Research On Contribution Of Human Capital To Beijing’s Economic Growth

As the source of economic growth,the contribution of human capital to economic growth has aroused wide concern in the academic circle.As the capital of China,Beijing’s human capital is typical,and its economic development is also a concern of many scholars.At the same time,human capital,as an important factor affecting economic growth,the investigation of its contribution rate on economic growth has a certain theoretical significance.It also has important practical significance for the future development of Beijing,and also has certain reference significance for other regions.In terms of theory,this research will use the method of human capital structure upgrading to measure the structural change of human capital,combined with the number of employees,to form the human capital index,reflecting the structure of human capital,as well as the quantity and quality,it has certain theoretical significance for the research on human capital theory and economic growth theory.In terms of practice,based on the perspective of human capital structure,this study analyzed the contribution of human capital to economic growth,and analyzed the role of human capital in economic growth.It made the targeted recommendations to ease economic pressure and stabilize economic growth from the perspective of human capital,and it has also the great practical significance for the formulation of Beijing’s talent policy.In addition,through comparative analysis,it can also have certain reference significance to other regions.The method of human capital structure upgrading used in this paper is based on the inverse cosine function to measure the angle of the space vector formed by human capital.This method can combine the quality and structure of human capital,and is more suitable for the actual development situation.That is,the evolution of human capital structure reflects the dynamic evolution of the relative proportion of human capital at different levels.This study used the panel data from 1996 to 2017,and measured human capital of Beijing with the method of human capital structure upgrading,and using the perpetual inventory method to calculate the material capital stock in Beijing,and then analyzed the relation between the human capital,material capital and economic growth in Beijing.The main conclusions of this paper are as follows: Firstly,from the empirical results,the contribution rate of Beijing’s human capital to economic growth is 27.6%,while the contribution rate of physical capital is 67.6%,although the human capital in Beijing took an important role in economic growth,there are still some gaps between the two,and need to improve.Secondly,through the comparison with previous studies,I found that the contribution rate of human capital to economic growth in Beijing has increased.In addition,through the comparison with Shanghai and studies of other regions,I found that the contribution of human capital to economic growth in Beijing was better than other regions in China,but there is still a gap with developed countries.Finally,by combining the conclusions of this paper and relevant literature,I found that the contribution rate of human capital to economic growth in China has obvious regional heterogeneity,and the regional disparity is large.The innovations of this paper are mainly reflected in three aspects: First,in terms of human capital measurement methods,this research uses a newer advanced method of human capital structure,which makes the measurement results more adaptable to the actual development situation and makes the conclusions more Meaningful.Secondly,this paper uses newer data and a more complete method system,and performs a robustness test.Finally,this study puts forward relevant policy recommendations in light of the current new situation and new environment,and contributes to promoting the role of human capital in economic growth.In order to make Beijing’s human capital more effective and improve its role in economic growth,I puts forward the following suggestions: First,Beijing should improve the human resources incentive mechanism,promote the role of human capital,and improve the human capital competition mechanism,and make a fair,just,healthy and orderly environment.For example,"one person,one policy" for extremely outstanding talents;secondly,the governments should combine the characteristics of Beijing ’s human capital needs to attract and train talents in a targeted manner when they making talent policies,and attach importance to the structural adjustment of human capital.In line with the industrial structure and Beijing’s long-term strategic planning,locate core urban areas,central urban areas,urban sub-centers and other regional positioning,adapt to local conditions;finally,Beijing should give full play to its advantages as an international exchange center,actively learn from international advanced experience,and attract international talents.For example,creating an "overseas-like" environment,holding large-scale international conferences,and supporting international talent entrepreneurship.In addition,although the contribution of Beijing’s human capital to economic growth still need to improve,other regions in China are even weaker in this aspect.Based on the limited comparative research in this paper,it is found that although the contribution of Shanghai’s human capital is lower than that of the capital,it is also at a high level in China.For the other region,I recommends that: firstly,they should pay more attention to the development of education to improve the overall quality of human capital and accelerate the advanced process of human capital structure;secondly,they should formulate active and effective talent attraction policies in accordance with the characteristics of regional development;finally,they should learn the advanced experience of developed regions and countries in order to improve the human capital contribution rate and alleviate regional differences.