A Study Of The Influence Of Human Capital And Its Structure On Economic Growth In Guangdong Province

Since the reform and opening up,Guangdong has made remarkable achievements in economic development.However,due to many factors such as the change of domestic macro environment and the disappearance of demographic dividend,the economic growth rate has slowed down in recent years.In this context,this paper studies the impact of human capital and its structure on the economic growth of Guangdong.This paper first introduces the existing achievements of domestic and foreign scholars about the impact of human capital total level and human capital structure on economic growth,and explains the possible innovations of this paper.Secondly,we review the theory of human capital and the theory of economic growth.Based on the related data of human capital and economic growth in Guangdong in the past 1990-2015 years,the present situation and trend of the two are described in a descriptive analysis.From the model of effective labor Cobb Douglas production function in the empirical part,firstly includes the establishment of a physical capital and human capital two factors model from the human capital stock level.Then the human capital is divided into three categories according to the educational level: primary human capital(or not completed primary education),intermediate human capital(secondary education)and advanced human capital(Higher Education),and introduced into production function.This is the basis of the analysis of the impact of the total amount and structure of human capital on the economic growth of Guangdong.The results are as follows:(1)there is a long-term equilibrium relationship between economic growth of Guangdong and production factors;(2)The total output elasticity of human capital is greater than the output elasticity of material capital;(3)all kinds of human capital can promote economic growth of Guangdong,human capital and the output elasticity of maximum intermediate.Put forward the policy recommendations of output elasticity of different levels of human capital based on:(1)pay attention to basic education resources,speeding up the training of high level talents;(2)improving the result of higher education,strengthening the talent market and the matching degree;(3)actively adapt to the new norm,optimize the industrial structure and the allocation of talent relations.