The Study Of Economic Growth In Liaoning Based On Human Capital

Since Adam Smith began, economists have worked tirelessly to explore the ways of making countries richer, affluent life and prosperity of country is almost the ultimate goal of all countries. Achieving this objective relies on sustained economic growth. There are many of factors that affect economic growth. In different historical periods, these factors have different roles. In agricultural economy period, land and labor inputs are major factors of achieving economic growth. In the process of agricultural civilization to industrial society, the capital and the scale of production have played key roles. Early in the industrial economy period, labor, physical capital and natural resources investment are seen as the main driving forces of economic growth. After entering the period of industrialization in Western countries(regions), along with the process of globalization, traditional labor-intensive industries moving to developing countries, innovation has become the core power of industrial development and economic growth to these developed countries.Today is the knowledge era. Capital has further differentiated into physical capital and human capital. After Schultz systematically put forward the human capital view, this capital had become a core element driving economic growth. Scholars began to explore the impact of human capital on economic growth. After Romer and Lucas introduced human capital into the model of economic growth, it had regarded as an endogenous factor, and differences in productivity between different countries got a more reasonable explanation. The lack of natural resource endowment does not preclude a country becoming prosperity, after World War II, Japan, Korea, and Taiwan are the most typical examples, these countries or regions generally have a good stock of human capital and a higher level of investment in human capital. Their knowledge, technology and education investment are very obvious.Since 2003, the northeast region of China embarked on the road of revitalization, Liaoning achieved rapid economic growth. In recent years, traditional industry became overcapacity, the level of domestic demand declined, land policy could not sustain. The power of economic growth in Liaoning is obviously insufficient. As the old industrial base, Liaoning has a high level of urbanization and rapid industrialization process. Practice of developed countries shows that when a country at an advanced stage of industrialization, only relying on natural resources or physical capital investment is difficult to promote sustained economic growth, investment should be put into the intelligence from traditional intellectual input. The positive role of human capital in economic circles has become a consensus. Therefore, this article will introduced the human capital into the discussion of economic growth of Liaoning Province, based on the perspective of human capital, researches economic growth of Liaoning in transition phase.The part of prolegomenon summarizes the research status at home and abroad. The first part systematically expounds the connotation of human capital and the development of the theory of human capital. The second part is the research about the mechanism of action, both from the direct and indirect impacts, analyzes the effect of human capital on economic growth. The third part is the analysis of the present situation of the human capital of Liaoning Province, calculates the average stock of human capital and human capital structure factor, and compared with the data of the nation, Guangdong, Beijing. And this part also analyzes the human capital investment based on some statistical datas. The fourth part is the empirical research on human capital and economic growth, investigates physical capital stock, the stock of human capital, the human capital externality with the total output. The fifth part puts forward the conclusion, and according to the situation of Liaoning, puts forward relevant policy suggestions to improve the level of human capital.