The Impact Of Hunman Capital On The Economy In Zhejiang Province

With the adventing of a knowledge-based economy, the country's comprehensive national strength and competitive ability increasingly rely on the human capital. This theory as soon as proposed that immediately is accepted by the western theory. The human capital as the one of the impetus economy has already aroused the attention and study of foreign economic sector, but now domestic awareness of the role and importance of human capital is very inadequate. Human resources development lags behind our country is faced such a dilemma: on the one hand, the number of labor is surplus, on the other hand, the human capital quantity is deficient, which are already restricting china economic growth and sustainable development.Since the reform and opening up to the outside world, there has been a great increase in economy in Zhejiang province. It has created "Zhejiang phenomenon" the rate and level of economic development are continuously rated in the front of china. But its human capital level can't catch the economic level. Compared with Guangdong, Shanghai, Jiangsu provinces, Zhejiang province is left behind in the educational development. What factors impel Zhejiang economic development and what effects does human capital take on the Zhejiang economic growth?First, the article does some quantitative analysis between the human capital and economic growth. It makes a systematic analysis in the economic development and human capital of Zhejiang province by compared to other cities in the east china.On base of reviewing the formation and development of economic growth theory and human capital theory, the article provides a econometric model which draws a conclusion that there is not a deep relation between Zhejiang human capital and economic growth. The author further add another variables to create a new model and establish the fixed effect model.In the end, based on the empirical analysis which concluded that: At present, Economic in Zhejiang mainly rely on the support of high material input, belongs to the stage of extensive growth, but human capital impact on the economy and gradually increased in the stage. At the same time we found that in Zhejiang the institutional factors has a large impact on the economic, which mainly embody by the private economy. As a result, in the last article, the author believe that we should made great efforts to develop education, to continue to develop the private economy.