Study On The Efficiency Of Human Capital Investment In The Five Major Economic Zones In Sichuan Province

Since Schultz T. and Becker G. proposed the human capital theory in the 1960s, countries in the world have realized the importance of human capital. Especially in the knowledge economy times, the competition between countries or regions has gradually evolved into the competition of talents, and the essence of talent competition is the competition of human capital and human capital investment. So many countries or regions are more focus on increasing human capital investment to gain more output. As the world’s 3rd largest economy, China pays more attention in increasing human capital investment either to achieve the purpose of promoting economy. With the further research, not only the total amount of human capital investment but also human capital investment efficiency should be paying more attention in the process of economic development in countries or regions. Sichuan province is a major economic province in Western China. In 2014, its gross regional GDP, which was eighth in China and the first in Western China has arrived 2853.67 billion Yuan, so Sichuan province is one of the most important provinces in China’s economic development and there have a certain practical significance to study Sichuan’s efficiency of human capital investment. Based on the above background, this paper studies the efficiency of human capital investment in the five major economic zones in Sichuan Province, and puts forward the relevant policy recommendations to improve the human capital investment efficiency of those economic zones.Firstly, the paper briefly elaborates related literature information in home and abroad and theories on human capital investment efficiency. And then use three aspects (education investment, scientific research and development, health investment, social security and employment) to express the human capital input; use human capital stock, per capital GDP, income gap between urban and rural residents, The second and third industry accounted for GDP to indicate the human capital output. Secondly, the three-stage DEA and super efficiency DEA methods are applied in the article to empirically evidence the human capital investment efficiency of Sichuan’s five major economic zones. It is concluded that there exist differences on investment efficiency in various economic zones, and then gets the ranking of investment efficiency in economic zones are:Panxi, Chengdu, Northeast, South, Northwest by the order of high and low points.; Furthermore, this text also gets the redundant values of input variables and those economic areas are in the stage of increasing returns to scale. Thirdly, based on the above analysis, the article provides some related policy proposal narrow the efficiency gap between and inner economic areas; improves the efficiency of human capital investment by education, scientific research and development, healthy, social security and employment; increase the input of high-level talents to increase human capital outputs) for increasing the human capital investment efficiency of those economic zones in Sichuan province.