces the application of the model of economic growth and the factors affecting the selection of indicators and measurement, Then the human capital stock'devotion to the economic growth in the correlation analysis, regression analysis and factor analysis .The forth part of this paper is the conclusions and the last part puts forward resolving methods based on the practical measures.The results show that the labor in China is"in large quantities, but in poor quality". That is, the lower the stock of human capital, too difficult to adapt to economic development. In 1990-2004, the employed population of China increased to 752 million from 647.49 million .The human capital stock grows from 451591 million up to 646178 million, The number of human capital stock increases by nearly 50%, but the overall quality is not high, the human capital stock of junior and middle school account for more than 70% of the total stock of human capital. And the stock of human capital of the tertiary education has increased in recent years, but compared to the human capital stock of junior and middle school, the proportion is too minimal.The current economic growth in China is mainly physical capital stimulating. From 1992 to 2004, the material capital'contribution is 57.19% to the country's economic growth, in 13 years of human capital'contribution to the economic growth, is only 8.38%. The proportion of this human capital stock is relative small in terms of the ratio of the material capital. Therefore, the per capita resources becoming scarce, and the deteriorating ecological environment in China, changing the mode of economic growth is no time to lose. In order to put the analysis of human capital stock 'contribution to economic growth more clearly in the past 13 years ,divides the periods into two parts, 1992-1999 and 2000-2004 , the contribution to economic growth is 7.37%, between 1992-1999, and the rate increases to 11.19% between 2000-2004.an increase of 3.82 percentage points, and the growth rate is relatively high. In late 1990s, the role of educational investment has started to become apparent, according to the trend, when we enter the 21st century, the rate will be further enhanced.The last is the conclusions of this paper in light of China's actual situation of the relevant measures .Including universal awareness of the importance of human capital investment, vigorously developing education to enhance the quality of human capital, strengthening the human capital investment in the enterprise.