An Empirical Study On The Impact Of Human Capital On Economic Growth

Throughout the ages,national prosperity and social stability have been the ultimate goals pursued by every country or region,and economic growth is the most important reason to measure national prosperity.Economic growth is generally regarded as the performance of the overall economic prosperity of a country or region,which can not only increase the wealth of a country or region,but also increase employment opportunities.There are many factors that affect economic growth,but human capital,as a dynamic and continuously value-added human capital,has more and more prominent influence on economic growth.In view of this,on the premise of analyzing the specific situation of human capital in the Beijing-Tianjin-Hebei region,it is critical to study the impact of human capital on economic growth in the Beijing-Tianjin-Hebei region to promote the coordinated development of the Beijing-Tianjin-Hebei region.Based on the existing research,this thesis sorts out the literature on human capital and economic growth at home and abroad.On this basis,firstly,this thesis defines the concepts of human capital and economic growth,and systematically expounds the relevant knowledge of human capital theory and economic growth theory.Secondly,this thesis analyzes the current situation and existing problems of human capital in Beijing-Tianjin-Hebei region,and explores its influence on economic growth.Then,this thesis analyzes the current situation of human capital stock and human capital level in Beijing-Tianjin-Hebei region from 2007 to 2016,and empirically analyzes the output elasticity and contribution rate of human capital to economic growth.Finally,a comparative analysis method is used to study the impact of human capital differences on regional economic growth.The results show that:(1)Through quantitative analysis,it is found that the number of higher education students in Beijing is the largest,and the number of employment personal receiving graduate education in Beijing is 13.6 times as much as Hebei province and 3.1 times as much as Tianjin.Although the population of Hebei province is the largest,but the employment personnel receiving secondary vocational education,higher vocational education and higher education is not the largest.There is a big gap between the number of people employed of higher education in Hebei province and that of Beijing.This situation implies that human capital has been a one-way flow trend,and this trend has not changed.It leads to the high-end human capital led by scientific and technological researchers in the Beijing-Tianjin-Hebei region to be concentrated in Beijing and Tianjin,meanwhile,the loss of professional and technical talents in Hebei province is serious,and the human capital in the Beijing-Tianjin-Hebei region is unbalanced.(2)From the perspective of the three industry structure of the employed population,theindustrial structure of the employed personnel in the Beijing-Tianjin-Hebei region has gradually changed into a development model of "three,two and one".Although the third industry employment is more than the first and second industry employment population,but there are still problems of Beijing-Tianjin-Hebei region,such as brain drain,human capital quality to be improved,insufficient human capital investment and differences in human capital structure,which has affected the region's economic growth speed and hindered the economic development,to some ectent.(3)Through empirical analysis,it is found that human capital in the Beijing-Tianjin-Hebei region has a significant positive correlation with economic growth,and regional economic growth is mainly driven by physical capital.The contribution rates of human capital stock and level to economic growth are 9.2% and 0.066%,which are lower than the contribution rate of physical capital,this result indicates that the human capital situation needs to be continuously improved.(4)Through comparative analysis,the outflow of professional talents in Hebei province has led to the inefficient use of human capital in Hebei province,which has formed a gap with Zhejiang province in the Yangtze River Delta region.The study found that the contribution rate of human capital to economic growth in Hebei province is 22 percentage points lower than that in Zhejiang province,and the human capital's role in driving economic growth in Hebei province needs to be further improved.In short,based on the existing research,this thesis deeply analyzes the impact of human capital on economic growth;from an empirical perspective,this thesis makes a systematic and comprehensive study on the influence of human capital on economic growth in the Beijing-Tianjin-Hebei region.